5 Real Estate Stocks Building Strong Momentum at NZX

Source: Thampapon,Shutterstock

Summary

  • The NZ real estate market witnessed mixed results in the COVID-19 afflicted year.
  • The industry like most others is particular about all safety precautions.
  • Virtual dealings are being encouraged; site visits are being kept minimum.

The real estate industry like most others also faced the brunt of restrictions imposed due to the COVID-19 pandemic. After witnessing an obvious downturn, real estate industry started to re-stabilise and people also started looking at commercial as well as private real estate investments.

During this time, site visits were curtailed, but more than that cash at hand was also reduced. Therefore, the real estate sector moved down.  However, in the later part of the year, the real estate market picked up and was one of the sectors that performed well by the end of 2020.

Image Source: © Sasinparaksa | Megapixl.com

Let’s have a look at how some of the real estate stocks that have performed well in the recent times:

New Zealand Rural Land Company (NZX:NZL)

The Company, created for the purchase of real estate in the country’s agricultural sector, is known for leasing lands. According to the company’s interim report released on 26 February, there’s been a sum of NZ$75M raised through the IPO. The focus shall now be on acquiring rural land in the dairy sector in New Zealand. As of today, the Company announced its share buyback plan, the money which will likely be used for the capital generation for further operations.

On 17 March, New Zealand rural land company traded at NZ$1.190, at the time of writing.

Precinct Properties NZ limited. (NZX:PCT)

The Company primarily invests in commercial office properties in New Zealand. As revealed in its first-half results, the company had a total income after tax of N$167.9M as well as a revaluation gain of N$148.5M. There was further a 10cps increase witnessed in the net asset value for each security. The dividend guidance was maintained to be 6.50 cents for each share for FY21.

On 17 March, Precinct Properties NZ limited traded at NZ$1.645, at the time of writing.

CDL investments New Zealand limited (NZX:CDI)

Another name on the block, this Auckland-based Company is best known for its investment in property. On 17 February, the Company released its full-year performance with NZ$30.1M in profits after tax, down from NZ$34.1M in 2019. The property sales along with other income generated a total of NZ$88.8M. The total assets were valued at NZ$265.0M, whereas the shareholder’s fund was estimated to be NZ$257.1M.

On 17 March, CDL investments New Zealand limited traded at NZ$1.075, up by 1.42%, at the time of writing.

Goodman Properties Trust (NZX:GMT)

Primarily dealing in industrial real estate, this Company is dual listed with operations in both Australia and New Zealand, respectively, with facilities spanning in 17 countries. On 10 March, it was announced that the upcoming results would hold information about a significant gain on revaluation on a property. John Dakin , the CEO,. was of the view a strong demand was being witnessed in the logistics and warehouse sector particularly.

GMT signals $415 million second half portfolio revaluation - NZX, New Zealand’s Exchange

On 17 March, Goodman Property Trust traded at NZ$2.225, up by 0.68% at the time of writing.

Argosy Property Trust (NZX:ARG)

This diverse property management Company is known for its operations in various verticals. On 10 March, the Company announced a dividend of 1.6125 cents per share for the financial year, which is to be paid on 30 March 2021. There will further be imputation credits of 0.140594 cents per share included in the same. There will also be a Dividend Reinvestment plan attached to help stakeholders reinvest their interests.

On 17 March, Argosy Property Trust traded at NZ$1.460, down by 0.34%, at the time of writing.


Disclaimer
The website https://kalkinemedia.com/nz is a service of Kalkine Media New Zealand Limited (Kalkine Media), Company Number: 8107196. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.
   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK