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Highlights
- NZ REIT stocks have stayed strong, demonstrating resilience despite being impacted by COVID-19-related disruptions.
- Kiwi Property Group affirms 5.3 cps as its FY22 dividend guidance.
- Argosy Property to distribute Q3 dividend towards March-end.
According to the latest report of Stats NZ, though there has been an increase in the median net worth of NZ households between 2015 and 2021, no significant change has been observed in the distribution of wealth over the said period.
Even in 2021, the top 10% of the Kiwi households continued to possess nearly 50% of the country’s total household net worth as it was back in 2015, reveals the finding.
It is pointed out that the net worth comprises the excess of a household's assets like real estate, retirement savings, etc., over its debts.
Having said that, let us look at the three popular NZX-listed REIT stocks that are rising and making the investors’ day.
Source: © 2022 Kalkine Media® data source- EODHD/Others
Kiwi Property Group Limited (NZX:KPG)
One of the most famous property companies across NZ is Kiwi Property Group Limited, boasting a significant real estate portfolio comprising mixed-use, retail and office buildings.
Do Read: KPG, GMT, PFI: 3 NZX real estate stocks amid housing market slowdown
A few days ago, the Company affirmed its FY22 dividend guidance of 5.3 cps and expects to deliver a dividend yield that is among the best across the real estate sector, stating that despite disruptions caused by the COVID-19 pandemic, KPG continues to perform well owing to its diversified portfolio of high-quality assets.
On 3 March, at the closing bell, KPG rose by 2.34% at NZ$1.095.
Argosy Property Limited (NZX:ARG)
Argosy Property Limited, having a portfolio worth NZ$2.12 billion, will pay a Q3 dividend of 1.6375 cps on 30 March, the record date being 16 March, along with imputation credit worth 0.119884 cps being attached to the dividend.
Also Read: Which are 5 best NZX dividend stocks for 2022?
Further, overseas investors will receive 0.054401 cps, an additional supplementary dividend.
Also, shareholders have the option to participate in the DRP, i.e., the Dividend Reinvestment Plan.
On 3 March, at the closing bell, ARG climbed by 1.46% at NZ$1.390.
Precinct Properties New Zealand Limited (NZX:PCT)
A developer of premium business space across Auckland and Wellington, Precinct Properties New Zealand Limited, has recently published its strong 1H22 results, wherein both its Net Property Income and net operating income before tax grew to $61.1 million and $45.5 million, respectively.
Related Read: Precinct (NZX:PCT) begins third phase work on Wynyard Quarter
Despite being impacted by lockdowns in the first half of the financial year, PCT displayed strong resilience and revealed having NZ$1 billion in development projects, which are underway.
On 25 March, PCT will pay an interim dividend of 1.675 cps.
On 3 March, at the closing bell, PCT jumped by 1.60% at NZ$1.585.
Bottom Line
NZ REIT stocks are focused on leveraging the quality and resilience of their high-performing portfolios and aim at giving increased returns to their stakeholders.