New Zealand Predicts Slump In House Price Growth. 5 Related NZX stocks

Summary

  • Stride Property issued shares under employee incentive scheme and rights.
  • Asset Plus to announce its annual results on 27 May 2021.
  • Investore Property and Goodman Property declared solid FY21 performance.
  • Argosy Property to pay Q4 dividend on 29 June 2021.

The Labour Government anticipates a slump in the house price growth towards the mid of 2022 because of the number of house tax policies declared earlier this year.

As per the Federal Budget 2021, which was released on Thursday, the Government anticipates a rise of 17.3% in house prices in June 2021, which would eventually go down to 0.9% by the June quarter end, 2022.

Source: Copyright © 2021 Kalkine Media

In the light of the above background, let us explore 5 NZX-listed REIT stocks.

Stride Property Ltd & Stride Investment Management Ltd

Stride Property Ltd & Stride Investment Management Ltd (NZX:SPG) announced the issuance of employee shares as well as rights. The Company issued around 406,000 shares to SIML’s executives by the way of employee share incentive schemes, as well as issued about 663,000 rights as long-term incentive scheme for FY22.

Further, 293,830 rights were issued by the way of short-term incentive compensation to the other employees of SIML in consideration of their performance for FY21.

On 24 May 2021, at the time of writing, Stride Property was trading down by 0.44% at NZ$2.270.

Read: 5 REIT Stocks To Be Considered In May 2021 - APL, PCT, PFI, SPG, IPL

Asset Plus Limited

Asset Plus Limited (NZX:APL) announced that its annual results would be revealed on 27 May 2021.

Earlier, it had stated NZ$172.3 million of portfolio value and NTA of 44.7 cps towards the end of March 2021.

On 24 May 2021, at the time of writing, Asset Plus was trading flat at NZ$0.315.

Read: 5 Most Discussed NZX Penny Stocks To Explore In May- SKT, CAV, APL, MPG, ARB

Investore Property Limited

Investore Property Limited (NZX:IPL) recently published its annual results for FY21, which showcased its strong performance. Its PAT was reported at NZ$161.3 million as against FY20’s NZ$28.6 million. There was an increase of NZ$7.7 million in the net rental income, amounting to NZ$55.8 million during the year.

The Company declared a cash dividend of 1.9 cps for the quarter ended 31 March 2021.

IPL continues to focus on augmenting its portfolio as well as enhancing the shareholders’ value. Further, it plans to deliver dividends of 7.60 cps for FY22.

On 24 May 2021, at the time of writing, Investore Property was unchanged at NZ$2.040.

Read: 4 Most Discussed Dividend-Paying Stocks With At Least 4% Yield

Goodman Property Trust

Goodman Property Trust (NZX:GMT) delivered a robust performance for FY21, with a massive statutory PBT of NZ$648.9 million, up 128.2% on FY20.

The Company recorded a 4.7% increase in its operating earnings before tax, amounting to NZ$114.9 million. Moreover, it has declared distributions worth 5.3 cpu for FY21.

Goodman Property aims for continuous acquisitions and development with low-gearing and focused investment strategy to be well placed during FY22.

On 24 May 2021, at the time of writing, Goodman Property was in green, up by 0.23%, at NZ$2.220.

Argosy Property Limited

Argosy Property Limited (NZX:ARG) has reported a remarkable annual performance for FY21, thereby reflecting resilience amid the coronavirus pandemic. The Company recorded a jump of 8.1% in its net property income, amounting to NZ$108 million for the said duration. Its net distributable income increased by 13.1%.

The Company acquired two strategic industrial properties based in Auckland for NZ$76 million in October 2020.

Also, ARG declared a Q4 dividend of 1.6125 cps, which will be paid on 23 June 2021. The company will hold its annual meeting on 29 June 2021.

On 24 May 2021, at the time of writing, Argosy Property was trading session flat at NZ$1.500.

The continuous rise in NZ’s residential property prices may have a catastrophic effect on economy, as well as on its people. It is the need of the hour that the Government takes some effective measures to stabilise the rocketing house prices.

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