Which are top 5 NZX REIT stocks of 2021?

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Which are top 5 NZX REIT stocks of 2021?

REIT stocks
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  • The country’s house prices have been skyrocketing, while some blame it for falling interest rates and foreign buyers, others attribute it to decades of negligence towards housing affordability.
  • Argosy Property to pay a second-quarter dividend for FY22 on 22 December.
  • Kiwi Property Group enters into a sale of land agreement at Sylvia Park with IKEA for setting up its future stores.

According to a new survey, more than half of the New Zealanders opines that the prime reason for the country’s escalated house prices is its property investors, while some blamed foreign buyers and the existing Government for this price rise.

However, NZ’s Housing Minister has attributed the current house price hike to years of neglect and inaction towards tackling housing affordability.

Further, a leading economist has stated that the key reason for driving house prices was long periods of falling interest rates.

That said, let us look at the five NZX-listed REIT stocks for the current year.


Image source: © 2021 Kalkine Media, data source- Refinitiv

Argosy Property Limited (NZX:ARG)

Argosy Property Limited offers world-class office, industrial, and retail properties to its customers. Underpinned by a robust operational performance for the six months ended 30 September 2021, ARG announced the payment of Q2 FY22 dividend of 1.6375 cps on 22 December.

Must Read: Which 3 NZX REIT stocks to explore amid robust housing sales?

It posted a record NPAT of NZ$127.0 million for the said duration backed by sustained growth during the said period.

At the time of writing, on 8 December, Argosy was trading up by 2.40% at NZ$1.495.

Property for Industry Limited (NZX:PFI)

Property for Industry Limited offers property investment and related services. A few days back, the Company revealed the acquisition of a Penrose-based site for NZ$6.825 million, a settlement of which is expected to occur in March next year.

Related Read: Which 5 NZX dividend stocks under NZ$5 to consider in 2022?

Moreover, PFI has disclosed a strong increase in its portfolio property valuation, amounting to NZ$150 million for the half-year period ended 31 December 2021, thus bringing the total value of its combined 97 properties to NZ$2.164 billion at the end of 2021.

At the time of writing, on 8 December, Property for Industry was trading down by 0.35% at NZ$2.86.

Asset Plus Limited (NZX:APL)

Asset Plus Limited has released its half-year results for the period ended 30 September 2021. Its AFFO was reported at NZ$2.57 million.

Further, due to the COVID-19-induced lockdown, its Munroe Lane development has been delayed, which will now be completed by March 2023.

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APL will distribute a gross quarter dividend of 0.519 cps on 14 December and is focused on delivering its projects and at the same time, maintaining a passive income stream.

At the time of writing, on 8 December, Asset Plus was trading fat at NZ$0.305.

Kiwi Property Group Limited (NZX:KPG)

NZ’s prominent real estate company is Kiwi Property Group Limited. Recently, the Company has announced signing a conditional agreement with IKEA regarding the sale of land at Sylvia Park.

It is noted that the latter would use for setting up its future stores and customer meeting points.

At the time of writing, on 8 December, Kiwi Property Group rose by 1.30% at NZ$1.170.

Precinct Properties New Zealand Limited (NZX:PCT)

Precinct Properties New Zealand Limited boasts developing premium real estate properties across Auckland and Wellington. A few days back, it had disclosed that PCT010, its senior secured fixed-rate bonds, would mature on 17 December.

Do Read: Are there any cheap NZX dividend stocks under NZ$5?

The last trading date of these bonds was 3 December and payment for the same will be made on 17 December.

At the time of writing, on 8 December, Precinct Properties New Zealand rose by 2.90% at NZ$1.595.

Bottom Line

New Zealand is currently one of the hottest property markets across the world, with affordable housing being a major concern. The national government is trying its best to cool down the country's property market marked with an enormous price rise.


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