Dividend payment tomorrow, or a pile discounted shares on the DRP. :)
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Dividend payment tomorrow, or a pile discounted shares on the DRP. :)
Huge projected growth represented by a massive premium to NTA is baked into some stocks in this sector but that's not the case with OCA which closed at $1.33, well below fair adjusted NAV as at 30 Sept 2021 (as discussed in the recent call) of $1.42
I have learned to completely ignore what one single real estate agent says, (never once met any agent that does anything other than talk their own book) and focus on what the real estate stat's are telling you, (removes all the bias and B.S.). Chatting with one veteran of the industry last week who's retiring early next year, apparently there are very close to the same number of real estate agents in N.Z. as there are listed properties for sale and most agents make a pitiful living and have very little idea of what's really happening in the market. Its the old 80/20 rule, only 20% of agents are really any good at what they do and they're the ones that make 80% of the income in the industry.
To MR B's Comments.
An Agent in a central north island town recently commented that the areas has N numbers of agents and each had only a limited number of houses to sell or lucky if they had one and some were struggling to get any as the price went higher. His clientele before COVID might be from anywhere in the world to take around in his brand new JAG. Now he was considering going back to painting portraits and picking apples.
Not all agents are moving into selling for retirement villages but perhaps that is one area of staff resourcing that this sector wont be short off.
An article from two months ago:
https://i.stuff.co.nz/national/12647...for-sale-in-nz
thanks for that.
Div/DRP comes in at price $1.2837
Capital Change Notice - NZX, New Zealand’s Exchange
Looks like a little less than half the shares were part of the DRP.
3.56 million issued at $1.2837 = $4.57m. Total divvy 706m x $0.021 = $14.8m (before tax).
Change can happen fast. Back in September, when that article was published, there were about 17,000 residential properties for sale (Trademe only but that is probably most). This week about 23,000. Includes sections but not retirement villages - they have a separate category. So only useful for trends but still that's a decent jump in 3 months.
Some of those for sale will be for folk selling to move for retirement, but quite likely plenty will be rentals on the market.