Those are really solid numbers ... could be worth a flutter!
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Those are really solid numbers ... could be worth a flutter!
But ....debt, debt, debt, debt..........it's so out of line with the other listed trusts, that if they have to reduce leverage (and they will one day) they'll get walloped. As CEO says selling buildings to repay debt leaves them worse off profit wise - and raising capital will be impossible at current debt levels. I don't see dividends staying up for too long, although they predict them holding for next year.
From Otago Daily times
http://www.odt.co.nz/news/business/6...operty-growing
I haven't gone back too far on this thread (as things change), but a quick look at a few of these gives approximate figures of;
GMT @.99 a 10% div and a 5% discount to NTA
KIP @ .99 a 8% div and a 25% discount to NTA
ING @.69 a 11% div and a 40% discount to NTA
APT @.77 a 9% div and a 43% discount to NTA
I have MFL units from a long time ago - which if I'm right is basically ING Prop? If so I probably don't need more exposure there. However, I've always been keen on KIP and APT, just never bought any as I've usually not had any spare money. However, I have had some finance company money repaid (yes, there are still some that haven't collapsed!) and thought either APT or KPI, or a mix wouldn't be a bad way to go for a reasonably steady (if somewhat unexciting) income/investment.
Any particular reasons not to at present?
Thanks.
YO F/Pud...
You are for a Directorship this time around ??
Two spots going
Cheers BB:)
Well the KIP made it to the $1.00 up from 90 cents this little stock has been a good BET..
WHO missed.. out..