I think there is also a bit of a misunderstanding about property investing. It is less about management and more about picking the right asset.
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Chances of another national lockdown, or more than one for Covid is VERY high in my opinion. KPG are front and central to the risks associated with that. On the other hand ARG managed the Covid events of last year very well. (I already have quite a few of them).
Ripley's believe it or not, I can be a patient puppy :)
Note: Mr B stated that the flow of money from business investors would slowly abate on housing and move to property and that should float all boats on the comp props both stellar performer's and the laggards with good assets and KPG has some very very good assets.
pitty MR B may not be attending the meetings but he may have better things to do. Find another high div stock to add to that overflowing bowl.
Delta variant may already have spread in N.Z. so out of an abundance of caution I am taking a very precautionary approach and not attending any annual meetings until the extent of the possible spread is known.
I ran this decision past a couple of my good mates last night and they thought that was a prudent call.
That said, I'll be taking a very keen interest in the commentary at the OCA meeting this afternoon and the ARG meeting next Tuesday as these are good prospects for reallocation of property resources in my opinion.
ARG is very close to NTA and they have a very good track record.
I don’t think the market cares about lockdowns anymore, they know it’s only temporary (eg won’t impact expected 2022 earnings) and vaccinations will eventually make lockdowns redundant before year end (plus with northlands and plaza being sold off, the retail exposure is much less for KPG going forward).
EDIT: partner of the Covid case that visited wellington tests NEGATIVE. Lockdown now seems highly unlikely.
I disagree. There was $19.5 million in rent concessions given to tenants last year with Covid impact. Expected dividend of~ 5.3 cents per share, (down 24% from pre-covid level's), is clearly stated as being contingent on no more lockdowns.
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