sharetrader
Page 6 of 181 FirstFirst ... 23456789101656106 ... LastLast
Results 51 to 60 of 1806
  1. #51
    Veteran novice
    Join Date
    Jun 2007
    Location
    , , .
    Posts
    7,289

    Default

    Quote Originally Posted by Mogul View Post
    Do not hold, but surprised that a property yield company has decided not to pay a dividend. I thought reliable yield was a key reason for owning listed property shares. Does not inspire confidence.
    Take it as a signal that management aren't very confident, either. Potential lease terminations, lease/rent defaults, less customers through the malls etc.

  2. #52
    Advanced Member
    Join Date
    Jul 2000
    Location
    Masterton, , NZ.
    Posts
    2,250

    Default

    Quote Originally Posted by Mogul View Post
    Do not hold, but surprised that a property yield company has decided not to pay a dividend. I thought reliable yield was a key reason for owning listed property shares. Does not inspire confidence.
    Yes - effectively by cancelling next dividend its like a rights issue they hopefully won't need to have - besides they had that last year, Disc- hold

  3. #53
    Senior Member
    Join Date
    May 2007
    Location
    Auckland, , New Zealand.
    Posts
    782

    Default

    Quote Originally Posted by macduffy View Post
    Take it as a signal that management aren't very confident, either. Potential lease terminations, lease/rent defaults, less customers through the malls etc.
    Certainly no lack of customers in Lynn Mall today. The place was packed. Anyone who had concerns whether customers would ever want to shop in malls again didn't need to worry.

  4. #54
    Advanced Member
    Join Date
    Jul 2000
    Location
    Masterton, , NZ.
    Posts
    2,250

    Default

    Quote Originally Posted by Grimy View Post
    Certainly no lack of customers in Lynn Mall today. The place was packed. Anyone who had concerns whether customers would ever want to shop in malls again didn't need to worry.
    We were at Coastlands recently - same trend - looked like BAU

  5. #55
    Member
    Join Date
    Jan 2008
    Posts
    189

    Default

    BAU-i certainly hope so but its early days. Unemployment aside, plenty of fashion houses (a mall mainstay) downsizing/closing around the world (and a bit here of course). One feels there is worse/a lot worse to come but Herald article yesterday, chap confident malls will evolve, might see more dentists and the likes replace the shops. Whether that attracts the masses that feed the small shops, who knows. On a US trip last year it was heart-wrenching to see how many malls were dead (as in totally, boarded up, grass in parking lots etc). Hope we dont get any of the same.

  6. #56
    Legend
    Join Date
    Apr 2008
    Location
    Sth Island. New Zealand.
    Posts
    6,428

    Default

    Quote Originally Posted by dibble View Post
    BAU-i certainly hope so but its early days. Unemployment aside, plenty of fashion houses (a mall mainstay) downsizing/closing around the world (and a bit here of course). One feels there is worse/a lot worse to come but Herald article yesterday, chap confident malls will evolve, might see more dentists and the likes replace the shops. Whether that attracts the masses that feed the small shops, who knows. On a US trip last year it was heart-wrenching to see how many malls were dead (as in totally, boarded up, grass in parking lots etc). Hope we dont get any of the same.
    Town planning and zoning will make sure that malls here are relatively secure, i.e. not threatened by never ending competing developments. To aggregate sufficient land is expensive and painfully slow in NZ. Whereas in the states all vacant green-fields present an opportunity. Mall buildings are cheap structures and easy to throw up as long as land is cheap as it is in some of U.S states where shop development is uncontrolled. For the same reason they can provide almost unlimited parking so as to attract the punters from all around.
    Last edited by fungus pudding; 14-06-2020 at 06:25 PM.

  7. #57
    percy
    Join Date
    Oct 2009
    Location
    christchurch
    Posts
    17,221

    Default

    Walked through Northlands Morgue this morning.
    Had the smell of decay about it.

    Down the road KMart, Briscoes etc were doing the business.

  8. #58
    Guru
    Join Date
    Jul 2004
    Location
    Bolivia.
    Posts
    4,854

    Default

    https://www.nzx.com/announcements/354981

    Kiwi Property business and dividend update

    22/6/2020, 8:30 amCORPACT
    Kiwi Property is pleased to provide the following business and dividend update:
    Pedestrian count
    The number of visitors to Kiwi Property’s shopping centre portfolio has returned to pre-COVID-19 levels. Since New Zealand’s move to Alert Level 2 and the resumption of normal trading on 14 May, the average pedestrian count for the Company’s portfolio is up 1% on the same period last year. Some centres have recovered particularly strongly, including Sylvia Park in Auckland and The Plaza in Palmerston North.

    Rent relief
    Kiwi Property has taken a number of steps to mitigate the impact of COVID-19 across its business and to support its tenants. These measures include a comprehensive cost control programme and rent relief measures for affected retailers, and SMEs. Negotiations with Kiwi Property’s tenants are ongoing, however abatements are expected to be in-line with the guidance provided at the Company’s full year results (FFO [Note 1] impact of approximately $20 million or $14 million after tax, partially offset by an approximately $4.5 million reduction in tax resulting from the reinstatement of depreciation on commercial buildings).

    Dividend
    As previously reported, the Kiwi Property Board made the difficult decision not to proceed with the final dividend for the year ended 31 March 2020, due to the inherent uncertainty caused by COVID-19. In light of New Zealand’s return to Alert Level 1 and the increased clarity around the country’s trading environment, the Company intends to pay an interim dividend for the year ending 31 March 2021 [NOTE 2]. The dividend will comprise 90 – 100% of Kiwi Property’s underlying cash flows (AFFO [NOTE 1]) for the six-month period to 30 September 2020, in accordance with its new dividend policy.

    Further dividend and earnings updates will be provided to the market once trading conditions and rental collections have normalised.

  9. #59
    Speedy Az winner69's Avatar
    Join Date
    Jun 2001
    Location
    , , .
    Posts
    37,737

    Default

    No paycheck for KPG shareholders until Christmas ...if things go OK
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  10. #60
    percy
    Join Date
    Oct 2009
    Location
    christchurch
    Posts
    17,221

    Default

    Observations from visiting Northlands Mall last week.[from memory so may not be exact]
    Three large empty stores.
    Four small empty stores.
    Standard of tenants weaker.So many stores did not appear to have a viable business.A lot did not have the stock required to do a good turnover.
    Shoe stores are not a good sector yet there were about four sport shoe retailers and possibly three or four standard shoe retailers.
    Hairdressers.Two or three.Massage two,or three..Hair removal one or two.Nails etc two or three. ie over 10 in one sector.?
    Foodcourt.McDonalds as usual were the only ones busy.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •