Asset Plus (APL)

[HKG2301]

I'd be more than happy with a creep up to $1...........

Thanks, decimal points added. Doh!

[dibble]

6.5% gross at current price and a substantial discount to NTA. Trades at a discount due to it's smaller size (less diversification) and development risk. With the way property prices are going I expect to see this discount shrink.

Beware divs are part funded from capital (and by inference, the recent capital raise, a strange way to run a growth business). They own lower grade assets, not all of which currently produce rent and a lot of hope is being pinned on a couple of developments and the Auckland Council as a tenant. So decent chance the NTA will reduce, tho I guess you still get your discount shrinkage.

Also just note Augusta, who hold the management contract, are probably making a pretty penny out of everything APL touches, I cant be bothered checking the accounts but that's typically how they roll.
That said there is hope with the change of focus.

[HKG2301]

$5,000 divi' received - Nice!

[bung5]

Beware divs are part funded from capital (and by inference, the recent capital raise, a strange way to run a growth business). They own lower grade assets, not all of which currently produce rent and a lot of hope is being pinned on a couple of developments and the Auckland Council as a tenant. So decent chance the NTA will reduce, tho I guess you still get your discount shrinkage.

The only reason that is the case is due to the 120mil development cost of the Auckland CC office over the next 18 months. Cashflow from operations well exceeds the dividends paid.
Once Auckland office completes dividends will likely increase significantly

[dibble]

Cashflow from operations well exceeds the dividends paid.
Once Auckland office completes dividends will likely increase significantly

Guess that depends where you go for your DYOR.
Your info is more fun so stick with it. If yours is more up to date and/or correct Im as happy as you as I have a few which I foolishly didnt flog at 60c.

[bung5]

Duplicate message

[bung5]

Duplicate message

[bung5]

Duplicate message

[bung5]

Guess that depends where you go for your DYOR.
Your info is more fun so stick with it. If yours is more up to date and/or correct Im as happy as you as I have a few which I foolishly didnt flog at 60c.

What part do you disagree with exactly? I'm saying cashflows from operations ( excluding the development cost of new buildings ) exceed dividend payout . This can be extracted from the latest financial report

[dibble]

What part do you disagree with exactly? I'm saying cashflows from operations ( excluding the development cost of new buildings ) exceed dividend payout . This can be extracted from the latest financial report

They have a 31mar FY so best you'll get is interim Sep which is before the capital raise was ironed out. There was an online presentation around then, useful investor question or two.