Listed Property Trusts

[Beagle]

^^^^ LOL Absolute classic...so bored I bought some more at a 10% discount to NTA and trading cum a 1.55 cps divvy next month too.

[Sideshow Bob]

^^^^ LOL Absolute classic...so bored I bought some more at a 10% discount to NTA and trading cum a 1.55 cps divvy next month too.

The hound smells a good buy.....and a quick divvy.....

[Beagle]

Even at $1.055 trading cum a 1.55 cps divvy due next month, (effective net purchase price $1.04), that's a >7% discount to NTA which is now just over $1.12.
6.25 cps divvy for the year ahead gives a 6% net return to shareholders for this portfolio investment entity approved fund which is equal to 9% gross return to those taxpayers on a 33% marginal tax rate, (i.e. those earning over $70K).

I would argue that's one of the very safest and amongst the highest returns in the market today.
Safe harbor for some of your funds ?, you folks be the judge.

[BlackPeter]

What a boring thread.

Some nice people sold me recently some more Argosy shares for $1 a piece. Probably just bored share holders; If anybody wants to sell me some more at this price ... just go ahead - my order stands; I recommend however that you press the sell button before you read further or you might change your mind

2018 results are out: Steady as she goes: Good first HY, really good second HY and outlook just nice (really boring stuff);

presentation:
http://nzx-prod-s7fsd7f98s.s3-websit...353/279696.pdf

annual report:
http://nzx-prod-s7fsd7f98s.s3-websit...353/279699.pdf

NTA is now up to $1.12 per share (a real Graham opportunity) and the company holds a great and diversified set of assets with 99% occupancy rate - yawn;

Income - $101m (slightly above expectations);
EPS: 11,9 cents (including value increase through re-valuations);

and did I mention a 6.25% fully imputed annual dividend (edit: meant obviously 6.25 cents, but given I paid $1 per share, the percentage is true as well );?

But yep, lets wait until all the excitement is over - I am sure there are still some bored shareholders to sell more at $1 ...

YAWN ...

Ah - and please, don't tell anybody - will you? We don't want to have too much excitement on this thread ...

Gosh ... what part of "don't tell anybody" do you guys not understand? Somebody must have leaked - just look at that chart:

ARG chart.PNG

I guess - I only bought them for the divvie ... but hey, not complaining. Suppose analyst estimates for the coming years might turn out to be a bit on the conservative side - they did mention in their roadshow the chance for some windfall profits.

Always right to buy at $1.00 ... anybody selling?

[Beagle]

Some naughty hound has been quietly getting his snout into more of these ultra boring shares. Anything right up to and including the asset backing of $1.12 has been great buying in my opinion. PIE fund so people can choose whether or not to include dividends and their imputation credits in their tax return or not...anyone earning over $48K shouldn't bother as their marginal tax rate of at least 30% is greater than the 28% company imputation rate. Possibly the safest high yield stock on the NZX ?
You can sleep well at night with this one.

[Beagle]

http://www.sharechat.co.nz/article/6...reinstatedhtml
Interesting.

[peat]

I like VHP in this sector.
NTA currently 2.26 vs price 210 WALE over 18 years!!

[mcdongle]

I like VHP in this sector.
NTA currently 2.26 vs price 210 WALE over 18 years!!

Not overly keen on their manager though

[Frostyb0y]

Not overly keen on their manager though

Tricky thing with the manager - manager owns 25% and requires more than 75% of shareholders to remove the manager.

[Joshuatree]

Property For industry Bonds. No public pool.
7 years @ 4.25 %
PFI Sets Interest Rate for Bond Offer