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  1. #1021
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    Quote Originally Posted by Jay View Post
    Asking the learned members on here which, if any, LPT's are more likely to be affected by possible exits/reduction in office space due to working from home etc - more especially in the CBD areas but also possible in outer suburbs
    None apart from in the short term. Most workers will soon find the benefits of escaping their normal living enviroment. There is more reason to go to work than just the pay packet. Most of us will know a few oldies who could well afford to retire, but wouldn't give up the daily ritual of putting on a suit and tie and heading out the door, as often as not just to inspect the newly recruited talent. (aka staying alive)

  2. #1022
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    "Thought KPG would be one the least affected "

    KPG one assumes so. They must have some office space but actually ARG has some government. Forgot the exact amount.



  3. #1023
    ShareTrader Legend Beagle's Avatar
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    https://www.argosy.co.nz/assets/docu...Update_web.pdf Latest Argosy Investor Update looks solid to me.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  4. #1024
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    Was in a virtual chat with a foil designer and missed that GMT trade of over 120,000 at 1.22 or there about

    gone...

    The volume of share traded in the comp props yesterday and today showed some moderate size order of up well over 100,000 single orders.

    Thats after a 3 months of selling pressure no doubt from the 10 year.

    Very pleasing to see the value of these stocks being appreciated by the market.

    Article today on local IWI investments in property and commercial development with a mind set to BUY and NOT Sell.

    Shows the long term view expressed by IWI to the value of land and commercial investments in NZ.

    Perhaps local residential property investors will also start to consider this class of assets as having less investment risk then residential assets.

    We have always considered this to be the case and that societies have always viewed wealth as taxable.
    Last edited by Waltzing; 01-04-2021 at 03:50 PM.

  5. #1025
    Senior Member
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    Where are you guys seeing value at the moment (except for kpg) looking like GMT had a fairly good result but revaluations in presentation are 75% based on a decrease in the cap rate....

  6. #1026
    Legend peat's Avatar
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    ARG
    buy on dips. tho I missed Friday!!

    (discl no holding at present)
    For clarity, nothing I say is advice....

  7. #1027
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    KPG still a buy.

  8. #1028
    ShareTrader Legend Beagle's Avatar
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    KPG must be good buying at the current discount to NTA and yeah peat, anyone who managed to pick up some ARG last week at $1.45 should give themselves a pat on the back.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  9. #1029
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    Quote Originally Posted by Waltzingironmansinlgescul View Post
    KPG still a buy.
    Results next Monday......

  10. #1030
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    Quote Originally Posted by Beagle View Post
    KPG must be good buying at the current discount to NTA and yeah peat, anyone who managed to pick up some ARG last week at $1.45 should give themselves a pat on the back.
    Is the discount to NTA that relevant? As interest rates/capitalization rates fall asset prices go up and if we have inflation and central banks do something about it, we will see valuations decline. It looks like we are at a bottom for interest rates, although I am assuming they could stay low for a long time.

    The $290,000,000 write down of value in 2020 or 18cents per share (290,000,000/1,569,088,000) I assume would have been a reaction to the lockdowns.

    Surely cashflow and dividends per share would be a much more important measure.

    $119,845,000 profit 2020 1,569,088,000 shares or 7.6cents per share.

    Half yearly to sept 2020 rent was only down 5% but net profit higher by 10% mostly due to a reduction on losses on interest rate derivatives.

    Sam Zell called retail real estate a falling knife (in the States I guess) and the effects of online shopping will have sped up a bit with the lockdowns. Never been to Auckland on a weekend and not found a major mall to be chocka with cars though.
    Assuming the dividend can get back to 7cents a share and it was 8.8cent in 2019 and 2020 then 5.6% yield (7cents/1.25) or 6.4% if it gets back to 8cents seems reasonable for the risk imho. If interest rates rise you will need to be happy with the yield as the shares drop. Still well below 7%-8% which is where I would be more comfortable.

    That said I have bought some today on the basis that the economy/society is still all about consumption and buying s**t you don’t need and interest rates are going nowhere for a while at least even with inflation.
    $1.234 per share. Very unsure about the investment and will be interesting to look back at this price in a few years. Not a huge portion of the portfolio but enough to matter.
    Impulsive investment and post so get back to me with any inaccuracies.
    Last edited by Aaron; 18-05-2021 at 07:51 AM. Reason: sam not small

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