Listed Property Trusts

[rmbbrave]

Skellmax Industries is dropping out of the sharemarket's top 50.

The New Zealand Exchange said the rubber products company would be deleted from the NZSX 50 Index on May 2. Its place would be taken by Macquarie Goodman Property Trust which would also be added to the NZSX 50 Portfolio Index and the NZSX MidCap Index at Skellmax's expense. Skellmax will join the NZX SCI Index for smaller companies and Macquarie Goodman will be removed.

Fundamentals : Macquarie Goodman Property Trust Ordinary Units

Total Issue 341,691,679

Market Capitalisation $392,945,431 (@ 115)

Full Year Profit 16,569,000 (NZD)

Earnings/Share 10.7900 cents

Price/Earnings Ratio 10.6580

NTA/Share 97.5800 (NZD) cents

Dividend/Share 9.8000 (NZD) cents

Dividend Yield 8.5%



Funds that purport follow the NZ50 will have to buy some MGP so I predict a rise in the SP. In the last year the shares have gone from 1.02 to 1.15 which is hardly spectacular. However, if they have paid 8.5% dividend over that time then that's 20%.

Does anyone think this trust might be worth investing in?