Listed Property Trusts

[Lawso]

Hi Neleh

You're doing a great job keeping the LPTs flag flying. The sector continues to power ahead with KIP and PFI in particular setting new highs.

After the price surge that followed the recent tax change, the leaders are mostly showing yields of around 5-6%, tho' ING is at 7.51. There are extraordinary differences in the P/Es, however, ranging from APT at 4.34 to MGP at 18.5 and PFI at nearly 23. It looks like APT is your favourite and no wonder.

I'm holding only PFI and MGP in NZ, plus a fund that invests in Westfield and other LPTs in Oz. A dollop of cash will land in my lap at the end of the month and some of it will go into this sector - probably APT and possibly KIP. But I'm also considering under-performing NAP, which could make a comeback under St Laurence management. And as Farouk has pointed out, newcomer Kermadec could be worth watching.

So how do you think I should spend my next ill-gotten gains? Punt on the small ones or get more heavily into the leaders. I've done well with MGP and PFI but surely they are now fully priced.

Woddyuhreckon?

[kura]

I've thought about taking profits on my KIP shares ever since they hit $1.30 with the hope of buying back in at a cheaper price (sure glad I didn't)

Just a question about KIP wrt Sylvia Park, yes my understanding that this this development seemed to have some of "experts" worried several years back (development risk rather than a pure property owner) I'm wondering if this percieved risk has now been "derisked" ??

Also when it comes to the annual accounts, will KIP book through some sort of development margin, or will this get taken care of when their properties are revalued anyway ??

[Tim]

Do you look at LPt as shares and if so should they be compared with blue chips like contact that also produces a reasonable dividend which is very likely to continue to grow. I wish to borrow some money and invest in stock with good dividends that are likely to grow in the future?

[Happy Camper]

This Happy Camper bought some KPF in the IPO, and booked a tidy short-term gain by exiting for $1.07 earlier this year.

Please to report that I am back into KPF at $1.05, and plan on being there for the long-haul.

Cheers

[troyvdh]

....spooky park....sounds about right....

I reckon I would not be able to sleep if I had any shares in this sorry place....

[troyvdh]

Not wanting to start an argument between the benefits or advantages between listed property companies but it is interesting to look at the buyer/seller depth....of PFI KIP APT.

[nelehdine]

I see APT closed at a record high this evening of $1.40 and also nabbed on of Wellington's prime waterfront tower blocks. Deloitte House on Customhouse Quay ( also Featherston St ) ... $58m worth , 90% leased with lots of upcoming rent reviews so plenty of growth in rental income. Naming rights and 6 of the floors leased to one of THE truly global brands in the finance industry in Deloittes ... another great addition to the portfolio and another quality investment of the type that can only be accessed by "Mum and Dads" via a company like this.

Disc: hold 131,809 APT's ( via ords and MCN's )

[nelehdine]

Wonder where Capital properties share price would be right now considering the quality of their Wellington portfolio ... $1.80 ... $2 , shrewd buying by AMP !!

[kura]

Tidy $200m revaluation by KIP announced today, price up to $1.70

[Farouk]

Kermadec starting to creep up now, what did I tell ya??