Listed Property Trusts

[The Great Gold Guru]

Bob Jones buys principally office buildings ... he hasn't done too bad for himself over the years. Buy and hold and never develop are his motto. If AMP Office hadn't tried to be so smart with 21 Queen Street there is no way there shareprice would be 71c and the rights issue would probably have been half the size. Who in there right mind would go into a $100m development without a single square metre leased before going ahead. Just plain dumb , and they are paying the price now.

I hold APT ... just recently bought 10,000 pre-rights at 81c ... used to have 130,000 but sold when they announced 21 Queen Street purchase at $1.38 ... fortunately for me their poor judgement has saved me around $70k.

I like Goodman as my no.1 pick ... chance they may become self-managed if their parent in Australia needs to sell some assets quick fire at some point in the near future. Good portfolio , 10c divi ... even if they cut it 20% the yield will still be almost 10%.

[voltage]

interesting comments, so there is not much choice of what to buy, thinking of borrowing 100000 and divide 6 ways

[fungus pudding]

interesting comments, so there is not much choice of what to buy, thinking of borrowing 100000 and divide 6 ways

Goodman, ING, KIP are all good at current prices. GGG mentions Jones' ownership of office bldgs. If you can find a copy of Jones on Property - bestseller in the 70s, he made some brilliant comments on industrial vs office. His comments still hold true, although pride of ownership seems to have driven him to office buildings. As he puts it, he just likes owning the damn things.

[croesus]

Keep away from Dodgy Kev and NAP.

[fungus pudding]

Should have mentioned DNZ. Unlisted and accesible throught their own site, or here is link to secondary market.

http://www.unlisted.co.nz/uPublic/un...77430c41202a7d

Not the world's greatest but ok at the price. Only available through a couple of brokers and sales only posted 5 p.mp on Fridays. I'm sure price would rise if publically listed, and I'm fairly sure that one day they will be, so might be worth accumulating a few. Grew out of the remnants of some syndicated deals that 'Honest Doug' Somers Edgar put together through Money Managers. Horrible start to life that that would be for anything, but coming right. Worth watching.

[Billy Boy]

APT is not in the business of selling properties. It buys with a view to growing rentals and capital values. Overgearing is the problem which has resulted in the other property trusts especially in Australia having to fire-sell properties.

Now is the time to buy, not sell, I would have thought.

I posted before the budget as I thought Billy smurf would hit property
owners (land taxes).
How ever I still hold reservations in regards APT. Interest rates are going
to go up over the next year or so and if they do have to retrench somewhat then it will be very hard for APT IMO. Lets see how they
come out of the money raising venture, I might change my opinion.
Cheers BB
dic dont hold APT (now)

[Dr_Who]

APT shares doing very well these two days. Up nearly 10% in two days.

Also seems like Abu Dabi have increased their shareholding in APT.

disc: Recently bought APT

[Billy Boy]

Would have thought KIP SP would be showing sign's of improvement
by now ( Book Close Tues 9th 4 cent div) More bad news to come ?
GGG, F.Pud, anyone what's your view ?
BB

[fungus pudding]

Would have thought KIP SP would be showing sign's of improvement
by now ( Book Close Tues 9th 4 cent div) More bad news to come ?
GGG, F.Pud, anyone what's your view ?
BB

Maybe, but it's not likely to be all that bad. All I know is 'never look a gift horse in the mouth'.

[COLIN]

APT shares doing very well these two days. Up nearly 10% in two days.

Also seems like Abu Dabi have increased their shareholding in APT.

disc: Recently bought APT

I just have to air my frustration somewhere: I have just opened the morning's mail to find that my APT rights issue takeup application has been refused because it was not received until 8 June and acceptances had to be received by the Registry by close of business on 4 June. I posted the wretched thing on 31 May, FASTPOST, and, accepting that Monday 1 June was a holiday, I had no doubt that it would be received at the Registry by 5 p.m. on Thursday 4 June. The failure by NZ Post to honour their promises with the FASTPOST service has cost me over $1,000 on today's price for the APT's. I will be writing to the NZPO Chairman, Bolger - nothing will happen, of course, but it will help to dissipate my anger. Why have a supposed FASTPOST service?
There, I feel a tad better already.