Listed Property Trusts

[BlackPeter]

Somebody put a wee rocket under Argosies shareprice? Up to 1.12 today. Ah well, I won't complain ; Still good value in my view - and their customers will still need a place to work and sell even when the next bearmarket cometh ...

[Beagle]

GMT had a solid half year result. ARG reported on 22 November last year so their next half year report is due imminently. I am expecting a strong half year result and NTA to have improved to ~ $1.15 on the back of firming industrial property yields. Next quarterly dividend is due next month so maybe people are positioning themselves early. Disc topped up recently at $1.08. Any thing at or just under asset backing is good buying for ARG being a well managed company in my opinion and quite low Beta too

[Beagle]

http://nzx-prod-s7fsd7f98s.s3-websit...989/289413.pdf

Looks solid to me.

[Joshuatree]

Capital Raise to Provide Funding Flexibility for Growth Great tenants, downside external managers ,Stride, who are taking up their SPP.

[Sideshow Bob]

Capital Raise to Provide Funding Flexibility for Growth Great tenants, downside external managers ,Stride, who are taking up their SPP.

I like this part of the announcement.....

Guidance of 7.60 cps cash dividend for the year ended 31 March 2020 (FY20) remains unchanged, assuming no further economic deterioration due to COVID-19

Considering it is almost May, hoping no further deterioration for the year ended 31st of March 2020!

[Joshuatree]

Could be a good place to park some funds with a high % of essential service tenants there and a good sustainable?yield.Re 3 weeks for qrtly div sub 2c .

[Waltzing]

moved out of PCT and GMT into ARG. profit taking and consolidation before all those OCR go negative and term deposits look for a safe place..should never have sold MCY but ARG might turn out to be very under valued long term here. will be buying a ton more it is goes under a dollar.

[Joshuatree]

hearing high demand and a higher set price so may miss out on my application.

[Joshuatree]

"Investore said the Covid-19 outbreak had a limited impact on its business given many tenants were deemed essential businesses. And the government's decision to allow tax deductions on the depreciation on buildings to resume will provide a $2.2m boost in the 2021 financial year"

Also building a warchest for acquisitions. Will have a capacity of $295 mill to buy distressed bargains.

.Investore builds war chest with $100m capital raising

[dibble]

Lengthy blurb on Covid and retail in USA, KPG most obvious local parallel but one might extrapolate the medium term gloom to office space (e.g. owning a tower in a dying precinct). Might a dire retail outcome here force all property categories down, even industrial (once rent reviews come around, defining "market rent" might be fun)? GMT/PFI so far pretty resilient. Perhaps we have our own example of massive change with Christchurch.

https://www.theatlantic.com/ideas/ar...retail/610738/