ARG - Argosy Property.

[Beagle]

i hope so, wonderful term deposit replacement.

I think that's hits the nail well and truly directly on the head.
I attended the annual meeting at the RNZYS at Westhaven marina this afternoon and struggled to stay awake to be honest. This must be the most boring company I own and so predictable.
One of the few property companies to provide guidance at the same level for the forthcoming year as for the previous year, (lots of talk and excuses from others like KPG and GMT why their dividends have to be cut and caveats regarding future dividends).
Driving home I reached the exact same conclusion as you have. Many people will be like me and have taken a conservative approach to riding out the effects of Covid 19 by selling some shares in February / March and putting the proceeds on term deposit for 4-6 months and will be faced with ~ 1.75% term deposit rollover rates, less tax which for many will mean a net return of just 1.17%.

Or...there's ARG with its 5.0% PIE yield which is non taxable in shareholders hands. There might be another green bond issue later this year, (I asked at the annual meeting), but I think that's likely to be circa 2.5 - 3.0% and that's taxable income in bondholders hands.

Disc: This share bores me to tears...but its good to have something really boring and predictable in your portfolio. I am favourably inclined to add some more when my term deposits mature in the next couple of months. I will not invest in term deposits for a net 1.17% return and accept the OBR risk that goes with that for such a woefully pathetic return that will not even keep up with inflation.
The scones were very fresh but refreshments otherwise were unremarkable. America's cup looks good in its case at the RNZYS. Hope its there this time next year

[NZSilver]

trading back near NTA now. Good run up.

[Beagle]

Yes remarkably good considering the reemergence of Covid since my last post above.

[Cyclical]

Someone looks to have been pretty keen to acquire a good chunk of this at the end of the day's trading...

[Waltzing]

are very happy to moved into our largest holding in NZ back in April May. If your looking for a defensive stock its starting to do its

[Waltzing]

1.37! this morning! Everyone holding congratulations for not hitting the panic sell button on wellington and auckland commercial property market.

DISC: Rolled into ARG back in march april from GMT and PCT. Trade this sector and also hold long in fenced trusts. No plans to sell once of our largest holdings in NZX.

[NZSilver]

Trading at 1.35 (now a little premium to NTA). Note NTA may drop on next results with revaluation but dividend (or yield), paid from cash and sustainable, paid quarterly will make this attractive and therefore share price could even move higher as interest rates go lower. I note most other listed property trusts trade at a larger premium to NTA

[Waltzing]

FROM MR BEAGLE: and i quote, "This share bores me to tears" yes and to think i was thinking of buying some more in the No 3 portfolio at 2.24 just the other day with an order on the market. Lucky we rolled all our property shares from GMT , PCT and HGH into ARG at 1.17 back in may. This electric train has left the station and is now out pacing OCA by several train stations. Very very happy we took what for us is a good defensive position as i expect this to break new highs next year if we go negative interest rates. The government made a big mistake by not talking to MR O about direct bond treasury purchases backing themselves and him into a corner. He opened the door to the future and the politicians blew it.

Price Closing at 1.39.

very pleased we chose this over OCA as our defensive line in the sand.

I bet those who bought at the lows are now ordering there new electric car.

[Beagle]

Awesome to see this being rerated.

[NZSilver]

Not far of crossing 1.40 mark, this could go a lot further based in interest rates alone