ARG - Argosy Property.

[BlackPeter]

I'm not sure it is that simple...

Asset plus - fairly flat
Goodmans - middling but flattening out
Investore - slow decline
Precinct - looks like Argosy
Property for industry - distinct decline
Stride - just as bad as Argosy

I realise they have different property class exposure

It also seems odd that folks would pull out of property given the inflation fears. I mean, if you are looking at bonds for "risk free" return, then you are definitely going to lose these days.

You are right, it is not that simple - actually it is much more complex than anybody wants it to be ... and on top of the parameters we know about (like real estate prices, interest rates, exchange rates, OIO regulations, economic growth, political decisions and immigration numbers) ... are obviously as well the parameters we don't know about including investor hype.

However - I do see a common theme in your long list of investment vehicles ... and this is prices going down. One of the reasons for that is that markets expect interest rates to go up. Does not matter whether you like that or not.

[Waltzing]

Yes did state the high was in at 1.70 and MR B took some profits.

ARG and GMT are currently undervalued from an Assets backing point of view according to the Valuations.

ARG will get hit for as long as interest rates climb.

But imagine if you could buy at under 1.40 at say 1.30? What a bargain as the market panics and money moves out.. The cycle will end and your sitting pretty.

You have to be thinking 5 to 10 year cycles.

[BlackPeter]

Yes did state the high was in at 1.70 and MR B took some profits.

ARG and GMT are currently undervalued from an Assets backing point of view according to the Valuations.

ARG will get hit for as long as interest rates climb.

But imagine if you could buy at under 1.40 at say 1.30? What a bargain as the market panics and money moves out.. The cycle will end and your sitting pretty.

You have to be thinking 5 to 10 year cycles.

I have a tradition of buying ARG around $1 ... and I like traditions ;

[arekaywhy]

thanks gents, confirms my thoughts

My concerns revolved around some other factor that I may have missed.

[Waltzing]

" ARG around $1 ."

well dont think it would stay there for long... for what ever reason it would get there in the first place... but! you never know..

support coming in today... no 1.40 yet.

[Waltzing]

bounding 1.43 - 1.47... no chance 1.40 at the moment the market is not that stupid.

[ronaldson]

Interim Result ( to 30 Sept ) scheduled to be announced tomorrow and will dictate price action for a while. Also the next quarterly dividend announcement is due. KPG result released today was perhaps a guide. I would not expect ARG to reach the same quantum of tenant support payments over the period as KPG, but a minor provision should be expected. NTA as at 31 March was $1.53 per share and should surely be reported as $1.60+ now. With a PIE yield of 4.5% currently I don't see a reversion to $1.40 let alone lower.

I know the projected rising interest rates are a negative factor but the reality is that these listed entities hedge their borrowings and it would take at least a couple of years to really impact the bottom line in any meaningful way. It is the relative investment returns on other assets, including term deposits, that make a direct shareholding less attractive as interest rates rise.

[winner69]

Plenty of +ve numbers in half year

NTA up to $1.64 a share


http://nzx-prod-s7fsd7f98s.s3-websit...305/359926.pdf

[Waltzing]

solid steady as it goes ... rent smell nice buildings...breath clean air ...

[winner69]

So pleased to see sustainability top of the key milestones list

Tell the world about good ESG stuff and get rewarded by a higher share price ….that’s the way the world works these days …at least in the eyes of the big investors (funds etc)

Top of the list - Continued focus on sustainability and green developments;