Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
[FONT="]Argosy Property Limited (‘Argosy’ or the ‘Company’) has reported its results for the 6 months to 30 September 2020.
Key highlights for the period include:[/FONT] • Net distributable income up 21.5%;
• Net distributable income per share up 21.2%;
• Robust portfolio metrics maintained with high occupancy (99.4%) and WALT (5.7 years);
• Strong portfolio leasing and rent review outcomes, including 3.8% annualised rent growth on rents reviewed;
• An unrealised revaluation gain of $79.8 million, an increase of 4.3% on book value;
• An increase in net tangible assets per share (NTA) to $1.41 from $1.30 at 31 March 2020;
• Strong delivery on key strategy focus areas including minimising Covid-19’s impact on the business, the continued focus on sustainability and green developments and executing on capital management initiatives;
• Argosy’s FY21 dividend guidance increased to 6.45 cents per share, reflecting continued sound delivery of strategy.
Nah - companies making money are boring. Real punters go for loss making ventures like AIR :
Anyway - results look much better than I expected after the Covid down turn. Respect. Still not sure how much more headspace the SP will have - I do expect the industry to go through some changes over the coming years. Less need for big office spaces and probably less need for big warehouses with huge parking spaces in front of them as well.
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"Prediction is very difficult, especially about the future" (Niels Bohr)
the only stock that has performed better than this is HLG , MFT EBOS and a few others and our new travel stocks which is not NZX.
But for a boring old building stock it has been outstanding performance from an NZX company.
in a low interest world, SP should be a lot lot higher. Far better than the bank.
GMT has increased space and has it leased out. NZ is a country that is not going to get smaller but actually people will be lining up to invest and have NZ as a shelter from the MADENING CROWD.
See post #181 above. Happy holder. NTA now $1.41 and I believe this represents very sound value in this sector. It wouldn't surprise me to see this in the $1.50-$1.60 range in due course. I'd be happy to accumulate more at NTA if the opportunity presents.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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Originally Posted by DDog
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