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
Is someone shorting ARG? A sizable drop at the close! I submitted a buy order towards the close for 1.35 but I was sold at 1.32 (pleasantly surprised to see the contract note from ASB). Anyone had similar experience.
I hold a modest stake but have no insight as to what happened on the close. Just looks like it hit an air pocket. I would expect it to revert to the mid 130's tomorrow and I think its a sound hold for dividend income at that level. REIT's not exactly flavour of the month right at the minute.
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
Capital Management
At 30 September 2019, Argosy's debt-to-total-assets ratio, excluding
capitalised borrowing costs, was 36.2% versus 35.6% at 31 March 2019. The
ratio reflects the net impact of acquisitions and developments during the
period, offset by revaluation gains. The ratio also excludes the lease
liability and right of use asset at 39 Market Place of $41.8 million,
recorded in the period for the first time under NZ IFRS 16.
36% gearing is well within predetermined limits and very conservative for a property company in this interest rate environment.
Yes GMT and some others are lower but I don't think that necessarily in shareholders best interests.
Average analyst view is $1.34. https://www.marketscreener.com/ARGOS...583/consensus/
Dividends have gone up slightly in recent years. Fully tax paid PIE yield is 4.76% at the current price which is 7.1% gross for taxpayers on a 33% tax rate. I think that's a very satisfactory yield for a modestly geared well diversified property company and I note ARG is to the best of my knowledge the only property company to trade at such a very modest premium to NTA which is now $1.28. Happy holder.
Last edited by Beagle; 26-11-2019 at 07:05 PM.
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
Is someone shorting ARG? A sizable drop at the close! I submitted a buy order towards the close for 1.35 but I was sold at 1.32 (pleasantly surprised to see the contract note from ASB). Anyone had similar experience.
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 RRR
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