Argosy Property

[Waltzing]

ITS a Hawkins paradox.. economy pickups , ocr kickups, RIETs go down and then have a slow rise back.. REITS are not growth stocks ... even when the economy is growing...

You buy them when there is a BIG BAD event...and sell when the good times roll... or hold for DIV... your AVE should be under 1.20.. not over in this decade... or maybe the next...they are more like the ballast in your portfolio..

[Basil]

I believe the recovery in the economy is fragile and the reaction with REITS is overdone.

[Waltzing]

if it goes under 10 well...

[Waltzing]

It appears ACC has been selling some down...

The comp props have been all over the place for a while..

so much for low interest rates ....

wonder how the insto have done on metals the other day...and did they buy european war stocks 2 years ago...

[Waltzing]

when and if this blows you may want some of these boring no growth shares...

https://claude.ai/public/artifacts/9a6d6e5b-a817-4045-b91b-a8cc89d28a07

[winner (n)]

ARG unloved at the moment ...down to 115

Suppose not surprising as 10 Year Govt still trending up

[Basil]

Salt reckon the gap to bond rates has hardly ever been higher.
I topped up with some more ARG yesterday at $1.15 and remain on the bid for more at that price.  5.78% net yield at that price and a quarterly divvy next month.  5.78% net is worth 5.78 / 0.61 = ~9.5% gross for 39% taxpayers.
https://www.saltfunds.co.nz/_files/ugd/9b51d8_fa79c5b435e84eab92663c79cdfd9a1a.pdf

[Waltzing]

waiting for 1.10 .... or 1.08... or will that be like the wait for HLG and it never got down to it historical BUY.. why cause AUS did not dip into a monumental recession....

lets hope the new southern motorway to central north island and the new rail transits in auckland motorway widening does not result in productivity increasing in auckland and Auckland and central North Island economies returning to there busting best before we can buy them Dirt Cheap...

"Dirt Cheap" ... pun there...

[winner (n)]

Salt reckon the gap to bond rates has hardly ever been higher.
I topped up with some more ARG yesterday at $1.15 and remain on the bid for more at that price.  5.78% net yield at that price and a quarterly divvy next month.  5.78% net is worth 5.78 / 0.61 = ~9.5% gross for 39% taxpayers.
https://www.saltfunds.co.nz/_files/ugd/9b51d8_fa79c5b435e84eab92663c79cdfd9a1a.pdf

Gap to bond rates hardly ever been higher Salt say

Suppose that means they expect ARG yield to shrink .....with share price going up .....yes?

Or they will

[Waltzing]

if your holding comp props for decades your buying for the wrong reason...

want growth you need to buy global stocks and hit buy fast... for example memory chips have been on fire ever since the first VN chips came out...

now some token windows are at a million token * Bytes....

and they have slowed the process down to allow to Check itself more often and this is just within a few recent months.. that takes more memory..

GUNS GUNS and Vissles...

But comp props... they arnt going anywhere... and that means in 5 years the yields will likely be higher... they are retirement stocks...

now HLG and retail... high risk and reward...

track COMP PROP yield to OCR rates in 2007...

they arnt expecting yield to shrink but the yield at the long end is risk free and almost as high but it does not come with IMP Credits and excluded income...

Ai worked it out finally and now populated transaction entry with all dividend properties along with normal bank transactions...

AI can then instantly work out the investment portfolio returns in third party banking apps..

and inform investors with this level of access which options will be best for the individual investor..

The investor wont need salt...except to trade in of course...

[winner (n)]

Gap to bond rates hardly ever been higher Salt say

Suppose that means they expect ARG yield to shrink .....with share price going up .....yes?

Or they will

Salt guys seem to be saying that the ARG share price should be over $1.40 if the gap was normal

Suppose that's why the gurus arvSalt have gone long on property companies.

[Basil]

KPG dirt cheap at 98.5 cps this morning in my opinion.

[entrep]

KPG is more exposed to structural changes like WFH and AI-disruption than Argosy?

ARG is more office-exposed on paper (37%), but it's anchored by industrial (53%), which is generally a hedge against this theme.  �
   •   KPG is more exposed to the structural shift because:
   •   Its strategy is explicitly retail-led mixed-use with a large office + retail ecosystem (so office softness can reduce "halo" benefits for onsite retail/dining/services).  �
   •   Third-party credit commentary pegs KPG's mix at ~66% mixed-use, 25% office as at 30 Sep 2025 (consistent with KPG's reporting).  �

✅ Answer: KPG is more vulnerable overall to the AI/WFH trade (because its core is mixed-use + offices + retail ecosystems), even though ARG has a higher pure "office %" line item.  �

[Waltzing]

dont tell anyone they are cheap it might be the buy of the decade.. decades...

[Basil]

They're very cheap, like a whole aviary full of budgies that squawks cheep cheep loudly all the time lol.  If I didn't have so many already I'd get the truck out and back it up.  I did do a small top-up on ARG this morning at the open at $1.15.  Decent discount to NTA and 9.5% equivalent gross return for 39% taxpayers.  Who needs retirement companies that pay you nothing for years in a row but if they can turn themselves around okay might or might not pay you a miserable 1 or 2% in a few years time.  Why bother with them ?