Argosy Property

[Dolcile]

This seems like a good move

https://api.nzx.com/public/announcement/467214/attachment/461901/467214-461901.pdf

[Cod]

The sale price reflects a premium of 16.6% above its book value. -- From the notice to shareholders regarding 4 Henderson Place.

Now consider that this premium probably applies (more or less) to all the REITS and all their portfolio's of property. We haven't seen property portfolio price rise significantly in three years, they have in fact fallen -- An interesting question to ask is, what happens when they all rise significantly? and how will that effect NTA?

[Dolcile]

I'm not sure we can infer that all property is undervalued by that premium.  For example Kiwi Property just sold ASB wharf for a 3.3% discount to its carrying amount.

[Cod]

I'm not sure we can infer that all property is undervalued by that premium.  For example Kiwi Property just sold ASB wharf for a 3.3% discount to its carrying amount.

Thats why I said more or less.

[Basil]

Argosy have plenty of other development opportunities.  I see Henderson as a very poor, low growth area and I think it was a great move selling at that sized premium.  This is what can happen when a property is not on the market but someone else approaches you with an offer you can't refuse.  There's a saying that everything's for sale if the price is right and that's what's happened here. 
Disc: I hold quite a few.

[Waltzing]

up today is that a bounce after ACC dumped million in that notice?  with the country now in election year and the polls deadlocked the chances of a high growth country are gone...

take you dividends where you can find them...

hoping for 1.10....

hopeium is not a strategy but is that all that is left... HUNG parliment apparently...

Capitalism... terrible really...but its all thats left.. TINA...well Tibet monks would disagree ...

[Waltzing]

dont buy this stock!!! its a no growth stock.. why is the price going up!!!

now if you want a growth stock BUY ANZ...

Buy Turners... buy TINA - according to Winner the CEO somehow is a magician one moment looking like a Hedgehog and actually hes a FOX... well all good car salesman look like foxes to me.. ever studied the HG?  stays in one place for ages and curls up into a ball... cant see any CEO being an HG... 

anyway dont  buy this stock!!  it should be plummeting like a.... bit coin...and its an HG.. only does one thing.. houses stuff..i forgot in this country houses are very sort after..

[winner (n)]

No pay rise again ...haven't they heard about this cost of living crisis

March divie 1.6625

[Basil]

Consistent with guidance provided last year. Might get a pay rise for FY27 year.

[winner (n)]

Consistent with guidance provided last year. Might get a pay rise for FY27 year.

You joking eh

[Basil]

https://www.marketscreener.com/quote/stock/ARGOSY-PROPERTY-LIMITED-10859583/finances/
Average rating of 4 brokers "Outperform" Target price is $1.28
I have no idea if there's going to be an increase or not in dividend next year mate but its probably worth noting that thew average broker forecast is for it to remain the same.  Tax free yield at $1.15 is 5.78%, take shares in lieu of dividend at 2% discount and sell them later that becomes 5.78 / 0.98 = 5.9% net and its paid quarterly.  5.9% tax free is worth 8.8% gross to 33% taxpayers and 9.7% to 39% taxpayers.  Solid yield in a low interest rate environment. 

[winner (n)]

Commercial property market update from Chris Dibble at JLL

Highlights are -

Office sector shows signs of recalibration

Industrial sector remains the standout performer

Retail market evolves amid continued revival


https://images.discover.jll.com/Web/JLL/%7B9a4d1f5d-67c8-41d1-acb0-8880010c4e45%7D_4Q25_Market_Dynamics_-_website_version.pdf?utm_medium=email&utm_campaign=ap-nz-bnd-res-market-dynamics-4q25-0226&utm_source=newsletter&utm_content=83441

[entrep]

Isn't this kind of like Barfoots telling us how great the residential real estate market is doing (ie absolutely worthless)?

Commercial property market update from Chris Dibble at JLL

Highlights are -

Office sector shows signs of recalibration

Industrial sector remains the standout performer

Retail market evolves amid continued revival


https://images.discover.jll.com/Web/JLL/%7B9a4d1f5d-67c8-41d1-acb0-8880010c4e45%7D_4Q25_Market_Dynamics_-_website_version.pdf?utm_medium=email&utm_campaign=ap-nz-bnd-res-market-dynamics-4q25-0226&utm_source=newsletter&utm_content=83441

[Waltzing]

yes its like staples but everything get sold off together even when space get short as land use competes...

Comp Props still getting hammered...

[winner (n)]

10 Year Govt Stock spiked close to 4.7% yesterday and ARG share price reacted accordingly

10 year rate down a bit but today so ARG share price migh5 go uo ...tomorrow

But then a broker says correlation to bond spreads is rubbish these days so no worries

Migh5 get back to 120 one day ...soon