Analysts upgrade Stride on developed management strategy

Stride's Meridian building in Wellington

Tue, 30 Jun 2020

Analysts reacted to Stride Property Group's annual results, post-balance date developments and flagging share price by upgrading their recommendations to various euphemisms of "buy." On the day the results were released last week, Stride's stapled securities were trading at $1.68, a 12 percent discount on net tangible assets, and they have since recovered to $1.77. Pre-covid, the shares had typically traded at a premium to NTA, notwithstanding that its directly held properties are now heavily skewed towards shopping centres at 62 percent...

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