Investore Property in the red after revaluation, looks to sell some assets

Investore Property in the red after revaluation, looks to sell some assets
Investore’s properties range from small individual shops to large supermarkets. (Image: Investore)
Riley Kennedy
Investore Property has lifted its net rental income in the past 12 months but, like other property companies, a hefty revaluation has pushed it into the red.And it has announced it will look to sell some assets and introduce a dividend reinvestment plan to “prudently position” its balance sheet, given the interest rate environment.The New Zealand stock exchange-listed property company saw its portfolio valuation decline by 14.9% or $185.2 million in the 12 months to March to $1.1 billion.The movement saw it produce a loss after tax...

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