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)

Fri, 19 May 2023

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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