Kiwi's retail and Goodman's industrial properties diverge

Tue, 09 Jun 2020

Listed property stocks tend to track in much the same direction but the covid-19 crisis has opened up a yawning chasm between Kiwi Property Group shares and Goodman Property Trust units, respectively the best and worst performers in the sector on the NZX. Forsyth Barr analyst Rohan Koreman-Smit said the divergence between the two securities "is probably the widest it's ever been." Some of that gap is because Kiwi's gearing, 32 percent at March 31, is higher than Goodman's, which was 18.9 percent at the same date. But mostly it comes do...

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