Rising interest rates take shine off listed property stocks

Rising interest rates take shine off listed property stocks
Precinct Properties opened its first Generator offices in Wellington at 30 Waring Taylor St last month. (Image: supplied)
Brent Melville
Listed property sector stocks were down 3.2% last month, on the back of both weaker than expected reporting and as rising bond yields begin to weigh on investor demand for listed real estate.While none of the 10 property vehicles (LPVs) were left unscathed, the downward trend was led by diversified commercial investor and manager Stride Property, which saw its share price lose 11.4%, Forsyth Barr says.That was after it announced a $120 million equity raise at an 11% discount to the previous close, aimed at lowering its gearing levels.Big box re...

More Property

Beachlands South development appeals settled
Property

Beachlands South development appeals settled

Appeals challenging the approval of a plan change for the Beachlands South development have been settled, paving the way for the multi-billion dollar project to proceed.“The success of negotiating a sensible outcome means that the development process can now move forward with the...

Winton 'stands to gain millions': MP
Property

Winton 'stands to gain millions': MP

The proposed fast-tracking of Sunfield is 'cronyism', local MP claims.

Olliver avoids bankruptcy – for now
Property

Olliver avoids bankruptcy – for now

A bid by BNZ to bankrupt the developer has been adjourned until February.

Maria Slade 10 Dec 2024
‘Unjust’: NZers battle Queensland tax laws
Property

‘Unjust’: NZers battle Queensland tax laws

State of origin battle develops over land taxes Queensland slaps on NZ buyers.

Garth Bray 10 Dec 2024