Kiwi Property shares little-moved by good news

Jenny Ruth
Wed, 20 Apr 2022

Kiwi Property shares little-moved by good news
Kiwi Property CEO Clive Mackenzie said the company is making good progress. (Image: NZ Herald)
Jenny Ruth
Wed, 20 Apr 2022
It appears that investors in Kiwi Property Group will only react to bad news because the shares barely moved after Tuesday's 5.7% increase in guidance on the dividend in the wake of stronger-than-expected trading in the March quarter.Kiwi shares are trading at $1.075, exactly where they were before the upgrade and about a 24% discount to net tangible assets (NTA) of $1.42 at Sept 30. They are 12.5% lower than where they were a year ago.The shares have never recovered from the big sell-down in mid-February 2020 when covid first hit – t...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets FREE
Auckland Airport’s outlook drags down shares
Ella Somers | Thu, 18 Aug 2022

Auckland Airport reported a profit of $191.6 million today and has hopes the next financial year will be more positive than the last two.

Primary Sector
NZ trawling innovation going global
Rebecca Howard | Thu, 18 Aug 2022

Government funding will be used to help commercialise a harvesting system developed through a previous Primary Growth Partnership programme called Precision Seafood Harvesting.

Consent refused for Thiel's luxury lodge
Brent Melville | Thu, 18 Aug 2022

It'll be back to the drawing board for the tech billionaire's NZ team, after their consent application was turned down by hearing commissioners.

In uncertain times, bricks and mortar hold steady

Can real estate provide a hedge against high inflation? Scott McKenzie, CEO of PMG Funds, talks about why tangible assets can be defensive and how PMG’s latest investment offer will help make the fund more resilient.

Communication the barrier to ‘human firewall’ technology

Communication is the barrier to New Zealand adopting the global Zero Trust cybersecurity strategy, says a new survey.