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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...

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