Lizard
16-03-2012, 09:26 PM
A good quality Aussie Property Trust. Yield is over 9.5% at current price of 73cps. Forecasting 7cps total div - usually pay out quarterly, so good for income.
For NZer's large enough to be within FIF regime, although unable to use franking, income will be assumed to be 5% of 31 March share price. Based on current s.p. and 28% tax rate, gives a net yield of around 8.2% by my calcs.
Gearing approx 50% - high by current NZ standards, but not so much by Aussie. Trading just above NTA.
The manager is in house and is increasingly managing external assets. Will generate additional management revenue from 2013 which should help to support earnings and dividends.
For NZ income investors, could be a good geographical diversification of REIT income, with net yield ahead of the typically 6%-7% ish currently available on NZ property trusts.
For NZer's large enough to be within FIF regime, although unable to use franking, income will be assumed to be 5% of 31 March share price. Based on current s.p. and 28% tax rate, gives a net yield of around 8.2% by my calcs.
Gearing approx 50% - high by current NZ standards, but not so much by Aussie. Trading just above NTA.
The manager is in house and is increasingly managing external assets. Will generate additional management revenue from 2013 which should help to support earnings and dividends.
For NZ income investors, could be a good geographical diversification of REIT income, with net yield ahead of the typically 6%-7% ish currently available on NZ property trusts.