GMT has been a fab trade and will be going forward.
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GMT has been a fab trade and will be going forward.
ARG might move into GMT direction but where does it get the land from?
Kiwi sitting at exactly average -7.1% year to date performance for the 8 listed property equities on the NZX:
Attachment 13551
winner notice the SP handles for commercial props in 2007.
the 10s are moving a bit yes.
Top notch appointment by KPG - this Joanna seems to be ideal, esp as " ..her expertise at the intersection of HR and transformation will be invaluable as Kiwi Property continues its evolution into a creator of world-class mixed-use communities.”
Got to love the spin from Kiwi trying to seduce even more investors into the fold
only thing going to move this SP is earnings and that is yet to appear.
Tractor supply stocks are up in the US...
Buy Agri stocks... next 5 years is commodities..
KPG has at least one major transaction that is due to close (sale of large Mall properties in Christchurch & Palmerston North), which could be market moving when announced. However that has been in final stages for months so who knows when that will finally happen.
Also, if Stagflation is actually on its way, Real estate trusts are historically a good performing asset class in that environment:
Edit to add: Also if we end up with just good old regular high inflation instead of stagflation, then that is also usually a good environment to own Real Estate Trusts, especially those with low gearing ratios.Quote:
For example, Schroders crunched data and found that the top performers during periods of stagflation have been gold (+22.1 per cent), commodities (+15.0 per cent) and real estate investment trusts (REITs) (+6.5 per cent)
I think this sums up the culture problem at KPG. They see their role as creating wonderful environments for mixed-use communities, in other words community users are the key stakeholder they are serving. They lost their focus on serving shareholders, (who should have always been their primary focus), with trying to grow eps a long long time ago.
If the focus was always on what's going to be an eps accretive growth opportunity for shareholders we would have seen vastly different long term outcomes for them. The one analyst call I tuned into last year gave me the clear impression that eps growth is a subject that's not even on their radar.