Interesting article. Good for Hamilton but probably not much impact on the whole Kiwi Group.
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anyone know how long annual meeting go for and what the food like afterwards ?
Usually about an hour.
Cup of tea and sandwiches,sausage rolls scones etc. for 10am or 2pm start time.
11am start time a light lunch.Tea and coffee.
Bit old fashioned now, but the must attend agm started at 4 pm on a Friday afternoon.Top class wine etc.
PS.If you want to know anything about the company,wait to after the meeting when directors are looking for a shareholder to talk to...lol
Up nicely, over 3 percent. Nearly 6 times normal volume
A reminder that the AGM is today at 1.30pm, and can be viewed live online here: www.virtualmeeting.co.nz/kpg24
Sounds like I didn't miss much then. Was going to watch, but (w)life got in the way......
i went to the meeting yest. i enjoyed the meeting being short and i had some good conversation with board members and ceo afterwards on outlook.
responses to my questions were very informative giving me confidence that they have very good planning in place and strategy for next yrs ahead.
my questions were all related to cashflows , debt levels and strategies around BTR , and capital needed for stage 2 drury
What attracts you to KPG bull?
Wouldn't have thought it was your cup of tea at all, or are you in a short position?
building positions in some income stocks in NZ on the assumption interest rates will be declining at some stage.
when looking at income propositions its of particular importance thet div's can be maintained. It was expalined to my self that the reduction in div from .057 to .054 was entirely related to depreciation changes.
I commented that there was a gap in there cashflows going forward to support the current new div in the next couple yrs but he said they are well aware and have a plan in place.
Part of the plan explained to myself enabled them to maintain current div and look to grow it from yr 26 +
the resido will not provide meaniful cashflows in this time period.
That’s interesting Bull. Thanks for posting your “why”. I’ve been thinking about income as well and settled on KFL…I realise the fund eats itself to a degree to deliver the high div and I pay a management fee but I like that the holdings are blue chip and the biggest holdings are making a lot of their income outside of nz..fph, mft, ift etc.
I don’t like the single sector/market risk of kpg and others ..Kfl paying similar dividend %
Ive been just buying on dips and using drp and discount to accumulate over last 6 months so my ave price is 1.167.
KFL seems a lazy way to get a bit of growth and acceptable div over time in quite a safe diversified manner.
im not a fan off kfl except for trading , but ackknowledge they are a good idea in a rising market to hold
glad you realize they eat themselves by paying out more in div's than they earn in revenue , so reliant on growth in there portfolio they are.
i agree with you kpg is an investment based on the property market to a degree but more so on the state of the economy and as such fortunes could fluctuate based on the cycle of the economy.
Herald article talking up KPGs Drury development
https://www.nzherald.co.nz/business/...PZFTV256GJ6UM/
<wrong thread>
on fire :t_up:
I am by no means an advocate of TA & charting etc, but KPG finally broke out above its moving averages
Attachment 15188
Hard to love a stock with so many uncertainties. Previously it was in the property investor business. Now it is doing a huge development in Drury and has moved into the build to let residential business. Having said that, I am hanging in there as a shareholder, hoping it pans out well.
You say it like build-to-rent is not property investing? There's a lot of it going on at the moment, KPG just happened to be a first mover which means they're early to market as well.
I like their concept of BTR surrounded by commercial, retail property as well, creating a whole new metropolitan community. It's just one of the KPG properties, but at 53 hectares, it's forward looking and ambitious. They've already attracted some blue-chip properties, like the IKEA sale next door.
This is not to ignore the other blue-chip properties KPG hold, Sylvia Park, LynnMall, The Base, are some standouts.
It might have a slightly lower yield now but Drury for example has potential for 100% occupancy, and none of the many uncertainties and huge expenses that KPG have divested away from.
I'm a lot more comfortable with the future of KPG with this change in strategy, unloading risky expensive to maintain assets (mainly to meet earthquake standards which cost 100's millions to remediate and held back KPG for many years), and the new developments happening at pace.
Still at 7.8% gross yield even after a small reduction in dividend % due mainly to depreciation not being an expense anymore (thanks Coalition, not).
I think we're seeing the bottom of the broader property market recession with CPI coming down, interest rates starting to fall. I've tripled my holding in KPG recently at 27% discount to posted NTA.
Time will tell whether that was a good decision!
I know most people seem to have a relatively short term horizon and are focused on stock price capital gains, but let's look at some simple maths.
What does 5% return compounding do to your capital in 15 years? If you can do that, with bank term deposits, or equities, or any other investing instrument, at relatively low risk, would you turn it down?
No I would go with Bob Jones on this who often complains in the press that he is described as a 'property developer". He says he is not - he is a property investor. Build to rent is property development because you carry the project development risk and also the risk of finding new tenants. For example if you buy shares in Investore, the buildings are already there and are 99% leased most and have long lease terms. So I would argue Investore is a pure property investor while Kiwi is hybrid of investor and developer.
https://www.nzherald.co.nz/nz/kiwi-p...JELU4VVM5KCZI/
Kiwi Property manager Mark Hamilton under fire after calling blogger a ‘pedophile’ over work email
Quote:
A manager at a high profile property development company is being spoken to by the company after using his work email to make “inappropriate and disappointing comments” to the author of a blog on gender affirming care and puberty blockers.
Mark.. old son - Now who's the dozey pl^% who used his WORK EMAIL to sign up for them List messages in the first place, then dishes it out when he doesn't like what he reads ?
But then that boomerangs & results in some incoming Hotter landing back in than went out
Must of thought that nothing would come back .. using his Work Email Address :)
.
KPG know what you're doing in Work time on their Computers etc .. or maybe not yet ? ;)
Some new Rapid Seismic ReProgramming coming your way now with custom blockers installed ?
Can't say you didn't completely do it to yourself ..
Shame.. but if you can't manage the most basic parts of Internet Communications 101 without making an Ass of yourself, then God help KPG - they & the KPG stakeholders probably all deserve better ;)
on fire , closing the nta gap
The spike was on a few very small $000's, either the bots got their wires crossed or some minnows got a bit excited, gifting an easy 4-5 cents to the traders later in the day.
bull**** says "on fire", Lol, a far worse ramper than his usual down-ramper MO.
Still 25% discount to NTA. Cheap as.
After over 2 years of battering from interest rates and another two before that with crazy pandemic responses we may finnaally see some light in the near future with OCR drops
SP up to 88
Agreed and own KPG, but still doesn't beat 2CC 15ish% gross