Precinct Benefiting from Excess Demand
Precinct Properties' third-quarter fiscal 2017 operating update revealed it was business as usual for the narrow moat-rated REIT. Fiscal 2017 guidance was reiterated for earnings of NZD 6.2 cents per security, or cps and distributions of NZD 5.6 cps. Both our earnings outlook and NZD 1.30 fair value estimate are unchanged, with Precinct slightly undervalued currently trading around NZD 1.21.The key driver of the business going forward will be the major office developments under way along the Au...
Precinct Properties New Zealand is engaged in investment in predominantly prime commercial office properties in the central business district of major New Zealand cities. As of June 30 2010, Co. had total assets of NZ$1,299,328,000 and investment properties portfolio valued at NZ$1,276,800,000.
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