The NZX-listed fund manager expects a full-year distributable profit of between 11.30c and 11.50c a share.
NZX-listed Stride Property Group has lifted its full-year guidance as acquisitions and its fund management activities increased income.
Stride, listed as a stapled security of Stride Property Ltd and Stride Investment Management Ltd, now expects distributable profit after tax for the year ended March 31 to be between 11.30c and 11.50c a share.
It had previously forecast distributable profit of between 9.91c and 10.43c a share.
With 472.82 million securities issued, the new guidance works out to a total distributable profit of between $53.4 million and $54.4m.
Stride Property Ltd & Stride Investment Management Ltd (NZX: SPG) Industre Property Joint Venture Growth Continues Wednesday 16th December 2020
Stride Property Group is pleased to advise that the Industre Property Joint Venture (Industre) has entered into an unconditional agreement to acquire an industrial property at 48-60 Wilkinson Road, Ellerslie, for $54m.
This acquisition builds on the four acquisitions already completed by Industre since it commenced operations on 1 July 2020 and takes the total value of property acquired by Industre since commencement to $99.5m. Following this acquisition, the Industre portfolio of industrial properties will be valued at $553m (on a pro forma basis, based on 30 September valuations plus completed acquisitions and developments).
Stride Property Ltd & Stride Investment Management Ltd (NZX: SPG) Share Purchase Plan Closes Oversubscribed Monday 14th December 2020
Stride Property Group is pleased to announce that its $40 million share purchase plan has closed oversubscribed.
The share purchase plan received strong shareholder support, being approximately 26% oversubscribed. Stride has elected to accept additional applications to bring the total amount accepted under the share purchase plan to $50 million. Applications will be scaled by reference to the number of Stride shares held as at 5pm on the record date (24 November 2020), and surplus application amounts will be refunded in accordance with the terms of the share purchase plan offer document dated 30 November 2020.