Argo Global Listed Infrastructure Posts NTA Dip but Outperforms Benchmark Over 2024

Argo Global Listed Infrastructure Ltd. ( (AU:ALI) ) has provided an update.

Argo Global Listed Infrastructure Ltd. reported a decline in its net tangible asset (NTA) backing per share at 31 December, with NTA per share falling to $2.62 from $2.73 a month earlier, and NTA after unrealised tax provision easing to $2.57 from $2.65. The update comes against a weaker December for global listed infrastructure, which fell 3.4% in Australian dollar terms and lagged broader global equities amid investor rotation into more cyclical sectors and away from defensive regulated utilities. Despite the sector headwinds, Argo Infrastructure’s share price gained 5.0% in December and 15.9% over the year, and its portfolio outperformed its infrastructure benchmark over one-, three-, five-year and since-inception periods, underscoring its defensive diversification appeal and the perceived strength of its active, globally focused investment strategy for shareholders.

The most recent analyst rating on (AU:ALI) stock is a Buy with a A$3.00 price target. To see the full list of analyst forecasts on Argo Global Listed Infrastructure Ltd. stock, see the AU:ALI Stock Forecast page.

More about Argo Global Listed Infrastructure Ltd.

Argo Global Listed Infrastructure Ltd. is an Australian-listed investment company (ASX: ALI) that provides investors with exposure to a diversified portfolio of global listed infrastructure stocks. Launched in 2015 and managed by Argo Investments with portfolio management by specialist real assets manager Cohen & Steers, the company targets infrastructure opportunities across developed and emerging markets, aiming to deliver enhanced risk-adjusted returns and diversification benefits through a single ASX-traded vehicle.

YTD Price Performance: -1.97%

Average Trading Volume: 93,280

Technical Sentiment Signal: Buy

For an in-depth examination of ALI stock, go to TipRanks’ Overview page.