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Kiwi Property Group ( (NZ:KPG) ) has provided an announcement.
Kiwi Property Group reported a solid operating performance for the year to 31 March 2026, with net rental income up 4.3% to $202.4m and operating profit before tax rising 8.6% to $126.2m, even as valuation declines dragged net profit after tax down 11.5% to $50.4m. Portfolio occupancy climbed to 99.0%, while adjusted funds from operations increased 8.0% to $100.2m, supporting a 3.7% lift in the full‑year dividend to 5.60 cents per share and a strengthened balance sheet that prompted S&P to restore a stable BBB credit outlook.
The company advanced its capital recycling strategy with the sale of The Plaza and a $205m agreed sale of ASB North Wharf, which is set to cut pro forma gearing to 33.3% and free capital for reinvestment into core assets such as Sylvia Park and the long‑term Drury development. Strategic refinements reinforced a focus on best‑in‑class retail‑led mixed‑use assets, while new tenant deals at Drury, upgrades at Sylvia Park and Vero Centre, and ongoing sustainability and efficiency initiatives aim to bolster earnings resilience and support modest dividend growth guidance into FY27 despite a challenging macroeconomic backdrop.
More about Kiwi Property Group
Kiwi Property Group is one of the largest listed property companies on the New Zealand Stock Exchange and a member of the S&P/NZX 20 Index. The company owns and manages a significant portfolio of mixed‑use, retail and office assets across New Zealand, targeting reliable, long‑term investment returns from high‑quality commercial property.
YTD Price Performance: -9.35%
Average Trading Volume: 1,358,319
Technical Sentiment Signal: Buy
Current Market Cap: N$1.55B
Learn more about KPG stock on TipRanks’ Stock Analysis page.