Announcement • Apr 16
Winton Land Limited Receives Fast-Track Approval for Ayrburn Screen Hub Winton Land Limited was granted approval, subject to conditions, for the Ayrburn Screen Hub under the Fast-track Approvals Act 2024. The Expert Panel issued the final decision, which remains subject to the statutory 20 working day appeal period. The Ayrburn Screen Hub is an all inclusive film studio enabling users to work and stay onsite through filming, production and post-production with studio buildings, workrooms, office space for film departments, dressing rooms, a screening room and meeting space, with accompanying 201 unit accommodation for film workers and visitor accommodation when there aren’t films in production. The facility will be located adjacent to the Ayrburn Hospitality Precinct and Northbrook Arrowtown, nestled between Arrowtown and Lake Hayes. Price Target Changed • Mar 11
Price target increased by 22% to NZ$2.75 Up from NZ$2.25, the current price target is provided by 1 analyst. New target price is 39% above last closing price of NZ$1.98. Stock is up 3.1% over the past year. The company is forecast to post earnings per share of NZ$0.031 for next year compared to NZ$0.035 last year. Reported Earnings • Feb 22
First half 2026 earnings released: NZ$0.003 loss per share (vs NZ$0.007 loss in 1H 2025) First half 2026 results: NZ$0.003 loss per share (improved from NZ$0.007 loss in 1H 2025). Revenue: NZ$32.4m (down 60% from 1H 2025). Net loss: NZ$890.0k (loss narrowed 56% from 1H 2025). Revenue is forecast to grow 64% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Real Estate industry in Oceania. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Announcement • Jan 13
Winton Land Limited to Report First Half, 2026 Results on Feb 20, 2026 Winton Land Limited announced that they will report first half, 2026 results on Feb 20, 2026 New Risk • Dec 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of New Zealander stocks, typically moving 5.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NZ$2.40, the stock trades at a forward P/E ratio of 184x. Average forward P/E is 16x in the Real Estate industry in Oceania. Total loss to shareholders of 2.7% over the past three years. Reported Earnings • Aug 27
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: NZ$0.035 (down from NZ$0.053 in FY 2024). Revenue: NZ$155.4m (down 11% from FY 2024). Net income: NZ$10.3m (down 34% from FY 2024). Profit margin: 6.6% (down from 9.1% in FY 2024). Revenue missed analyst estimates by 9.7%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 37% p.a. on average during the next 2 years, compared to a 9.7% growth forecast for the Real Estate industry in Oceania. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Aug 27
Winton Land Limited, Annual General Meeting, Oct 22, 2025 Winton Land Limited, Annual General Meeting, Oct 22, 2025. Price Target Changed • Aug 07
Price target decreased by 10.0% to NZ$2.25 Down from NZ$2.50, the current price target is provided by 1 analyst. New target price is 11% above last closing price of NZ$2.03. Stock is up 6.8% over the past year. The company is forecast to post earnings per share of NZ$0.0061 for next year compared to NZ$0.053 last year. Announcement • Jul 11
Winton Land Limited to Report Fiscal Year 2025 Results on Aug 27, 2025 Winton Land Limited announced that they will report fiscal year 2025 results Pre-Market on Aug 27, 2025 Major Estimate Revision • Feb 28
Consensus EPS estimates fall by 92% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NZ$183.2m to NZ$172.1m. EPS estimate also fell from NZ$0.0802 per share to NZ$0.0061 per share. Net income forecast to grow 126% next year vs 6.3% growth forecast for Real Estate industry in New Zealand. Consensus price target down from NZ$2.50 to NZ$2.35. Share price rose 2.2% to NZ$1.89 over the past week. Reported Earnings • Feb 25
First half 2025 earnings released: NZ$0.007 loss per share (vs NZ$0.033 profit in 1H 2024) First half 2025 results: NZ$0.007 loss per share (down from NZ$0.033 profit in 1H 2024). Revenue: NZ$81.1m (down 5.3% from 1H 2024). Net loss: NZ$2.00m (down 121% from profit in 1H 2024). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Real Estate industry in Oceania. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. New Risk • Feb 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 39% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.4% net profit margin). Announcement • Jan 22
Winton Land Limited to Report First Half, 2025 Results on Feb 21, 2025 Winton Land Limited announced that they will report first half, 2025 results on Feb 21, 2025 Valuation Update With 7 Day Price Move • Oct 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NZ$2.11, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 13x in the Real Estate industry in Oceania. Total loss to shareholders of 12% over the past year. Major Estimate Revision • Aug 30
Consensus EPS estimates fall by 37% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NZ$201.9m to NZ$183.2m. EPS estimate also fell from NZ$0.128 per share to NZ$0.08 per share. Net income forecast to grow 51% next year vs 26% growth forecast for Real Estate industry in New Zealand. Consensus price target down from NZ$2.80 to NZ$2.50. Share price was steady at NZ$1.90 over the past week. Price Target Changed • Aug 28
Price target decreased by 11% to NZ$2.50 Down from NZ$2.80, the current price target is provided by 1 analyst. New target price is 30% above last closing price of NZ$1.92. Stock is down 18% over the past year. The company is forecast to post earnings per share of NZ$0.08 for next year compared to NZ$0.053 last year. Reported Earnings • Aug 23
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: NZ$0.053 (down from NZ$0.22 in FY 2023). Revenue: NZ$173.6m (down 18% from FY 2023). Net income: NZ$15.7m (down 76% from FY 2023). Profit margin: 9.1% (down from 31% in FY 2023). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 58%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Real Estate industry in Oceania. Announcement • Aug 23
Winton Land Limited, Annual General Meeting, Oct 24, 2024 Winton Land Limited, Annual General Meeting, Oct 24, 2024. Buy Or Sell Opportunity • Aug 23
Now 27% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.4% to NZ$1.90. The fair value is estimated to be NZ$2.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Earnings per share has declined by 38%. Revenue is forecast to grow by 9.5% in 2 years. Earnings are forecast to grow by 17% in the next 2 years. Buy Or Sell Opportunity • Jul 24
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to NZ$1.87. The fair value is estimated to be NZ$2.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Earnings per share has declined by 38%. Revenue is forecast to grow by 9.5% in 2 years. Earnings are forecast to grow by 17% in the next 2 years. Announcement • Jul 23
Winton Land Limited to Report Fiscal Year 2024 Results on Aug 23, 2024 Winton Land Limited announced that they will report fiscal year 2024 results Pre-Market on Aug 23, 2024 Buy Or Sell Opportunity • Jul 05
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to NZ$1.82. The fair value is estimated to be NZ$2.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Earnings per share has declined by 38%. Revenue is forecast to grow by 9.5% in 2 years. Earnings are forecast to grow by 17% in the next 2 years. Buy Or Sell Opportunity • Jul 03
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to NZ$1.84. The fair value is estimated to be NZ$2.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Earnings per share has declined by 38%. Revenue is forecast to grow by 9.5% in 2 years. Earnings are forecast to grow by 17% in the next 2 years. Buy Or Sell Opportunity • Jun 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to NZ$1.92. The fair value is estimated to be NZ$2.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Earnings per share has declined by 38%. Revenue is forecast to grow by 9.5% in 2 years. Earnings are forecast to grow by 17% in the next 2 years. Announcement • May 25
Winton Land Limited Announces Cessation of Jelte Bakker as Alternate Director Winton Land Limited announced that Jelte Bakker has ceased to be an alternate director to James Kemp on the Board, on and from the close of 24 May 2024. Jelte was appointed in February 2022 as an alternate director to James Kemp (in his capacity as a representative of TC Akarua 2 Pty Limited (as trustee of the TC Akarua Sub Trust)), a substantial shareholder in Winton. James Kemp remains in his role as director. Major Estimate Revision • Feb 27
Consensus revenue estimates fall by 10% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from NZ$185.2m to NZ$166.6m. EPS estimate fell from NZ$0.141 to NZ$0.121 per share. Net income forecast to shrink 7.6% next year vs 15% growth forecast for Real Estate industry in New Zealand . Consensus price target of NZ$2.80 unchanged from last update. Share price was steady at NZ$2.50 over the past week. Declared Dividend • Feb 22
First half dividend of NZ$0.0065 announced Shareholders will receive a dividend of NZ$0.0065. Ex-date: 26th February 2024 Payment date: 12th March 2024 Dividend yield will be 1.3%, which is lower than the industry average of 3.9%. Payout Ratios Payout ratio: 20%. Cash payout ratio: 71%. Reported Earnings • Feb 21
First half 2024 earnings released: EPS: NZ$0.033 (vs NZ$0.12 in 1H 2023) First half 2024 results: EPS: NZ$0.033 (down from NZ$0.12 in 1H 2023). Revenue: NZ$85.6m (down 7.7% from 1H 2023). Net income: NZ$9.73m (down 72% from 1H 2023). Profit margin: 11% (down from 37% in 1H 2023). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Real Estate industry in Oceania. Announcement • Feb 12
Winton Land Limited Announces Retirement of David Liptak from the Board, Effective 12 February 2024 Winton Land Limited (Winton) referred to the NZX announcement dated 24 November 2023 advising of David Liptak's intention to retire from the Board. Winton confirms that David Liptak's date of retirement is effective on and from the close of 12 February 2024. New Risk • Feb 12
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 4.1% per year for the foreseeable future. High level of non-cash earnings (24% accrual ratio). Minor Risk Shareholders have been diluted in the past year (5.0% increase in shares outstanding). Announcement • Jan 16
Winton Land Limited to Report Fiscal Year 2024 Results on Feb 20, 2024 Winton Land Limited announced that they will report fiscal year 2024 results at 10:00 AM, IDLE - International Date Line on Feb 20, 2024 Announcement • Nov 24
Winton Land Limited Announces Director Changes Winton Land Limited announced the appointment of Guy Fergusson as non-executive director, effective from, 24 November 2023. Guy will be a member of both the Audit and Financial Risk Committee and the Nomination and Remuneration Committee. He will hold office until Winton's 2024 Annual Meeting, at which time he will retire and offer himself for election by the shareholders. Guy has 28 years of experience in corporate finance and international capital markets. He joined Grant Samuel in 2009 as Co-Head of Capital Advisory, where he worked for the last 14 years including most recently as the Co-CEO of Grant Samuel until September 2023. He has extensive boardroom experience and a wealth of knowledge working with different sectors, including real estate. The Board has determined that Guy is currently a non-independent director, given his previous role at Grant Samuel, who acted as Financial Adviser on Winton's 2021 initial public offering. David Liptak has notified the Board that he intends to retire as a Director from the Board immediately following the completion of the second tranche of the Transaction. Announcement • Sep 04
Winton Land Limited, Annual General Meeting, Oct 25, 2023 Winton Land Limited, Annual General Meeting, Oct 25, 2023, at 12:00 NZST - New Zealand Standard. Major Estimate Revision • Aug 28
Consensus revenue estimates fall by 25% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from NZ$248.0m to NZ$185.2m. EPS estimate fell from NZ$0.222 to NZ$0.141 per share. Net income forecast to shrink 35% next year vs 8.5% growth forecast for Real Estate industry in New Zealand . Consensus price target broadly unchanged at NZ$2.75. Share price fell 7.1% to NZ$2.37 over the past week. New Risk • Aug 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 4.1% per year for the foreseeable future. High level of non-cash earnings (24% accrual ratio). Reported Earnings • Aug 23
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: NZ$0.22 (up from NZ$0.12 in FY 2022). Revenue: NZ$211.4m (up 33% from FY 2022). Net income: NZ$64.6m (up 104% from FY 2022). Profit margin: 31% (up from 20% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 10%. Earnings per share (EPS) also missed analyst estimates by 15%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 8.6% growth forecast for the Real Estate industry in Oceania. Announcement • Jul 06
Winton Land Limited to Report Fiscal Year 2023 Results on Aug 22, 2023 Winton Land Limited announced that they will report fiscal year 2023 results Pre-Market on Aug 22, 2023 Announcement • Jun 22
Winton Land Limited Announces Board Changes Winton Land Limited announced that Anna Molloy will retire from the Board to pursue other opportunities, effective on and from the close of 22 August 2023. The company further announced the appointment of Steven Joyce as a director, effective from 22 June 2023. Steven will take on the position of Chair of the Audit and Financial Risk Committee from 22 August 2023. The Board has determined that Steven is an Independent Director and that he will hold office until Winton's 2023 Annual Meeting, at which time he will retire and offer himself for election by the shareholders. Steven is currently the director of Joyce Advisory Limited, providing independent advice to boards, including on finance and economics and strategy execution. Steven served as a senior economic minister in the recent Key/English National-led government, holding the portfolios of Finance, Economic Development, Science and Innovation, Transport, ICT and Tertiary Education, Skills and Employment during his time in government. New Risk • Jun 21
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. High level of non-cash earnings (30% accrual ratio). Announcement • May 12
Winton Land Limited Appoints Duncan Elley to its Senior Leadership Team as General Manager, Project Delivery Winton Land Limited announced that Duncan Elley has been appointed to Winton's Senior Leadership Team as General Manager, Project Delivery, effective 12 May 2023. Mr. Elley has been with Winton since 2014 and most recently has held the role of Head of Land Development. Major Estimate Revision • Mar 04
Consensus revenue estimates fall by 27% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NZ$346.2m to NZ$251.7m. EPS estimate fell from NZ$0.336 to NZ$0.263 per share. Net income forecast to grow 15% next year vs 20% growth forecast for Real Estate industry in New Zealand. Consensus price target down from NZ$3.05 to NZ$2.85. Share price was steady at NZ$1.96 over the past week. Reported Earnings • Feb 22
First half 2023 earnings released: EPS: NZ$0.12 (vs NZ$0.006 in 1H 2022) First half 2023 results: EPS: NZ$0.12 (up from NZ$0.006 in 1H 2022). Revenue: NZ$85.1m (up 92% from 1H 2022). Net income: NZ$34.5m (up NZ$33.1m from 1H 2022). Profit margin: 41% (up from 3.0% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Real Estate industry in Oceania. Price Target Changed • Feb 09
Price target decreased by 9.8% to NZ$3.05 Down from NZ$3.38, the current price target is provided by 1 analyst. New target price is 55% above last closing price of NZ$1.97. Stock is down 41% over the past year. The company is forecast to post earnings per share of NZ$0.34 for next year compared to NZ$0.12 last year. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Non-Independent Director James Kemp was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 25
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: NZ$0.12 (down from NZ$0.22 in FY 2021). Revenue: NZ$159.5m (down 9.9% from FY 2021). Net income: NZ$31.7m (down 31% from FY 2021). Profit margin: 20% (down from 26% in FY 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.7%. Over the next year, revenue is forecast to grow 116%, compared to a 9.6% growth forecast for the Real Estate industry in New Zealand. Announcement • Jul 12
Winton Land Limited to Report Fiscal Year 2022 Results on Aug 24, 2022 Winton Land Limited announced that they will report fiscal year 2022 results Pre-Market on Aug 24, 2022 Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Non-Independent Director James Kemp was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 28
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: NZ$0.006. Revenue: NZ$44.3m (flat on 1H 2021). Net income: NZ$1.34m (up NZ$1.34m from 1H 2021). Profit margin: 3.0% (up from null in 1H 2021). Revenue was in line with analyst estimates. Announcement • Feb 21
Winton Land Limited Announces Board Appointments Winton Land Limited announced the appointment of James Kemp as a director, effective from 21 February 2022. James is appointed to the Board of the company in his capacity as a representative of TC Akarua 2 Pty Limited (as trustee of the TC Akarua Sub Trust), which is a substantial shareholder in Winton. The Board has determined that James is a non-independent director. James is an Executive Director in Macquarie Asset Management (MAM) and is Head of Real Estate, ANZ and Real Estate Investments, Asia-Pacific. He has over 15 years of experience in real estate private equity and investment banking across Asia-Pacific. As part of his role, James has sat on numerous external boards and committees of investee companies. He is currently also a director of Unified Industrial. James has been appointed by the Board of Directors, as permitted under Winton's constitution. James will hold office until Winton's 2022 Annual Meeting, at which time he will retire and offer himself for election by the shareholders. Jelte Bakker has been appointed as an alternate Director to James. Jelte is an Executive Director in MAM and is Global head of Opportunistic Real Estate and Head of Real Estate Asia-Pacific. Announcement • Feb 17
Winton Land Limited to Report First Half, 2022 Results on Feb 24, 2022 Winton Land Limited announced that they will report first half, 2022 results on Feb 24, 2022 Announcement • Dec 17
Winton Land Limited has completed an IPO in the amount of NZD 349.83 million. Winton Land Limited has completed an IPO in the amount of NZD 349.83 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 90,000,000
Price\Range: NZD 3.887