Declared Dividend • May 23
Fourth quarter dividend of NZ$0.018 announced Shareholders will receive a dividend of NZ$0.018. Ex-date: 28th May 2026 Payment date: 10th June 2026 Dividend yield will be 7.0%, which is higher than the industry average of 5.6%. Reported Earnings • May 22
Full year 2026 earnings: EPS in line with expectations, revenues disappoint Full year 2026 results: EPS: NZ$0.084 (down from NZ$0.10 in FY 2025). Revenue: NZ$81.0m (up 6.4% from FY 2025). Net income: NZ$31.7m (down 17% from FY 2025). Profit margin: 39% (down from 50% in FY 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to stay flat during the next 3 years compared to a 2.7% decline forecast for the Retail REITs industry in Oceania. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Apr 21
Investore Property Limited, Annual General Meeting, Jun 30, 2026 Investore Property Limited, Annual General Meeting, Jun 30, 2026. Declared Dividend • Feb 19
Dividend of NZ$0.019 announced Shareholders will receive a dividend of NZ$0.019. Ex-date: 24th February 2026 Payment date: 5th March 2026 Dividend yield will be 6.8%, which is higher than the industry average of 5.6%. Declared Dividend • Nov 24
Dividend of NZ$0.019 announced Shareholders will receive a dividend of NZ$0.019. Ex-date: 25th November 2025 Payment date: 4th December 2025 Dividend yield will be 6.2%, which is higher than the industry average of 5.6%. Declared Dividend • Aug 21
Fourth quarter dividend of NZ$0.019 announced Shareholders will receive a dividend of NZ$0.019. Ex-date: 26th August 2025 Payment date: 4th September 2025 Dividend yield will be 6.3%, which is higher than the industry average of 5.6%. Announcement • Jul 22
Investore Property Limited, Annual General Meeting, Sep 15, 2025 Investore Property Limited, Annual General Meeting, Sep 15, 2025. Announcement • Jul 03
Cook Selling Another Bunnings in $43M Deal with Investore Multi-millionaire property investor Ben Cook of Cook Property Group Limited is selling another Bunnings in Auckland as he fulfils his plan to sell holdings in this country and take more than $100 million to Australia. The $1 billion NZX-listed specialist retail entity Investore Property Limited (NZSE:IPL) told the NZX on Friday it would add another Bunnings to its portfolio via the Bunnings New Lynn store. Cook, managing director and founder of Cook Property, has also sold the Ponsonby Post Office recently for about $7 million. He owns Bunnings New Lynn via New Lynn Retail, registered in 2020. Cook Property says the store is a purpose-built trade retail premises on the corner of Great North Rd and Titirangi Rd, on a 12-year lease. Investore chairman Mike Allen said the 11,000sq m store was in a key metropolitan area, underpinned by a quality tenant. Investore already owns Bunnings Hamilton and Mitre 10 Mega Botany. Asked about the Bunnings New Lynn sale, Cook said: "Not much new news here, just a continuation of my decision to divest out of New Zealand and do something different for the next 50 years." His portfolio once spanned from Auckland to Central Otago, including a string of Countdown supermarkets and Bunnings in Auckland and Hamilton, the Ponsonby Post Office, Farmers on Queen St in the CBD, Northcote's Engine Room restaurant and Britomart's Brew on Quay. Sydney is now his home base and says he doesn't plan on returning to New Zealand. On Friday, Bunnings New Lynn's sale was announced. Allen said an unconditional agreement was struck on the property at 2 to 12 Titirangi Rd, for a purchase price of $43 million. The high-profile 2.2ha corner site is leased for a weighted average of seven years. Investore said the lease had the benefit of a structured rental growth profile, making it an attractive addition to the business. Settlement is due on Friday. Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Non-Executive Director Ross James Buckley was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • May 19
Fourth quarter dividend of NZ$0.018 announced Shareholders will receive a dividend of NZ$0.018. Ex-date: 23rd May 2025 Payment date: 5th June 2025 Dividend yield will be 6.5%, which is higher than the industry average of 5.6%. Reported Earnings • May 17
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: NZ$0.10 (up from NZ$0.18 loss in FY 2024). Revenue: NZ$76.1m (up 4.5% from FY 2024). Net income: NZ$38.4m (up NZ$105.5m from FY 2024). Profit margin: 50% (up from net loss in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 80%. Revenue is expected to fall by 2.3% p.a. on average during the next 3 years compared to a 3.0% decline forecast for the Retail REITs industry in Oceania. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • May 13
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at NZ$1.17. The fair value is estimated to be NZ$0.96, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.03% per annum. Earnings are forecast to grow by 26% per annum over the same time period. Declared Dividend • Feb 20
Dividend of NZ$0.019 announced Shareholders will receive a dividend of NZ$0.019. Ex-date: 25th February 2025 Payment date: 14th March 2025 Dividend yield will be 6.5%, which is higher than the industry average of 5.6%. Declared Dividend • Nov 16
Dividend of NZ$0.019 announced Shareholders will receive a dividend of NZ$0.019. Ex-date: 21st November 2024 Payment date: 10th December 2024 Dividend yield will be 6.6%, which is higher than the industry average of 5.6%. Buy Or Sell Opportunity • Oct 30
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 5.2% to NZ$1.21. The fair value is estimated to be NZ$1.00, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 12% in a year. Earnings are forecast to grow by 70% in the next year. Buy Or Sell Opportunity • Oct 09
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 20% to NZ$1.22. The fair value is estimated to be NZ$1.01, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 12% in a year. Earnings are forecast to grow by 70% in the next year. Buy Or Sell Opportunity • Sep 10
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to NZ$1.24. The fair value is estimated to be NZ$1.02, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 12% in a year. Earnings are forecast to grow by 70% in the next year. Declared Dividend • Aug 22
Fourth quarter dividend of NZ$0.018 announced Shareholders will receive a dividend of NZ$0.018. Ex-date: 27th August 2024 Payment date: 5th September 2024 Dividend yield will be 6.1%, which is higher than the industry average of 5.6%. Buy Or Sell Opportunity • Aug 14
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to NZ$1.23. The fair value is estimated to be NZ$1.02, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 13% in a year. Earnings are forecast to grow by 70% in the next year. Buy Or Sell Opportunity • Jul 02
Now 23% overvalued Over the last 90 days, the stock has fallen 11% to NZ$1.03. The fair value is estimated to be NZ$0.84, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 13% in a year. Earnings are forecast to grow by 70% in the next year. Buy Or Sell Opportunity • Jun 19
Now 20% overvalued Over the last 90 days, the stock has fallen 9.0% to NZ$1.01. The fair value is estimated to be NZ$0.84, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 13% in a year. Earnings are forecast to grow by 70% in the next year. Buy Or Sell Opportunity • Jun 10
Now 20% overvalued Over the last 90 days, the stock has fallen 5.5% to NZ$1.04. The fair value is estimated to be NZ$0.87, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 13% in a year. Earnings are forecast to grow by 70% in the next year. Buy Or Sell Opportunity • May 26
Now 20% overvalued Over the last 90 days, the stock has fallen 7.1% to NZ$1.04. The fair value is estimated to be NZ$0.86, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 13% in a year. Earnings are forecast to grow by 70% in the next year. Declared Dividend • May 20
Fourth quarter dividend of NZ$0.018 announced Shareholders will receive a dividend of NZ$0.018. Ex-date: 24th May 2024 Payment date: 6th June 2024 Dividend yield will be 7.5%, which is higher than the industry average of 5.6%. Reported Earnings • May 18
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: NZ$0.18 loss per share (improved from NZ$0.41 loss in FY 2023). Revenue: NZ$72.8m (up 2.6% from FY 2023). Net loss: NZ$67.1m (loss narrowed 55% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 44%. Revenue is expected to decline by 1.0% p.a. on average during the next 3 years, while revenues in the Retail REITs industry in Oceania are expected to grow by 1.2%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Declared Dividend • Feb 23
Dividend of NZ$0.018 announced Shareholders will receive a dividend of NZ$0.018. Ex-date: 28th February 2024 Payment date: 18th March 2024 Dividend yield will be 7.3%, which is higher than the industry average of 5.6%. Buy Or Sell Opportunity • Jan 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.4% to NZ$1.13. The fair value is estimated to be NZ$1.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 14% in a year. Earnings are forecast to grow by 84% in the next year. Major Estimate Revision • Nov 23
Consensus EPS estimates fall by 140% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -NZ$0.135 to -NZ$0.323 per share. Revenue forecast unchanged at NZ$61.4m. Retail REITs industry in New Zealand expected to see average net income growth of 201% next year. Consensus price target down from NZ$1.36 to NZ$1.25. Share price fell 4.5% to NZ$1.07 over the past week. Price Target Changed • Nov 22
Price target decreased by 8.3% to NZ$1.25 Down from NZ$1.36, the current price target is an average from 3 analysts. New target price is 14% above last closing price of NZ$1.10. Stock is down 28% over the past year. The company is forecast to post a net loss per share of NZ$0.32 next year compared to a net loss per share of NZ$0.41 last year. Reported Earnings • Nov 19
First half 2024 earnings released: NZ$0.18 loss per share (vs NZ$0.075 loss in 1H 2023) First half 2024 results: NZ$0.18 loss per share (further deteriorated from NZ$0.075 loss in 1H 2023). Revenue: NZ$36.3m (up 1.5% from 1H 2023). Net loss: NZ$66.5m (loss widened 140% from 1H 2023). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Retail REITs industry in Oceania. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Buying Opportunity • Oct 11
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be NZ$1.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.4% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 13% in a year. Earnings is forecast to grow by 69% in the next year. Price Target Changed • Sep 08
Price target decreased by 8.5% to NZ$1.39 Down from NZ$1.52, the current price target is an average from 3 analysts. New target price is 11% above last closing price of NZ$1.26. Stock is down 23% over the past year. The company is forecast to post a net loss per share of NZ$0.13 next year compared to a net loss per share of NZ$0.41 last year. Announcement • May 26
Investore Property Limited, Annual General Meeting, Jun 28, 2023 Investore Property Limited, Annual General Meeting, Jun 28, 2023, at 10:30 NZST - New Zealand Standard. Location: Rangitoto Room, Mövenpick Hotel, 8 Customs Street East, Auckland, New Zealand Auckland New Zealand Agenda: To consider that the Directors be authorized to fix the remuneration of PwC as auditor of Investore Property Limited for the ensuing year; to that Adrian Walker be re-elected as a Director of Investore Property Limited; to that, in accordance with Listing Rule 2.11.1, the amount payable to any person who from time to time holds office as a Director of Investore Property Limited be increased as set out in Table 1 contained in the Explanatory Notes to the Notice of Meeting dated 26 May 2023, with effect from 1 July 2023; and to consider other matters if any. Reported Earnings • May 20
Full year 2023 earnings released: NZ$0.41 loss per share (vs NZ$0.32 profit in FY 2022) Full year 2023 results: NZ$0.41 loss per share (down from NZ$0.32 profit in FY 2022). Revenue: NZ$71.0m (up 4.5% from FY 2022). Net loss: NZ$150.2m (down 227% from profit in FY 2022). Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Retail REITs industry in Oceania. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • May 19
Investore Property Limited Announces Final Dividend for the Year Ended March 31, 2023, Payable on June 6, 2023 Investore Property Limited announced final dividend for the year ended March 31, 2023 of NZD 0.01975000 per share. Record date is May 29, 2023. Dividend payment date is June 6, 2023. Major Estimate Revision • Mar 24
Consensus EPS estimates fall by 211% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -NZ$0.133 to -NZ$0.413 per share. Revenue forecast of NZ$60.9m unchanged since last update. Consensus price target of NZ$1.58 unchanged from last update. Share price fell 6.7% to NZ$1.39 over the past week. Major Estimate Revision • Nov 19
Consensus forecasts updated The consensus outlook for 2023 has been updated. Expected to report loss instead of -NZ$0.13 instead of NZ$0.22 per share profit previously forecast. . Revenue forecast unchanged at NZ$61.1m REITs industry in New Zealand expected to see average net income decline 72% next year. Consensus price target down from NZ$1.64 to NZ$1.58. Share price was steady at NZ$1.52 over the past week. Announcement • Nov 17
Investore Property Limited Declares Cash Dividend for the Period 1 July 2022 to 30 September 2022, Payable on 1 December 2022 Investore Property Limited announced On 16 November 2022, the Parent declared a cash dividend for the period 1 July 2022 to 30 September 2022 of 1.975 cents per share, to be paid on 1 December 2022 to all shareholders on the Parent's register at the close of business on 24 November 2022. Ex-Date (one business day before the Record Date) is November 23, 2022. Reported Earnings • Nov 17
First half 2023 earnings released: NZ$0.075 loss per share (vs NZ$0.15 profit in 1H 2022) First half 2023 results: NZ$0.075 loss per share (down from NZ$0.15 profit in 1H 2022). Revenue: NZ$35.7m (up 8.3% from 1H 2022). Net loss: NZ$27.7m (down 149% from profit in 1H 2022). Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, while revenues in the REITs industry in New Zealand are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Price Target Changed • Jun 29
Price target decreased to NZ$1.69 Down from NZ$1.83, the current price target is an average from 4 analysts. New target price is 7.0% above last closing price of NZ$1.58. Stock is down 22% over the past year. The company is forecast to post earnings per share of NZ$0.22 for next year compared to NZ$0.32 last year. Announcement • May 27
Investore Property Limited, Annual General Meeting, Jun 30, 2022 Investore Property Limited, Annual General Meeting, Jun 30, 2022, at 10:30 NZST - New Zealand Standard. Location: The Boulevard Room, Sofitel Auckland 21 Viaduct Harbour Avenue Auckland Central New Zealand Agenda: To receive and consider the Annual Report and audited financial statements of the company for the year ended31 March 2022;to consider Auditor's Remuneration;to consider re-election of Director Mike Allen;and to consider other matters. Price Target Changed • May 23
Price target decreased to NZ$1.72 Down from NZ$1.90, the current price target is an average from 4 analysts. New target price is 11% above last closing price of NZ$1.56. Stock is down 22% over the past year. The company is forecast to post earnings per share of NZ$0.22 for next year compared to NZ$0.32 last year. Reported Earnings • May 19
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: NZ$0.32 (down from NZ$0.45 in FY 2021). Revenue: NZ$67.9m (up 5.3% from FY 2021). Net income: NZ$118.2m (down 27% from FY 2021). Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 36%. Over the next year, revenue is expected to shrink by 8.7% compared to a 19% decline forecast for the reits industry in New Zealand. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Buying Opportunity • Mar 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.9%. The fair value is estimated to be NZ$2.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.8% per annum over the last 3 years. Earnings per share has grown by 42% per annum over the last 3 years. Buying Opportunity • Feb 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.5%. The fair value is estimated to be NZ$2.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.8% per annum over the last 3 years. Earnings per share has grown by 42% per annum over the last 3 years. Buying Opportunity • Jan 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 1.6%. The fair value is estimated to be NZ$2.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.8% per annum over the last 3 years. Earnings per share has grown by 42% per annum over the last 3 years. Major Estimate Revision • May 25
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from NZ$0.16 to NZ$0.21. Revenue forecast steady at NZ$57.9m. Net income forecast to shrink 51% next year vs 11% decline forecast for REITs industry in New Zealand. Consensus price target down from NZ$2.07 to NZ$1.99. Share price was steady at NZ$2.01 over the past week. Reported Earnings • May 19
Full year 2021 earnings released: EPS NZ$0.45 (vs NZ$0.10 in FY 2020) Full year 2021 results: Revenue: NZ$64.5m (up 19% from FY 2020). Net income: NZ$161.3m (up 464% from FY 2020). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • May 12
Investore Property Limited (NZSE:IPL) entered into an unconditional agreement to acquire Existing supermarket and convenience retail property in Petone for $37.3 million. Investore Property Limited (NZSE:IPL) entered into an unconditional agreement to acquire Existing supermarket and convenience retail property in Petone for $37.3 million on May 10, 2021. Investore Property Limited will fund the acquisition through its available debt facilities. The transaction is expected to complete on May 21, 2021. Major Estimate Revision • Apr 20
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from NZ$0.39 to NZ$0.45. Revenue forecast steady at NZ$54.6m. Net income forecast to grow 2.8% next year vs 4.1% decline forecast for REITs industry in New Zealand. Consensus price target broadly unchanged at NZ$2.09. Share price was steady at NZ$2.13 over the past week. Is New 90 Day High Low • Mar 01
New 90-day low: NZ$2.10 The company is down 5.0% from its price of NZ$2.21 on 01 December 2020. The New Zealander market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NZ$1.08 per share. Major Estimate Revision • Nov 20
Analysts update estimates The 2021 consensus earning per share (EPS) estimate increased from NZ$0.12 to NZ$0.39. Revenue estimate for the same period was approximately flat at NZ$55.3m. Net income is expected to grow by 398% next year compared to 0.7% growth forecast for the REITs industry in New Zealand. The consensus price target increased from NZ$2.05 to NZ$2.09. Share price stayed mostly flat at NZ$2.24 over the past week. Is New 90 Day High Low • Oct 12
New 90-day high: NZ$2.28 The company is up 19% from its price of NZ$1.91 on 14 July 2020. The New Zealander market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NZ$1.65 per share. Announcement • Aug 25
Investore Property Limited (NZSE:IPL) acquired 24 Brighton Mall, Christchurch for NZD 5.8 million. Investore Property Limited (NZSE:IPL) acquired 24 Brighton Mall, Christchurch for NZD 5.8 million on August 23, 2019.
Investore Property Limited (NZSE:IPL) completed the acquisition of 24 Brighton Mall, Christchurch on August 23, 2019. 
