How does PCT's PS Ratio compare to its peers?

PCT is good value based on its Price-To-Sales Ratio (7.8x) compared to the peer average (9x).

How does PCT's PS Ratio compare vs other companies in the Global Office REITs Industry?

PCT is expensive based on its Price-To-Sales Ratio (7.8x) compared to the Global Office REITs industry average (4.9x).

What is PCT's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PCT is good value based on its Price-To-Sales Ratio (7.8x) compared to the estimated Fair Price-To-Sales Ratio (8.3x).

What is the Fair Price of PCT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

PCT (NZ$1.24) is trading below our estimate of [[fair value]] (NZ$1.54)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Target price is less than 20% higher than the current share price.

Precinct Properties NZ & Precinct Properties Investments (NZSE:PCT) - Stock Price, News & Analysis

PCT Stock Overview

Precinct is New Zealand’s only listed city centre specialist investing predominantly in premium and Agrade commercial office property. More details

PCT fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	3/6
Past Performance	0/6
Financial Health	1/6
Dividends	3/6

Rewards

Trading at 19.8% below our estimate of its fair value

Earnings are forecast to grow 31.95% per year

Risk Analysis

Debt is not well covered by operating cash flow

Dividend of 4.85% is not well covered by free cash flows

Precinct Properties NZ Ltd & Precinct Properties Investments Ltd Competitors

Kiwi Property Group

NZSE:KPG

NZ$1.5b

Vital Healthcare Property Trust

NZSE:VHP

NZ$1.3b

Goodman Property Trust

NZSE:GMT

NZ$3.2b

Property For Industry

NZSE:PFI

NZ$1.1b

Price History & Performance

Summary of all time highs, changes and price drops for Precinct Properties NZ & Precinct Properties Investments
Historical stock prices
Current Share Price	NZ$1.24
52 Week High	NZ$1.37
52 Week Low	NZ$1.09
Beta	0.32
11 Month Change	-2.76%
3 Month Change	-6.44%
1 Year Change	5.56%
33 Year Change	-21.34%
5 Year Change	-31.77%
Change since IPO	24.75%

Recent updates

We Think Shareholders Are Less Likely To Approve A Large Pay Rise For Precinct Properties New Zealand Limited's (NZSE:PCT) CEO For Now

Oct 28

A Quick Analysis On Precinct Properties New Zealand's (NZSE:PCT) CEO Salary

Mar 02

How Much Are Precinct Properties New Zealand Limited (NZSE:PCT) Insiders Taking Off The Table?

Feb 09

Precinct Properties New Zealand (NZSE:PCT) Has Compensated Shareholders With A Respectable 69% Return On Their Investment

Jan 18

What You Need To Know About Precinct Properties New Zealand Limited's (NZSE:PCT) Investor Composition

Dec 28

Are Precinct Properties New Zealand Limited's (NZSE:PCT) Mixed Financials The Reason For Its Gloomy Performance on The Stock Market?

Dec 07

Shareholder Returns

	PCT	NZ Office REITs	NZ Market
7D	-1.2%	-2.1%	0.1%
1Y	5.6%	1.4%	9.6%

Return vs Industry: PCT exceeded the NZ Office REITs industry which returned 1.4% over the past year.

Return vs Market: PCT underperformed the NZ Market which returned 9.6% over the past year.

Price Volatility

Is PCT's price volatile compared to industry and market?
PCT volatility
PCT Average Weekly Movement	3.0%
Office REITs Industry Average Movement	3.1%
Market Average Movement	4.5%
10% most volatile stocks in NZ Market	9.3%
10% least volatile stocks in NZ Market	3.0%

Stable Share Price: PCT has not had significant price volatility in the past 3 months compared to the NZ market.

Volatility Over Time: PCT's weekly volatility (3%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1997	n/a	Scott Pritchard	www.precinct.co.nz

Precinct is New Zealand’s only listed city centre specialist investing predominantly in premium and Agrade commercial office property. Listed on the NZX Main Board, PCT currently owns Auckland’s HSBC Tower, AON Centre, Jarden House, Deloitte Centre, 204 Quay Street, Mason Bros. Building, 12 Madden Street, 10 Madden Street, PwC Tower and Commercial Bay Retail; and Wellington’s AON Centre, NTT Tower, Central on Midland Park, No. 1 and No. 3 The Terrace, Mayfair House, Charles Fergusson Building, Defence House, Bowen House, Freyberg Building and 30 Waring Taylor Street.

Precinct Properties NZ Ltd & Precinct Properties Investments Ltd Fundamentals Summary

How do Precinct Properties NZ & Precinct Properties Investments's earnings and revenue compare to its market cap?
PCT fundamental statistics
Market cap	NZ$1.95b
Earnings (TTM)	-NZ$22.10m
Revenue (TTM)	NZ$251.00m

7.8x

P/S Ratio

-88.7x

P/E Ratio

Is PCT overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
PCT income statement (TTM)
Revenue	NZ$251.00m
Cost of Revenue	NZ$91.80m
Gross Profit	NZ$159.20m
Other Expenses	NZ$181.30m
Earnings	-NZ$22.10m

Last Reported Earnings

Jun 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	-0.014
Gross Margin	63.43%
Net Profit Margin	-8.80%
Debt/Equity Ratio	66.4%

How did PCT perform over the long term?

See historical performance and comparison

Dividends

4.9%

Current Dividend Yield

93%

Payout Ratio

Does PCT pay a reliable dividends?

See PCT dividend history and benchmarks

When do you need to buy PCT by to receive an upcoming dividend?
Precinct Properties NZ & Precinct Properties Investments dividend dates
Ex Dividend Date	Nov 28 2024
Dividend Pay Date	Dec 13 2024
Days until Ex dividend	6 days
Days until Dividend pay date	21 days

Does PCT pay a reliable dividends?

See PCT dividend history and benchmarks

PCT Stock Overview

Rewards

Risk Analysis

Precinct Properties NZ Ltd & Precinct Properties Investments Ltd Competitors

NZSE:KPG

NZ$1.5b

NZSE:VHP

NZ$1.3b

NZSE:GMT

NZ$3.2b

NZSE:PFI

NZ$1.1b

Price History & Performance

Recent News & Updates

Fourth quarter dividend of NZ$0.017 announced

Now 20% undervalued after recent price drop

Now 21% undervalued

Precinct Properties NZ Ltd & Precinct Properties Investments Ltd, Annual General Meeting, Nov 15, 2024

Now 20% undervalued

Now 20% undervalued

Recent updates

Fourth quarter dividend of NZ$0.017 announced

Now 20% undervalued after recent price drop

Now 21% undervalued

Precinct Properties NZ Ltd & Precinct Properties Investments Ltd, Annual General Meeting, Nov 15, 2024

Now 20% undervalued

Now 20% undervalued

Precinct Properties Group Announces Directorate Appointments

Fourth quarter dividend of NZ$0.017 announced

Now 20% undervalued

Full year 2024 earnings released: NZ$0.014 loss per share (vs NZ$0.097 loss in FY 2023)

Now 20% undervalued

Precinct Properties NZ Ltd & Precinct Properties Investments Ltd to Report Fiscal Year 2024 Results on Aug 28, 2024

Now 19% undervalued after recent price drop

Now 20% undervalued after recent price drop

Now 20% undervalued after recent price drop

Dividend of NZ$0.017 announced

Consensus EPS estimates fall by 56%

Upcoming dividend of NZ$0.017 per share

First half 2024 earnings released: FFO per share: NZ$0.04 (vs NZ$0.037 in 1H 2023)

Dividend of NZ$0.017 announced

Precinct Properties NZ Ltd & Precinct Properties Investments Ltd to Report First Half, 2024 Results on Feb 22, 2024

Upcoming dividend of NZ$0.017 per share at 5.7% yield

Now 21% undervalued after recent price drop

Alana Barron to Join Precinct as Future Director, Effective 13 November 2023

Precinct Properties Group Announces Appointment of Chris Meads as Independent Director, Effective October 1, 2023

Precinct Properties NZ Ltd & Precinct Properties Investments Ltd, Annual General Meeting, Nov 14, 2023

Upcoming dividend of NZ$0.017 per share at 5.4% yield

Precinct Properties New Zealand Limited Announces Dividend for the Fourth-Quarter, Payable on 22 September 2023 and Provides Dividend Guidance for the Year 2024

Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Consensus EPS estimates fall from profit to NZ$0.04 loss, revenue upgraded

Precinct Properties NZ Ltd & Precinct Properties Investments Ltd to Report Fiscal Year 2023 Results on Aug 23, 2023

Consensus EPS estimates fall by 89%

Upcoming dividend of NZ$0.017 per share at 5.1% yield

First half 2023 earnings released: NZ$0.001 loss per share (vs NZ$0.028 profit in 1H 2022)

Precinct Properties New Zealand Limited to Report First Half, 2023 Results on Feb 23, 2023

Precinct Properties New Zealand Limited and PAG agreed to acquire 40 and 44 Bowen Street in Wellington for NZD 240 million.

Upcoming dividend of NZ$0.017 per share

Price target decreased to NZ$1.34

Now 23% undervalued after recent price drop

Upcoming dividend of NZ$0.017 per share

Precinct Properties New Zealand Limited, Annual General Meeting, Nov 03, 2022

Now 20% undervalued

Consensus EPS estimates fall by 29%

Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Now 20% undervalued after recent price drop

Precinct Properties New Zealand Limited to Report Fiscal Year 2022 Results on Aug 18, 2022

Now 22% undervalued after recent price drop

Now 22% undervalued after recent price drop

GIC Pte. Ltd. agreed to acquire 75.1% of an initial portfolio of fully-developed property assets from Precinct Properties New Zealand Limited (NZSE:PCT).

Consensus EPS estimates fall by 13%

First half 2022 earnings: EPS and revenues exceed analyst expectations

Precinct Announces Second-Quarter Dividend, Payable on 25 March 2022

Upcoming dividend of NZ$0.017 per share

We Think Shareholders Are Less Likely To Approve A Large Pay Rise For Precinct Properties New Zealand Limited's (NZSE:PCT) CEO For Now

Upcoming dividend of NZ$0.016 per share

Insider recently sold NZ$761k worth of stock

Full year 2021 earnings released: EPS NZ$0.14 (vs NZ$0.023 in FY 2020)

Consensus forecasts updated

Independent Director Launa Inman has left the company