New Zealand Rural Land posts HY net profit NZ$4.7 mln

New Zealand Rural Land

26/08/2026 21:45

Overview
New Zealand rural land lessor reported HY26 net profit of NZ$4.7 mln
AFFO for HY26 was NZ$3.6 mln; FY26 guidance remains suspended due to Kiwi Crunch uncertainty
Company settled purchase of 79-hectare horticultural property after HY26 period end

Outlook
Company's FY26 earnings guidance remains suspended amid Kiwi Crunch uncertainty
Company targets annual dividend distributions of 90-100% of AFFO, paid quarterly
NZL expects inflation-linked rental increases to drive rental growth

Result Drivers
CPI-LINKED RENTAL INCREASES - Co said CPI-linked rental increases of +17.3% on 7.3% of pastoral properties and +3.1% on 30.3% of portfolio drove higher lease income
TENANT ADMINISTRATION - Co said Kiwi Crunch Farms entering administration and receivership has created uncertainty around recovery of rent and future lease arrangements
PORTFOLIO EXPANSION - Co completed purchase of additional horticultural property after HY26, adding 79 hectares and new rental income

Company press release: ID:nNZS8vGa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Net Profit After Tax
 
NZ$4.70 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the real estate rental, development & operations peer group is "buy"
Wall Street's median 12-month price target for New Zealand Rural Land Company Ltd is NZ$1.16, about 24.7% above its August 26 closing price of NZ$0.93
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago

Reuters Recommended Reads
Aug 25 - New Zealand's Winton Land FY26 profit more than doubles on higher settlements
Aug 26 - Maritime lessor SFL posts preliminary Q2 profit; declares dividend
Aug 26 - VIB Vermögen H1 rental income falls, guidance confirmed

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)