New Zealand's Precinct Properties posts FY26 comprehensive loss on property revaluations

Precinct Properties New Zealand

26/08/2026 21:45

Overview
New Zealand premium real estate owner's FY26 FFO rose slightly after one-off adjustments
Company reported a comprehensive loss after tax for FY26 due to negative property revaluations
Portfolio occupancy stayed high at 97% as leasing volumes hit a record

Outlook
Precinct expects FY27 combined cash dividend of 6.75 cents per stapled security
Company says economic outlook remains uncertain but sees strength in Auckland premium office market
Precinct identifies Downtown Car Park redevelopment as primary focus for FY27

Result Drivers
LEASING ACTIVITY - Record leasing volumes and new office leases at higher rents supported operational performance
RENT REVIEWS - Rent reviews across 60% of the portfolio delivered average rent uplifts, contributing to income growth
PORTFOLIO REVALUATION LOSSES - Negative fair value movements, mainly in development properties and inventories, drove the net loss

Company press release: ID:nNZS8bfa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
FY Total Comprehensive Loss After Tax
 
NZ$12.60 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "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 Precinct Properties New Zealand Ltd is NZ$1.25, about 19.6% above its August 26 closing price of NZ$1.05
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 15 three months ago

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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.)