Thursday 14th April 2016 |
Text too small? |
Augusta Capital, the listed property investor and fund manager, will post a revaluation gain of $3.7 million for the six months through March.
The revaluation gain for property owned directly by Augusta represents a 4.4 percent increase, the Auckland-based company said in a statement. The increase in valuation combined with static rentals has seen the company's average rental yield decline to 7.06 percent from 7.34 percent.
On an annual basis, the company's properties have increased by $7.5 million, its portfolio occupancy has risen to 97 percent from 94 percent and its average lease term increased to 6.3 years from 5.9 years, it said. Augusta will release its annual earnings for the year through March on May 19.
Its shares increased 1.4 percent to $1.06, and have increased 4.5 percent this year.
BusinessDesk.co.nz
No comments yet
Spark New Zealand appoints new director to the Spark Board
AFT to announce full year results on May 23 2024
CRP - Korella North Takes Another Two Steps Forward
May 3rd Morning Report
ASB workers to strike as bank proposes an effective pay cut
Rising tides, sinking stocks: study explores cost of climate change
May 2nd Morning Report
AGL - Change in Senior Management
Devon Funds Morning Note - 01 May 2024
Rick Christie to step-aside as a non-executive director