Added to YB: 2024-12-13
Pitch date: 2024-12-13
APL.NZ [bullish]
Asset Plus Limited
+8.14%
current return
Author Info
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Company Info
NPT Limited operates as a property company. It invests in retail, commercial, and industrial properties located in Auckland, Wellington, Napier, and Christchurch.
Market Cap
NZD 72.5M
Pitch Price
NZD 0.19
Price Target
0.32 (+52%)
Dividend
N/A
EV/EBITDA
40.52
P/E
41.55
EV/Sales
17.30
Sector
Diversified REITs
Category
special_situation
Asset Plus Limited - $APL.NZ
APL.NZ: Single-asset REIT liquidation play. 30-60% upside. Debt-free. Munroe Lane office 65% occupied, 8.9yr Auckland Council lease. Valued $116m, 6.5% yield. If unleased, 8% cap rate. NTA $0.262-$0.32, trading $0.20. $0.01 annual cashflow. Chairman: lease focus, then sell & wind up.
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