New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

Thematic (Sector/Industry)

<ul><li>Leading into reporting season, listed property stocks have rallied but still slightly underperformed the broader market in July</li><li>Generally positive operating trends</li><li>A drop in bond rates has spurred property sector rally </li></ul>

Leading into reporting season, listed property stocks have rallied but still slightly underperformed the broader market in JulyGenerally positive operating trendsA drop in bond rates has spurred property sector rally 

Real Estate Reflections: A Look Under the Hood (10-Aug-2022)

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Equity Bottom-Up

<ul><li>70% of Senior Directors are confident in data centres, showing faith in their reliability and efficiency despite challenges.</li><li>HPL's acquisition of InterContinental Auckland for $102M marks its entry into the New Zealand market, expanding its portfolio.</li><li>Stuart Grant's appointment as head of Hongkong Land's $8B Shanghai project highlights the company's commitment to growth and development in the region.</li></ul>

70% of Senior Directors are confident in data centres, showing faith in their reliability and efficiency despite challenges.HPL's acquisition of InterContinental Auckland for $102M marks its entry into the New Zealand market, expanding its portfolio.Stuart Grant's appointment as head of Hongkong Land's $8B Shanghai project highlights the company's commitment to growth and development in the region.

Asia Real Estate Tracker (06-Mar-2025): 7/10 Senior Directors Confident in Data Centres, But Talent Shortage Will Widen

Precinct Properties New Zealand / Equity Bottom-Up

<ul><li>We reinstate our rating on PCT at OUTPERFORM with a NZ$1.30/share 12 month target price.</li><li>Following the issuance of its convertible notes, PCT has one of the lowest geared balance sheets in the sector and has capital to invest in opportunities within its growing capital partnerships.</li><li>PCT has c.NZ$1.8bn (built value) of assets under management and believes it has a pathway to &gt;NZ$4.0bn, with the Auckland Downtown Carpark redevelopment a significant driver.</li></ul>

We reinstate our rating on PCT at OUTPERFORM with a NZ$1.30/share 12 month target price.Following the issuance of its convertible notes, PCT has one of the lowest geared balance sheets in the sector and has capital to invest in opportunities within its growing capital partnerships.PCT has c.NZ$1.8bn (built value) of assets under management and believes it has a pathway to &gt;NZ$4.0bn, with the Auckland Downtown Carpark redevelopment a significant driver.

Precinct Properties NZ - Growing the Partnerships

<ul>
<li>Precinct Properties (PCT) is making an offer of up to NZ$150m of subordinated convertible notes (Notes) (plus the ability for PCT to issue an additional NZ$50m at PCT's discretion across the two series of Notes).</li>
<li>The Notes can be converted into ordinary PCT shares after fixed terms of three and four years (subject to a cash election).</li>
<li>The notes will pay a fixed rate of interest above the three and four year swap rates and, if the PCT share price is above the individual Notes strike price at the end of their term, convert (or be cash settled) at a premium to their face value. </li>
</ul>


Precinct Properties (PCT) is making an offer of up to NZ$150m of subordinated convertible notes (Notes) (plus the ability for PCT to issue an additional NZ$50m at PCT's discretion across the two series of Notes).
The Notes can be converted into ordinary PCT shares after fixed terms of three and four years (subject to a cash election).
The notes will pay a fixed rate of interest above the three and four year swap rates and, if the PCT share price is above the individual Notes strike price at the end of their term, convert (or be cash settled) at a premium to their face value. 


Precinct Properties NZ - Offer for up to NZ200m of Convertible Notes

<ul><li>Precinct Properties (PCT) FY23 result was in line with guidance and Visible Alpha consensus expectations.</li><li>Higher rental and management fee income was partly offset by a lift in operating costs and increased interest rates.</li><li>Prime office market rents continue to increase and PCT believes its portfolio is now c.11% under-rented. </li></ul>

Precinct Properties (PCT) FY23 result was in line with guidance and Visible Alpha consensus expectations.Higher rental and management fee income was partly offset by a lift in operating costs and increased interest rates.Prime office market rents continue to increase and PCT believes its portfolio is now c.11% under-rented. 

New Zealand

Precinct Properties New Zealand Ltd. invests in manages and leases commercial office properties. The Company invests in properties in Auckland and Wellington.

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Precinct Properties New Zealand (PCT NZ)

Real Estate Reflections: A Look Under the Hood (10-Aug-2022)

Leading into reporting season, listed property stocks have rallied but still slightly underperformed the broader market in July

Forsyth Barr

Asia Real Estate Tracker (06-Mar-2025): 7/10 Senior Directors Confident in Data Centres, But Talent Shortage Will Widen

Senior Directors optimistic about data centres but concerned about talent shortage, HPL acquires InterContinental Auckland for $102M, Hongkong Land...

Asia Real Estate Tracker

Precinct Properties NZ - Growing the Partnerships

PCT has c.NZ$1.8bn (built value) of assets under management and believes it has a pathway to >NZ$4.0bn, with the Auckland Downtown Carpark...

Forsyth Barr

Precinct Properties NZ - Offer for up to NZ200m of Convertible Notes

The Notes can be converted into ordinary PCT shares after fixed terms of three and four years (subject to a cash election).

Forsyth Barr

Precinct Properties NZ - FY23 Result

Precinct Properties (PCT) FY23 result was in line with guidance and Visible Alpha consensus expectations. Higher rental and management fee income...

Forsyth Barr

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Market Cap (USDm)

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Dividend (Yield)