A Track Record of Strong and Stable Returns
A Track Record of Strong and Stable Returns
Investor Relations
We provide investors with the opportunity to invest in a wide selection of properties in the hard-working industrial sector. While past performance does not guarantee future returns, in the period since PFI’s inception to 30 September 2024, investors have enjoyed an average annual return of around 9.40%.
Why invest with us?
Hard working investment
We put your money to work, aiming to generate steady income for you. Industrial property behaves differently to other types of property, offering the opportunity for reliable returns in all economic conditions.
Scale
The size of our portfolio gives us credibility; allowing us to meet the needs of a large variety of tenants today, while also allowing us to work in partnership with them as their requirements change and grow tomorrow.
Location
Our properties are strategically located close to supply chains, transport links, workforce and customers, meaning they represent significant growth opportunities for us and our tenants.
Diversity
Diversity comes from having multiple properties across a number of industrial sub-sectors. Our diverse portfolio is resilient and well-placed to deal with a wide variety of market conditions.
Expertise
Because we specialise only in industrial property, we know the market, understand industrial tenants’ needs, and can capitalise on trends and opportunities that allow our portfolio to keep delivering for investors.
Sustainability
We’ve got a long-term focus on ensuring that we are doing the right thing by all our stakeholders. Our sustainable approach to developments, refurbishments and building maintenance aligns with changing tenant needs, creating the potential for better long-term value for our investors.
Keeping New Zealand moving
The industrial sector plays a vital role in keeping New Zealand’s economy moving. By investing in the properties where the hard work gets done, you’re supporting New Zealand enterprises to grow and succeed. And that leads to a thriving and prosperous New Zealand economy we all benefit from.
Our Latest Results
Results for the six months ending 30 June 2024:
FP24 result
Profit after tax of $21.2m, up $51.7m on the pcp, incorporating fair value losses on properties of $4.2m, as compared to losses of $55.0m in the pcp, Funds From Operations (FFO) up 2.2% on the pcp to 5.03 cents per share (cps), Adjusted Funds From Operations (AFFO) down 0.9% on the pcp to 4.58 cps, FP24 cash dividends of 4.15 cps, consistent with FY23 dividends on an annualised basis, fully covered by AFFO and strong cash flows from operations.
Portfolio under-renting provides embedded growth
Industrial property portfolio valuation of ~$2.1bn has stabilised and is ~16% under-rented, $36.3m of contract rent reviewed during FP24 delivering an average annualised uplift of 5.7%, $5.9m of contract rent leased during FP24 at an average of 25.3% above previous contract rents.
Green Star development pipeline advanced
Tenant commitment secured for Stage 2 of the redevelopment of 78 Springs Road, balance of 30-32 Bowden Road leased for a term of 12-years, active Green Star projects on track with ~$33m of committed spend remaining, opportunity to deploy ~$350m on Green Star development over the medium-term.
Liquidity profile extended
$600m of facilities refinanced or established since December 2023, ~$300m of facility headroom following post-balance date refinancing, gearing comfortable at 32.9%, interest rate environment forecast to improve.
For more details on the latest results
Our Share Price
We provide investors with the opportunity to invest in a wide selection of properties in the hard-working industrial sector. While past performance does not guarantee future returns, in the period since PFI’s inception to 30 September 2024, investors have enjoyed an average annual return of around 9.40%.
Today’s share price:
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Our events calendar
The following dates are indicative only and may change without notice. PFI makes no representation in relation to future dividend amounts and timing.
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Computershare Investor Services
Level 2, 159 Hurstmere Road
Takapuna
Auckland 0622
Level 2, 159 Hurstmere Road
Takapuna
Auckland 0622
Private Bag 92119
Victoria Street West
Auckland 1142
Victoria Street West
Auckland 1142
Key dividend Information
Our current policy is to distribute the majority of our profits, with the aim of delivering a steady and reliable income stream for investors. In the past, dividends have typically been paid quarterly. However, PFI makes no representation in relation to future dividend amounts and timing.