Stride Steps Up to Join Forsyth Barr's Outperform List -- Market Talk

Dow Jones
2025/09/04

0048 GMT - Stride Property Gets a new bull in Forsyth Barr after underperforming other New Zealand Reits so far this year. Stride's valuation is up 2% versus a 12% rise by the sector. Analyst Rohan Koreman-Smit acknowledges that Stride sits higher on the risk curve. That's because Stride has some vacancy in its office and retail assets. There is also a risk to fee income from the wind-up of its Diversified NZ Property Trust, while its elevated gearing limits potential to purse near-term opportunities. "However, we view the margin of safety as wide enough at these levels," Forsyth Barr says. The bank notes Stride's share price is around 26% below its net tangible assets. Forsyth Barr upgrades Stride to outperform, from neutral. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

September 03, 2025 20:48 ET (00:48 GMT)

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