Stride Property Group (NZSE:SPG) Margins Surge to 33.6%, Challenging Bearish Profitability Narratives

Simply Wall St.

11/27

Stride Property Group (NZSE:SPG) has just reported H1 2026 results, with revenue coming in at NZ$136.2 million and basic EPS at NZ$0.081952 for the trailing twelve months. Historically, the company ...

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Historically, the company ...</p>\n\n<a href=\"https://simplywall.st/stocks/nz/real-estate/nzx-spg/stride-property-group-shares/news/stride-property-group-nzsespg-margins-surge-to-336-challengi\">網頁鏈接</a>\n\n</div>\n","source":"simplywall_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stride Property Group (NZSE:SPG) Margins Surge to 33.6%, Challenging Bearish Profitability Narratives</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStride Property Group (NZSE:SPG) Margins Surge to 33.6%, Challenging Bearish Profitability Narratives\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Simply Wall St.</strong><span class=\"h-time small\">2025-11-27 15:21</span>\n</p>\n</h4>\n</header>\n<article>\n<div>\n<p>Stride Property Group (NZSE:SPG) has just reported H1 2026 results, with revenue coming in at NZ$136.2 million and basic EPS at NZ$0.081952 for the trailing twelve months. Historically, the company ...</p>\n\n<a href=\"https://simplywall.st/stocks/nz/real-estate/nzx-spg/stride-property-group-shares/news/stride-property-group-nzsespg-margins-surge-to-336-challengi\">網頁鏈接</a>\n\n</div>\n\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://simplywall.st/stocks/nz/real-estate/nzx-spg/stride-property-group-shares/news/stride-property-group-nzsespg-margins-surge-to-336-challengi\">Simply Wall St.</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4080","symbol_name":"零售業房地產投資信託","start_time":0,"source_url":"https://simplywall.st/stocks/nz/real-estate/nzx-spg/stride-property-group-shares/news/stride-property-group-nzsespg-margins-surge-to-336-challengi","article_id":"2586736248","we_media_id":null,"thumbnails":["https://images.simplywall.st/asset/industry/9551731-choice2-main-header/1585186650529"],"rights":{"source":"simplywall_highlight","url":"https://simplywall.st/stocks/nz/real-estate/nzx-spg/stride-property-group-shares/news/stride-property-group-nzsespg-margins-surge-to-336-challengi","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2586736248","pubTimestamp":1764228103,"columns":[],"sourceInfo":{"source_id":"simplywall_highlight","name":"Simply Wall St."},"weMediaInfo":null,"summary":"Stride Property Group (NZSE:SPG) has just reported H1 2026 results, with revenue coming in at NZ$136.2 million and basic EPS at NZ$0.081952 for the trailing twelve months. Historically, the company saw revenue rise from NZ$53.4 million in H2 2024 to NZ$76.1 million in H2 2025. EPS moved from -NZ$0.010129 to NZ$0.005711 over that span. Margins held steady, giving investors a clear snapshot into the REIT's operational results.\nSee our full analysis for Stride Property Group.\nNow it’s time to...","collect":0,"end_time":0,"defaultTopTitle":"simplywall.st","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4080":"零售业房地产投资信托","8C8U.SI":"Cent Accom REIT","BK4585":"ETF&股票定投概念","BK8039":"多样化房地产投资信托v","SPG.NZ":"Stride Prop & Stride Invest Mgmt Ltd Stapled Security (NS)","BK4231":"零售房地产信托","SPG":"西蒙地产","BK4588":"碎股","CFA.SI":"NikkoAM-STC Asia REIT"},"translate_title":"Stride Property Group(NZSE：SPG)利润率飙升至33.6%，挑战看跌的盈利能力叙述","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CFA.SI":1.5,"8C8U.SI":0.6,"SPG":1.5,"SPG.NZ":1.5},"content_text":"Stride Property Group (NZSE:SPG) has just reported H1 2026 results, with revenue coming in at NZ$136.2 million and basic EPS at NZ$0.081952 for the trailing twelve months. Historically, the company saw revenue rise from NZ$53.4 million in H2 2024 to NZ$76.1 million in H2 2025. EPS moved from -NZ$0.010129 to NZ$0.005711 over that span. Margins held steady, giving investors a clear snapshot into the REIT's operational results. See our full analysis for Stride Property Group. Now it’s time to see how those numbers compare to the prevailing narratives about Stride Property Group. Let’s dive in to find out what gets confirmed and where surprise shifts are emerging. Curious how numbers become stories that shape markets? Explore Community Narratives NZSE:SPG Earnings & Revenue History as at Nov 2025 AdvertisementMargins Surge to 33.6% Despite One-Off Loss  Net profit margins climbed to 33.6% for the last twelve months, up from 11.1% a year prior, even as the period included a single large loss item of NZ$21.8 million. The latest analysis points out that higher margins strongly support the thesis that operational efficiencies are powering bottom-line performance. However, the sizeable one-off expense raises questions about how sustainable this margin level will be over the medium term.\n     Consensus narrative notes investors may need to weigh the margin expansion against the irregular nature of the loss, as ongoing volatility could impact future confidence. With annual net income at NZ$45.81 million, the improvement stands out versus multi-year declines, but future periods could look different if nonrecurring items remain a factor.    To see how bulls, bears, and consensus weigh these new highs and risks, read the full consensus narrative. 📊 Read the full Stride Property Group Consensus Narrative. Trading at 21.6% Discount to DCF Fair Value  Stride Property Group’s current share price of NZ$1.41 trades 21.6% below its DCF fair value estimate of NZ$1.79, with a price-to-earnings ratio of 17.2x compared to a peer average of 26.3x. Consensus analysis suggests this pricing gap leans in favor of value-driven investors, spotlighting a clear discount that could offer upside if earnings momentum holds.\n     However, at 17.2x, the P/E remains modestly higher than the typical global REIT industry. This means investors are paying a slight premium to global comparables despite the discount to local peers. This presents a nuanced tradeoff. Near-term results reward value seekers, but future outperformance requires more than just a cheap headline multiple.    Growth Outlook Trails New Zealand Market  Stride Property Group’s forecast annual earnings growth of 8.7% lags behind the 16.7% average expected for the broader New Zealand market, while revenue is projected to decline by 9.1% annually over the next three years. Bears highlight that this muted top-line trajectory undercuts the case for sustained outperformance, even as recent EPS and margin figures impress.\n     The sharp contrast between strong recent net profit (NZ$45.81 million) and ongoing revenue shrinkage raises caution that current profitability may not fully cushion against future headwinds. Bears argue that even with defensive positioning as a diversified REIT, Stride faces tough macroeconomic headwinds restricting rental income and asset growth.     Next Steps Don't just look at this quarter; the real story is in the long-term trend. We've done an in-depth analysis on Stride Property Group's growth and its valuation to see if today's price is a bargain. Add the company to your watchlist or portfolio now so you don't miss the next big move. See What Else Is Out There Stride Property Group’s shrinking revenue outlook and below-market growth projections point to ongoing challenges for investors who are seeking consistent expansion. If you want more reliable growth, check out stable growth stocks screener (2073 results) to discover companies that consistently deliver steady gains regardless of the market cycle.  This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.New: Manage All Your Stock Portfolios in One PlaceWe've created the ultimate portfolio companion for stock investors, and it's free.• Connect an unlimited number of Portfolios and see your total in one currency• Be alerted to new Warning Signs or Risks via email or mobile• Track the Fair Value of your stocksTry a Demo Portfolio for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}