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From: | "Cristine Kerr" <criskerr@optusnet.com.au> |
Date: | Sun, 5 Oct 2003 08:24:03 +1000 |
Hi Morgy,
Thanks for the chart. Had to go back to IPG to
refresh my memory but briefly ...
Investa Property Group (IPG)
Property Trust
Bought parcel 28/8/03 @ $1.95
Topped up parcel 16/9/03 @ $1.94
Why? Initially
picked up on radar from ASX releases:
1) Price to
earnings: IPG paid 15.6 cents last financial year in quarterly
dividends - indicative of very healthy cash position and commitment to
shareholder return (including their enhancement to franking)
2) IPG (assets $4.3bn) own, develop and manage
($5bn under management) primarily commercial property. Buoyant property market
has resulted in increased asset values and increased commercial rents
(which won't go down if property values go through an adjustment),
higher rents = higher management fees
3) Present: Low vacancy, average lease 4.3
years
4) 4/9/03 Directors bought in. ASX announcement re
Change of Directors Interest x 4 - all 4 were acquisitions including on-market
purchases and distribution reinvestment (or in other words, they were prepared
pay present market price with their own money to gain additional
shares - not an option in sight). Good indicator of Director
confidence in the company. 5) Most recent quarterly dividend, 4.05 cents
(franked) and payable later this month which could spur some
share price momentum as happened with May and
June dividends (hence my interest in chart) Future
For me. this stock represents excellent growth
potential with consistent dividend returns (based
on information available at this point in time). I've bought in for
the longer term and will manage risk factors by tracking news items,
eg; looking for signals of commercial property oversupply.
Regards,
Cris
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