Stride Property Group's Adjusted Funds from Operations Drop in Fiscal H1

MT Newswires Live11-27

Stride Property Group (NZE:SPG) reported adjusted funds from operations after income tax of NZ$0.0376 per share for the first half of fiscal 2025, down from NZ$0.0545 per share a year earlier, according to a Wednesday filing with the New Zealand bourse.

Analysts polled by Visible Alpha expected NZ$0.04 per share.

Earnings per share were NZ$0.0328, rebounding from a loss of NZ$0.0926 per share a year earlier. Analysts surveyed by Visible Alpha expected NZ$0.04.

Net rental income rose 3.5% to NZ$36 million from NZ$34.8 million. The consensus estimate was NZ$36.5 million, according to Visible Alpha.

Total revenue in the six months ended Sept. 30 declined 4.4% to NZ$45.4 million. The mean estimate based on the Visible Alpha poll was NZ$46.6 million.

A combined cash dividend of NZ$0.02 per share was declared for Stride Property and Stride Investment Management for the September quarter. The boards also reaffirmed full-year cash dividend guidance of NZ$0.08.

The company's shares slipped almost 1% in recent Wednesday trade.

Price (NZD): $1.33, Change: $-0.01, Percent Change: -0.75%

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