Precinct Properties NZ Ltd & Precinct Properties Investments Ltd (NZSE:PCT)

Full Year 2026 Precinct Properties New Zealand Ltd Earnings Call Transcript

Aug 26, 2026 / 10:00 PM GMT

Release Date Price: NZ$1.05 (+0.48%)

Transcript

Key Points

Positve

Record leasing activity with close to 40,000 square meters completed, an all-time high for the business, and solid leasing spreads.
Investment portfolio maintained high occupancy at 97% and increased weighted average lease term to over 7 years.
Completed over half a billion in developments, including 55 Molesworth Street and two build-to-sell residential projects for capital partners.
Capital partnering strategy advanced significantly, with office platforms growing by around $800 million and total partnerships reaching $2.2 billion.
Strong balance sheet position with pro forma gearing reduced to 29% and diversified funding sources, providing capacity for future opportunities.

Negative

NTA per share declined from $1.18 to $1.13, largely due to valuation declines in development assets, particularly downtown.
Auckland office FFO growth was modest at 0.8% due to lower physical occupancy from leasing timing, despite rental growth.
Wellington office market remains subdued, with softer net rents and higher rates impacting valuations and rental growth.
Total comprehensive income was a loss of $12.6 million, reflecting continued valuation declines in the second half.
Dividend guidance remains flat at $6.75 per share, with FFO expected to be below the dividend in FY27, indicating limited near-term earnings growth.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PCT.NZ - Precinct Properties New Zealand Ltd
Full Year 2026 Precinct Properties New Zealand Ltd Earnings Call
Aug 26, 2026 / 10:00PM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Thank you for standing by and welcome to the precinct Properties 2026 full year results.

All participants are in a listen-only mode.

There will be a presentation followed by a question-and-answer session.

If you wish to ask a question, you'll need to press the star key, followed by the number one on your telephone keypad.

I would now like to hand the conference over to Mr. Scott Pritchard, Chief Executive Officer.

Please go ahead.

Thank you, Drew, and good morning everyone, and welcome to the 2026 annual result briefing for precinct.

I'm joined today by George Crawford, precinct's deputy CEO Richard Holder, precinct's Chief

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.