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Highlights

  • IPL’s portfolio valuation reached NZD 1.0 billion in FY25, with an NZD 12.2 million net gain in fair value.
  • IPL declared a FY25 dividend of 6.50 cps, including imputed and supplementary dividends.
  • IPL acquired Bunnings New Lynn in Auckland for NZD 43 million under an unconditional agreement.

Investore Property Limited (NZX:IPL) is a New Zealand-based real estate investment company focused on large-format retail properties across the country.

In the financial year 2025 (FY25), the company’s gross rental income increased by 4.5% YoY to NZD 76.1 million, up from NZD 72.8 million in FY24. The company’s total comprehensive income after tax attributable to shareholders rose to NZD 37.5 million, compared to a loss of NZD 67.0 million in FY24. Profit before other income and income tax reached NZD 35.2 million in FY25, slightly up from NZD 35.1 million, while profit after tax reached NZD 38.4 million, an increase of NZD 105.5 million from FY24. For the period ended 31 March 2025, the company’s portfolio was valued at NZD 1.0 billion, reflecting a net gain in fair value of NZD 12.2 million.

For FY25, IPL declared a total cash dividend of 6.50 cps, including imputation credits of 0.457615 cps and a supplementary dividend of 0.207657 cps for non-resident shareholders.

Business update

On 27 June 2025, IPL announced that it had inked an unconditional agreement to acquire Bunnings New Lynn in Auckland for NZD 43 million.

The company divested three supermarket properties for NZD 79.3 million, with combined sale prices exceeding book value as of 31 March 2024. Additionally, 59 rent reviews across 94,000 sqm resulted in a 4.2% increase over prior rental rates.

Top 10 Shareholders of IPL

The top 10 shareholders of IPL have approximately 45.04% shareholding in the company, with Stride Property Limited and Forsyth Barr Investment Management Limited accounting for the largest portions at around 18.83% and 9.07%, respectively.

 Stock Information

IPL’s shares closed at NZD 1.18 per share on 14 July 2025 with a market cap of NZD 445.5 million. The stock price has increased by approximately 1.72% over the past month and 2.60% over the last six months. Over the past year, IPL’s share price has increased by nearly 15.69%. The 52-week high of IPL is NZD 1.29, recorded on 20 August 2024 and 52-week low is NZD 1, recorded on 23 April 2025.

Support and Resistance Summary

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels Is 14 July 2025. The reference data in this report has been partly sourced from EODHD/Others.

 

Technical Indicators Defined

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.