New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Stride (SPG) reported a strong 1H24, boosted by one-offs.</li><li>FY24 dividend guidance was unchanged, but we forecast a -9% decline in FY25 driven by a triple headwind of higher tax payable, lower management fee income, and reduced distributions received from co-investments.</li><li>We remain positive on the longer-term potential for SPG's transition to a capital light asset manager, albeit the near term remains challenging. </li></ul>

Stride (SPG) reported a strong 1H24, boosted by one-offs.FY24 dividend guidance was unchanged, but we forecast a -9% decline in FY25 driven by a triple headwind of higher tax payable, lower management fee income, and reduced distributions received from co-investments.We remain positive on the longer-term potential for SPG's transition to a capital light asset manager, albeit the near term remains challenging. 

Stride Property - 1H24 Result — Leg-Up From One-Offs External Inbox Updates