Should I buy Argosy Property stock in 2025?

What is Argosy Property?

How much is the Argosy Property stock?

The price of Argosy Property stock is falling this week. Currently, ARG is trading at NZ$1.04, reflecting a 0.95% drop over the last 24 hours and a 3.70% decrease for the week.

The low beta suggests lower volatility compared to the broader NZ market. Despite recent downward pressure, Argosy’s steady dividends and defensive sector may be attractive to income-focused investors.

Our comprehensive analysis of the Argosy Property stock

We have conducted a comprehensive review of Argosy Property's latest financial results and tracked its share price trajectory across the past three years, leveraging an integrated approach that combines technical indicators, fundamental metrics, peer comparisons, and market dynamics—refined by our proprietary analytical algorithms. This blend of quantitative and qualitative insights provides a fresh perspective on Argosy Property's underlying strengths and future trajectory. So, why might Argosy Property stock once again become a strategic entry point into the New Zealand diversified property sector in 2025?

Recent Performance and Market Context

Argosy Property (NZX: ARG), a leading New Zealand REIT with a diversified portfolio across offices, industrial, and retail, has demonstrated increasing resilience and adaptability in a shifting macroeconomic landscape. As of 30 May 2025, Argosy's share price stands at NZ$1.04, representing a modest 1-year increase of +0.97%, having outperformed wider sector averages during periods of volatility. While recent weeks have seen minor pullbacks (down 3.7% over the last week and 5.02% over six months), these drawdowns must be contextualized within a broader pattern of stabilization.

Crucially, the company delivered a remarkable turnaround in its FY25 results: revenue rose 1.7% to NZ$155.7 million and, most notably, it swung from a 2024 net loss to a NZ$125.9 million net profit—a testament to prudent capital management and favorable asset revaluations. The current share price sits towards the lower end of the 52-week range (NZ$0.965–NZ$1.20), underpinned by a robust dividend yield of 6.33% and a consensus target price of NZ$1.14, suggesting almost 10% upside.

The local REIT sector is experiencing renewed investor enthusiasm as New Zealand’s economy enters a phase of relative stability, underpinned by resilient rental demand, especially for “green” properties. This sector-wide pivot towards sustainability aligns perfectly with Argosy's recent developments, further enhancing its competitive positioning.

Positive Recent Events

• Strategic Wellington CBD development: Commitment of NZ$64 million for a premium, sustainable asset targeting landmark Green Star and NABERSNZ certifications, signaling ongoing portfolio upgrading.
• Restoration of dividend growth: Announcement of a Q4 2025 dividend (NZ$0.018/share; ex-dividend 10 June 2025) underscores management’s confidence in recurring cash flows.
• Strong operational execution: Surpassing analyst expectations in its latest financial reporting cycle, especially through robust revaluations and rent growth in flagship assets.

Favorable Sector Backdrop

• Consistent appetite for ESG-compliant and energy-efficient properties, with demand for green buildings notably exceeding supply—fueling rental growth and premium occupancy rates.

These factors combine to create a scarcity premium for quality assets, an environment where Argosy is uniquely positioned to thrive.

Technical Analysis

Despite recent technical softness—commonly a precursor to value-oriented buying opportunities—Argosy Property’s shares are displaying signals that merit investors’ attention.

Key Indicators

• Relative Strength Index (RSI): At 38.7, ARG enters the “oversold” zone, historically a possible inflection point for medium-term reversals, especially when supported by renewed fundamental momentum.
• MACD: Mildly negative at -0.011, reinforcing short-term caution but often associated with sentiment troughs that precede upward shifts when fundamentals improve.
• Moving Averages: While the 20-, 50-, 100-, and 200-day moving averages currently indicate a downward bias, the 5-day MA at NZ$1.038 delivers an early “buy” signal, suggesting the price may be approaching a local support base.

Support and Resistance

• Strong support: NZ$1.033 (primary) and NZ$1.026 (secondary) provide a stable technical floor, limiting further downside risk in the current environment.
• Upside targets: NZ$1.043 (minor resistance) and NZ$1.07 (key resistance at the 20-day MA); a clear break above these could trigger renewed buying activity.

Short- and Medium-Term Structure

The confluence of oversold technicals, stabilizing near-term momentum, and supportive macro tailwinds hints that Argosy Property could soon exit its consolidation phase, with technical lows providing an ideal entry for patient investors attuned to value opportunities.

Fundamental Analysis

Argosy's fundamental backdrop has sharply improved, lending strong support to a constructive outlook.

Revenue and Profitability

• Revenue: Up 1.7% YoY to NZ$155.7 million, in a period that saw many peers stagnate, reflecting successful portfolio repositioning.
• Net profit: A dramatic NZ$180 million swing—from a NZ$54.5 million loss in 2024 to a NZ$125.9 million profit—driven by both improved operational efficiency and a significant NZ$72.7 million fair-value uplift in its property assets.
• Margin: At 81%, the net margin is exceptionally strong for the REIT sector, bucking wider market trends.

Attractive Valuation

• P/E (TTM): 6.93—well below both market and historical sector averages, implying substantial relative undervaluation.
• Price/Book: 0.69—suggesting a 31% discount to net asset value; an unusually wide margin for a stabilized, income-producing property vehicle.
• Price/Sales (TTM): 5.72—reasonable for a diversified REIT profile.
• Dividend yield: 6.33%, combining attractive income and defensive qualities, ideal for both yield and growth-oriented mandates.

Structural Strengths

• ESG Leadership: Aggressive conversion of assets to the highest sustainability standards (6-star Green Star; 5-star NABERSNZ), capturing regulatory and tenant demand.
• Portfolio diversification: ~100 prime properties across Auckland, Hamilton, and Wellington, de-risking single-asset and geographic exposures.
• Strong institutional and insider ownership: Almost 28% held by institutions/executives, aligning management interests with shareholders and underpinning governance quality.
• Brand strength: Recognized as a leader in green commercial property solutions within New Zealand, which is increasingly translating into higher tenant retention and rental premiums.

Volume and Liquidity

Liquidity remains a hallmark of Argosy Property, with sustained three-month average daily trading volume hovering around 687,000 shares. This robust activity:

• Demonstrates ongoing institutional confidence and depth of market.
• Ensures retail and larger investors alike can establish or adjust positions with minimal spread impact.
• Supports dynamic repricing in response to emergent catalysts.

The free float is sufficiently ample to facilitate regular price discovery while keeping the share price responsive to positive corporate developments and sector flows.

Catalysts and Positive Outlook

Several tangible and potential factors reinforce an optimistic mid- and long-term trajectory for Argosy Property:

Major Catalysts

• Sustainable Property Upgrades: Continued investment in high-performance green buildings—notably the Wellington CBD project—is likely to accelerate lease-up, generate rental uplifts, and reinforce premium pricing power.
• ESG Premium: As occupiers and investors gravitate to the highest-grade, most sustainable assets, Argosy is optimally positioned for outsized returns—particularly as institutional mandates become increasingly ESG-driven.
• Market sentiment: External analysts judge the shares to be ~20% undervalued versus intrinsic net asset value (Simply Wall St), spotlighting latent upside as recognition of its turnaround deepens.
• Dividend continuity and growth: Recent dividend announcements provide attractive income for income-focused portfolios and build confidence in sustainably growing cash flows.
• Regulatory and Policy Tailwinds: With ongoing government emphasis on energy efficiency and workplace sustainability, demand for green-certified property in NZ’s main centres is set to remain heightened.
• Portfolio flexibility: Ability to rebalance across commercial, industrial, and retail segments depending on economic conditions, giving risk-resiliency rare among domestic REITs.

Investment Strategies

Short-Term Entry

For nimble investors, the current technical oversold signals, combined with proximity to critical support (NZ$1.033–1.026), suggest a compelling tactical entry point—especially ahead of the ex-dividend date (10 June 2025) and annual general meeting (22 July 2025), both of which may serve as positive catalysts.

Medium-Term Positioning

Positioning ahead of visible leasing announcements or green asset completions—such as the Wellington CBD development—may unlock above-consensus returns, as the market fully digests the impact of ESG upgrades and improved asset yields.

Long-Term Perspective

• Compounding dividend income at sector-leading yields (6.33%+).
• Capital appreciation as sustained rental growth and ESG re-positioning drive net asset value expansion.
• Ongoing portfolio and operational advances, leveraging the management team’s proven execution and strategic discipline.

Entry at current valuations (P/E

Is it the Right Time to Buy Argosy Property?

In sum, Argosy Property has confirmed its credentials as a best-in-class, resilient, and forward-looking REIT through its 2025 rebound—translating sectoral headwinds into renewed profitability and positioning itself for growth as the New Zealand market embraces sustainability-led transformation. Key strengths include:

• A remarkable financial turnaround and robust profit margins.
• Attractive and secure dividend yield, supporting income strategies.
• Disciplined capital management and insider alignment.
• ESG leadership that is rapidly creating additive value in both rental and asset valuations.
• Discount to intrinsic value—offering both downside protection and meaningful upside.

With technical indicators pointing to a potential bullish reversal at attractive support levels, and the macro and micro catalysts well aligned, Argosy Property seems to represent an excellent opportunity for discerning investors seeking exposure to the NZ property sector’s emerging leaders. The fundamentals and valuation justify renewed interest, and the convergence of strategic initiatives with positive market trends suggest that Argosy Property may be entering a new bullish phase in 2025 and beyond.

In this context, Argosy Property’s unique blend of turnaround momentum, defensive cash flows, and ESG-driven growth makes it an institutional-quality stock that investors should seriously consider as part of a balanced portfolio in the current New Zealand market landscape.

How to buy Argosy Property stock in New Zealand?

Buying shares of Argosy Property Limited (ARG) online is both straightforward and secure when using a regulated broker operating in New Zealand. Investors can choose between two primary methods: direct share purchase (spot buying), where you own the shares outright, and CFD trading, which allows you to speculate on price movements without owning the underlying asset. Each approach has distinct advantages and risks. To help you get started, a detailed comparison of brokers and their fees is available further down this page.

Spot Buying

Spot buying means purchasing Argosy Property shares directly on the New Zealand Exchange (NZX), becoming a shareholder and eligible for dividends. This method is well-suited for those looking to benefit from both capital gains and dividend income. Most NZ brokers charge a fixed commission per trade, typically around NZ$5–NZ$15 per order, depending on the platform.

Example

Suppose the current Argosy Property share price is NZ$1.04. With a NZ$1,000 investment, and factoring in a typical NZ$5 brokerage fee, you could purchase approximately 955 shares.
- Calculation: (NZ$1,000 – NZ$5 fees) ÷ NZ$1.04 ≈ 955 shares

✔️ Gain Scenario

If the Argosy share price rises by 10% (to NZ$1.14), your shares would now be worth NZ$1,100.
- Result: +NZ$100 gross gain, or +10% on your initial outlay (before tax and any brokerage fees on sale).

Trading via CFD

CFD (Contract for Difference) trading lets you speculate on Argosy Property’s share price movements without owning the shares. CFDs are leveraged products, meaning you can control a larger position with less capital, but this magnifies both gains and losses. Fees include the spread (the difference between buy/sell price) and daily overnight funding costs if you hold positions open, making this more suitable for short- to medium-term trading.

Example

You open a CFD position on Argosy Property shares using NZ$1,000 as margin with 5x leverage, giving you NZ$5,000 of market exposure.
- If the share price rises by 8%, your position gains 8% × 5 = 40%.
- Result: +NZ$400 gross gain on your NZ$1,000 stake (excluding spread and overnight fees).

Final Advice

Before investing in Argosy Property, it’s crucial to compare the fees, minimum investment, and features of various brokers—costs can impact your returns, and conditions may vary widely. Your choice between buying shares directly or trading via CFDs should depend on your financial objectives, risk tolerance, and investment horizon. You’ll find a thorough broker comparison further down this page to guide you towards the option that best fits your needs.

Our 7 tips for buying Argosy Property stock

The latest news about Argosy Property

Argosy Property posts an exceptional financial turnaround in its FY2025 results, with a net profit of NZ$125.9 million. The company’s shift from a loss of NZ$54.5 million last year to a strong net profit was primarily driven by a 3.6% uplift in portfolio value and disciplined cost management, resulting in a high profit margin of 81%. Analysts’ expectations were significantly exceeded, and the company reported year-on-year revenue growth to NZ$155.7 million, reinforcing its resilience in the New Zealand commercial property sector.

The Board has confirmed a Q4 2025 dividend payment of NZ$0.018 per share, with an ex-dividend date set for 10 June 2025. This sustains Argosy’s robust dividend yield, now at 6.33%, which remains highly attractive in the New Zealand REIT space. The reliability and consistency of the dividend, alongside a solid payout record, position the stock as an appealing option for income-focused investors within the local market.

Argosy has launched a NZ$64 million flagship development in Wellington CBD aiming for top sustainability ratings. The project targets both a 6 Green Star Built rating and a 5-star NABERSNZ rating, underscoring management’s strategic focus on green buildings. With accelerating demand for certified sustainable office and industrial space in New Zealand, the move is expected to enhance portfolio quality, boost rental growth, and support longer-term occupancy rates, bolstering Argosy’s competitive advantage and ESG credentials.

Market consensus remains positive, as the stock is considered undervalued by around 20% and offers ~10% price upside. Leading analyst platforms such as Simply Wall St cite a consensus target price of NZ$1.14 per share, approximately 9.6% above the current level. This, combined with the company’s low price-to-book ratio of 0.69 and resilient operating metrics, signals growing optimism around Argosy’s medium-term prospects, especially for New Zealand investors seeking exposure to defensive, well-located commercial real estate.

Portfolio performance is underpinned by strong local demand for sustainable assets, especially in Auckland, Hamilton, and Wellington. With close to 100 properties diversified between office, industrial, and retail, and high occupancy driven by ‘green’ credentials, Argosy is well-positioned in New Zealand’s main urban markets. The company’s ESG-driven transformation is delivering higher rents and lease retention, a trend likely to remain highly relevant for local stakeholders as tenants and investors increase their focus on environmental factors.

FAQ

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.