Should I buy Kiwi Property Group stock in 2025?

What is Kiwi Property Group?

How much is the Kiwi Property Group stock?

The price of Kiwi Property Group stock is rising this week. Currently trading at NZ$0.90, the stock gained 1.69% in the last 24 hours and is up 3.45% over the week. Kiwi Property Group’s market capitalisation stands at NZ$1.44 billion, with an average three-month trading volume of 1.85 million shares. The P/E ratio is 25.42, while the dividend yield is an attractive 7.44%, and the stock beta is a low 0.37, indicating below-average volatility. These factors highlight Kiwi Property Group as a potentially stable option for NZ investors seeking both income and long-term growth.

Our full analysis of the Kiwi Property Group stock

We have undertaken a comprehensive review of Kiwi Property Group's latest financial statements and scrutinised its stock performance across the past three years. By integrating a deep dive into fundamentals, technical market signals, peer benchmarking, and sector trends—leveraged through our proprietary analytical models—our evaluation presents a multidimensional picture of the company. So, why might Kiwi Property Group stock once again become a strategic entry point into the New Zealand real estate sector as we approach 2025?

Recent Performance and Market Context

Kiwi Property Group (KPG) has staged a notable recovery in the past year, outperforming several pure-play property peers on the NZX and reinstating itself at the forefront of New Zealand’s listed real estate investment trusts (REITs). As of May 30, 2025, the stock is trading at NZ$0.90, rising +1.69% in the previous session and posting a robust +11.80% return over the trailing twelve months. This movement stands out particularly when considering a -4.26% drawdown over the previous six months, highlighting a convincing turnaround and potentially signalling a regime change in sentiment.

Positively, KPG’s strong bounce is underpinned by recent disclosures of a return to profitability in its FY2025 results, with net income reaching NZ$56.99 million and earnings per share rebounding to NZ$0.036, compared to a NZ$0.001 loss in FY2024. Strategic investments—such as the Mackersy Property partnership—and ongoing progress at the Drury development project, are positioning the Group for outsized future prospects.

From a sectoral perspective, KPG further benefits from positive macro tailwinds: stable or declining interest rate expectations, robust consumer spending data, and growing demand for mixed-use spaces support the company’s broad portfolio focus. Altogether, this landscape favours New Zealand real asset owners with deep local market expertise. Against this backdrop, Kiwi Property’s momentum appears far from exhausted.

Technical Analysis

Technical indicators on Kiwi Property Group are currently flashing a resolutely bullish message. The Relative Strength Index (RSI) stands at 61, firmly in buy territory but notably short of overbought levels, suggesting more room for upside. The MACD (at 0.006) has crossed into positive territory, signalling a bullish momentum shift. Moving averages further reinforce this outlook, with the share price positioned above the 20, 50, 100, and 200-day averages (NZ$0.892, NZ$0.884, NZ$0.892, and NZ$0.884, respectively), each producing buy signals.

Crucially, price action reflects a well-supported structure: NZ$0.87 represents a strong recent low, while resistance at NZ$0.915 marks the next technical hurdle. The stock is currently trading within a tight upward band, supported by consensus technical analysis revealing 10 buy signals against only 2 sells—indicating near-term momentum remains in favour of further gains.

Short- to medium-term traders may find the alignment of these technical factors particularly appealing. The risk-reward structure, with support at NZ$0.87 and a clear upside path towards NZ$0.915 and beyond, appears balanced and attractive, especially given the backdrop of rising trading volumes.

Fundamental Analysis

Kiwi Property Group’s FY2025 financial results point to a compelling improvement in the company’s core operating metrics. Revenue climbed to NZ$263.72 million and net profit margin accelerated to 21.61%, signifying tight cost controls and healthy rental growth. Gross profit margins remain among the sector’s best at 75.21%. Importantly, a reversal from a loss in 2024 to significant positive net income demonstrates management agility and the resilience of KPG’s diversified property portfolio.

Valuation remains a core strength. The price-to-earnings (P/E) ratio sits at 25.4x trailing twelve months, which may appear elevated at first glance, but is mitigated by the company’s projected annual earnings growth rate of 18.4%. The price-to-book (P/B) ratio of 0.77, with the company trading at over 23% below estimated fair value, underlines a degree of market caution that seems at odds with the company’s operational rebound and growth prospects. On a dividend basis, the forward yield sits at 6.1% (7.44% trailing), placing KPG among the top income-generating REITs on the NZX.

• Diversified asset base: A well-spread portfolio of retail, office, and mixed-use developments across key urban centres.
• Market leadership: Inclusion in the S&P/NZX 20 and a reputation as one of the largest and best-managed New Zealand REITs.
• Active and disciplined management: Ongoing rationalisation of employment and administrative costs (down NZ$7.5 million year-on-year) and targeted investments driving growth and optionality.
• Strong ESG agenda: Demonstrated commitment to sustainability, including an ongoing green bonds programme.

Volume and Liquidity

Trading activity in KPG remains highly resilient, averaging 1.85 million shares daily over the last three months—a sign of sustained investor interest and robust liquidity. The stock’s free float, at approximately 1.6 billion shares, is conducive to dynamic price formation and attracts both institutional and retail participants. This scale of liquidity ensures that market entries and exits can be executed efficiently even around corporate actions and earnings events—particularly attractive for short- and medium-term trading strategies.

Notably, the presence of large institutional investors, including the NZ Superfund and international funds such as those managed by Vanguard, builds an additional layer of confidence in the company’s long-term investment case. The combination of strong daily volumes and institutional support sets the groundwork for robust pricing power in response to future catalysts.

Catalysts and Positive Outlook

• Return to Profitability: FY2025 marked a shift back to net income, with EPS swinging from a loss to NZ$0.036—signalling financial resilience.
• Analyst Upside: The consensus target price of NZ$0.98 (offering nearly 9% upside) and calculated +30% target of NZ$1.17 indicate room for rerating as fundamentals further strengthen.
• Drury Development: Progress on this ambitious development unlocks long-term rental income streams and capital appreciation potential.
• Rental Growth: Leasing spreads improved 8.3%, evidencing strong tenant demand and pricing power.
• Cost Rationalisation: NZ$7.5 million in administrative cost savings enables better operating leverage and margin stability.
• ESG Progress: Active pursuit of sustainability via green financing and operational efficiency sets KPG apart in a market increasingly factoring ESG metrics into investment decisions.

Sector factors also lend further support: the prospect of declining interest rates bodes well for property yield spreads, while stable economic growth in New Zealand underpins consistent retail and commercial demand. These positive variables, combined with KPG’s unique positioning, suggest potential for both income and capital gains remains strong.

Investment Strategies

• Short-term: The stock’s robust volume, strong buy technical indicators, and clear support at NZ$0.87 create attractive entry/exit points for tactical positioning—particularly around key events such as the ex-dividend date (June 5, 2025) or anticipated newsflow on property development milestones.
• Medium-term: For investors with a 3-12 month horizon, the confluence of improving financials, expected earnings upgrades, and the possibility of a rerating towards analyst targets supports the case for accumulation now—particularly as the stock still appears undervalued relative to peer multiples and discounted cash flow metrics.
• Long-term: Income-focused investors are rewarded with a 6-7.5% yield, underpinned by quarterly payouts and visibility on dividend policy. The ongoing portfolio transformation (notably Drury), focus on ESG, and prudent capital allocation should drive sustained total returns as management executes on its multi-year growth roadmap.

Ideal positioning appears to be at or just above the current level, as the technical structure is well-supported with upside catalysts on the immediate horizon—including completion of major developments and further operational outperformance.

Is It the Right Time to Buy Kiwi Property Group?

Kiwi Property Group brings to the table a rare blend of attractive valuation, demonstrable operational turnaround, sector leadership, and a high, sustainable income stream. With fundamentals pointing towards continued earnings recovery, consensus targets highlighting undervaluation, and technical trends confirming persistent buying interest, the stock seems to represent an excellent opportunity for both income seekers and growth-oriented investors.

The Group’s ongoing strategic development, commitment to green finance initiatives, and robust institutional support provide additional layers of confidence. While prudent monitoring of leverage and dividend coverage is required, the balance of risk and reward appears meaningfully tilted to the upside at current levels.

In summary, Kiwi Property Group’s convergence of strong financial recovery, sector leadership, and technical momentum suggest that the window for renewed consideration may be wide open for discerning investors as we move through 2025—offering substantial potential for capital appreciation and predictable income in a stabilising New Zealand property market.

For investors seeking both stability and upside in NZ’s premier property sector, Kiwi Property Group stands out as a compelling, well-supported candidate in today’s market landscape.

How to buy Kiwi Property Group stock in New Zealand?

Buying Kiwi Property Group shares online is straightforward and secure for New Zealand investors when using a regulated broker. Today, you have two main ways to invest: spot (cash) buying, where you directly own the shares, and CFD trading, which lets you speculate on price movements without taking direct ownership. Both options are accessible through online platforms, often with intuitive interfaces and clear safety standards. Your choice will depend on your investment goals and risk tolerance. For help finding a platform that suits your needs, don’t miss our broker comparison further down this page.

Spot (Cash) Buying

Cash buying means you purchase real shares of Kiwi Property Group and become a shareholder. This is the classic way most investors own shares and allows you to receive dividends and vote at shareholder meetings. Regulated NZ brokers typically charge a fixed commission per order—ranging from NZ$3 to NZ$15, depending on the platform.

Example with a NZ$1,000 investment

If the Kiwi Property Group share price is NZ$0.90, you could buy about 1,100 shares with a NZ$1,000 stake, once you factor in a standard brokerage fee of around NZ$5.

✔️ Gain scenario

If the share price rises by 10%, your shares are now worth NZ$1,100.
Result: That’s a NZ$100 gross gain, or +10% on your investment.

Trading via CFD

CFDs (Contracts for Difference) allow you to trade on the price movement of Kiwi Property Group shares without owning them outright. This approach is popular with more active traders and offers flexibility—including the ability to use leverage. With CFDs, fees typically include the spread (difference between buy and sell prices set by the broker) and possible overnight financing costs if you hold positions open beyond the trading day.

Example with a NZ$1,000 stake and 5x leverage

You open a CFD position on Kiwi Property Group with 5x leverage, giving you NZ$5,000 worth of market exposure.

✔️ Gain scenario

If the stock price increases by 8%, your position gains 8% × 5 (leverage) = 40%.
Result: That’s a NZ$400 gain on your initial NZ$1,000 (excluding fees).

Final Advice

Before you invest in Kiwi Property Group, it’s essential to compare brokers’ fees, security standards, and platform features. Your costs and experience can vary widely between providers. Think about your own objectives: direct share ownership via spot buying may suit long-term, dividend-focused investors, while CFDs offer flexibility for active traders ready to manage higher short-term risk. To help you choose, be sure to consult our broker comparison tool lower on the page.

Our 7 tips for buying Kiwi Property Group stock

The latest news about Kiwi Property Group

Kiwi Property Group returned to profitability in its FY2025 results released on May 28, 2025. This marks a significant operational improvement after posting a loss in the previous fiscal year, reporting net income of NZ$56.99 million and earnings per share of NZ$0.036. The shift reflects successful growth initiatives and effective cost management, notably a NZ$7.5 million reduction in employment and administration expenses, which have supported robust margins—gross profit margin reached 75.21% and net profit margin 21.61%.

Analysts maintain a bullish outlook, with technical indicators strongly favouring a buy and the stock trading below fair value. Multiple technical signals—RSI, MACD, and all main moving averages—currently point to a “Strong Buy,” further supported by a week-on-week share price gain of +3.45%. At NZ$0.90, KPG is trading at a 23.4% discount to estimated fair value, providing scope for capital appreciation, and the consensus target price of NZ$0.98 implies an additional 8.9% upside from current levels.

Kiwi Property announced a strategic investment in Mackersy Property to enhance capital access and growth opportunities. This move is intended to diversify revenue streams and strengthen the company’s presence and capabilities within New Zealand’s property sector. Such strategic investments and alliances are designed to capitalize on market opportunities, support future development ambitions, and underscore KPG’s proactive management approach.

The Group’s leasing performance and property valuations continue to improve, indicating resilient demand and asset quality. Leasing spreads have risen by 8.3%, signifying strong rental demand across KPG’s retail and office assets, while overall portfolio valuations increased 1.1%. These trends reinforce the stability of cash flows and the company’s capacity to deliver on its attractive dividend yield of 7.44%, crucial for income-oriented investors.

Progress in the Drury development and the upcoming AGM on July 1, 2025, highlight ongoing strategic project execution and shareholder engagement. The Drury development project continues to expand KPG’s longer-term growth platform, supporting the company’s projected 18.4% per year earnings growth. The scheduled AGM also presents an opportunity for transparent shareholder communication regarding strategic initiatives, ESG progress, and governance—key considerations for both retail and institutional investors in New Zealand.

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.