Should I Buy Stride Property Stock in 2025? Complete NZ Analysis

What is the Stride Property?

How much is the Stride Property stock?

The price of Stride Property stock is rising this week. Currently trading at NZ$1.13, the stock shows a daily gain of +0.89% but a 5-day decrease of -2.59%. Stride Property’s market capitalisation stands at NZ$632.2 million, with an average daily volume of about 688,840 shares over the past three months.

With a 5-year beta of 0.31, Stride Property tends to show low volatility, making it a potentially stable option for NZ investors seeking income and resilience.

Our full analysis on the Stride Property stock

Having carefully reviewed Stride Property Group’s latest FY25 financial results, analysed the share price evolution over the past three years, and synthesised financial ratios, technical patterns, sector intelligence and peer benchmarking through our proprietary algorithms, it is clear that Stride Property stands at an intriguing inflection point. As New Zealand’s listed property landscape recalibrates amidst falling interest rates and a renewed focus on sustainable development, the company’s mix of defensive fundamentals and evolving catalysts comes into sharp focus. So, why might Stride Property stock once again become a strategic entry point into the property investment sector in 2025?

Recent Performance and Market Context

In the backdrop of a searching year for listed property vehicles, Stride Property Group (SPG.NZ) has demonstrated notable resilience and emerging signs of stability. As of 30 May 2025, shares trade at NZ$1.13, with a capitalisation of NZ$632.2 million. While the trailing twelve months saw the stock soften by approximately 9% to 12%—mirroring sector-wide pressures—critical recent developments point to a more neutral-to-positive sentiment shift:

• Share price stabilisation: The current price is anchored just above the 52-week low (NZ$1.09) after a six-month drawdown of –15.7%, reflecting both defensive repositioning and an absorption of challenging property valuations.
• Resilient dividend: SPG maintained its annual dividend at 8.0 NZ cents, equating to an attractive yield range of 6.9%–9.1% at current prices—one of the highest among NZX-listed real estate names—signalling enduring cash flow discipline.
• Market context: The Reserve Bank of New Zealand’s (RBNZ) recent easing cycle marks a pivotal macro turning point, likely underpinning a recovery in sentiment and valuations for the property sector. Early indications from sector indices suggest commercial property values may be stabilising, following a period of mark-to-market write-downs.

Positive momentum is further supported by meaningful strategic moves, including asset repositioning (notably the sale of three Investore properties and the acquisition of Bunnings Westgate), ongoing industrial development, and decisive management responses to prevailing headwinds.

Technical Analysis

A technical lens adds further nuance to the thesis for re-engagement:

• Moving averages: While SPG currently trades below both its 50-day (NZ$1.16) and 200-day (NZ$1.29) moving averages—indicating recent underperformance relative to trend—the proximity to the long-term, multi-year support zone at NZ$1.09 strongly suggests downside risk is now contained by robust value anchoring.
• Support and resistance: The NZ$1.09 level represents a multi-touch support, having been tested and defended across recent months. Upside resistance at NZ$1.16–1.20 (initial) and NZ$1.49 (52-week high) establishes a clear, attractive risk/reward band, particularly for medium-term positioning.
• Momentum indicators: Technicals such as RSI and MACD have recently reset from oversold territory, with volume signals pointing to accumulation phases—hallmarks of early bullish trend reversals.
• Volume structure: Sustained daily volume (averaging nearly 689,000 shares) reflects persistent institutional engagement and suggests that liquidity conditions are robust enough to support price discovery when new catalysts emerge.

These dynamics point to a chart set up that is arguably approaching completion of a medium-term base, with the share price sitting at a confluence of technical supports and poised to benefit from sector-wide tailwinds.

Fundamental Analysis

Fundamentals for Stride Property remain compelling, particularly against a backdrop of stabilising market conditions:

• Revenue and earnings: FY25 headline revenues rose 21% to NZ$118.1 million, with net profit rebounding to NZ$21.7 million from a substantial FY24 loss—an impressive turnaround despite some ongoing pressure on distributable income due to short-term valuation markdowns.
• Defensive portfolio: The group controls a high-quality, diversified portfolio valued at NZ$1.5 billion, with occupancy levels at 95% and a weighted average lease term (WALT) of 6.6 years. This ensures visible, recurring revenue and limits downside earnings risk.
• Attractive valuation: At current levels, SPG trades at a notable ~34% discount to its Net Tangible Asset (NTA) value per share (NZ$1.72 vs. NZ$1.13 market price), positioning the stock similarly to, or at a more attractive margin, than direct peers. While the current P/E multiple (approx. 28–29x) may appear elevated post-adjustment for non-cash revaluations, it is more than offset by the implied yield, asset coverage, and potential for earnings normalisation as rate pressures abate.
• Growth strategy: Stride’s ongoing expansion into industrial development (with more than NZ$58M in active projects targeting Green Star certification and expected yields of 6%+) promises future uplift in rental income and asset values, addressing both economic and ESG imperatives.
• Brand and management: The company’s reputation for disciplined capital stewardship, proven asset recycling, and strong tenant relationships—under the stewardship of CEO Philip Littlewood—remain strategic advantages, distinguishing Stride among NZ property REITs.

Volume and Liquidity

Market liquidity is a critical but sometimes overlooked feature supporting both institutional investor interest and optimal price formation:

• Trading volumes: An average daily volume of nearly 689,000 shares—alongside a public float of 558 million—ensures that SPG’s shares offer deep liquidity, supporting both risk-managed entry and exit strategies across investment horizons.
• Float structure: The stapled security format (SPL + SIML) also provides structural flexibility, creating additional avenues for strategic capital management and investor engagement. This aligns with recent refinancing activity, which has extended the average duration of SPG’s banking facility to five years—reducing refinancing risk and providing a firm platform for operational execution.

In aggregate, the liquidity profile of the stock underscores a degree of market confidence and dynamic valuation potential. These features may position SPG as a preferred vehicle for funds seeking nimble access to NZ commercial property rebound.

Catalysts and Positive Outlook

Several well-defined catalysts set Stride apart as the NZ property landscape shifts from re-pricing to recovery:

• Monetary policy tailwind: With the RBNZ initiating a rate-cutting cycle, the cost of capital for property owners is materially improved. Not only does this enhance direct property yields, but it also drives a sector rotation back toward quality yield-generating assets, as observed in previous easing cycles.
• Stabilising asset values: The tempo and scale of fair value adjustments to property portfolios are moderating, with Stride reporting a much-reduced revaluation impact (–NZ$29.5M in FY25 vs. –NZ$75.8M in FY24). This supports a more stable earnings and dividend outlook.
• Lease growth resilience: Portfolio-wide rent growth of 3.8% in FY25 (despite broader economic softness) underlines pricing strength, supported by a sharp focus on retaining and attracting quality tenants.
• Strategic recycling and development: Disposals of non-core assets (notably within Investore), paired with the acquisition of logistics and big-box retail properties, reflect a nimble approach to capital allocation. Moreover, NZ$58 million of ongoing industrial development exposes SPG to earnings accretion as new assets come online.
• Sustainability and ESG: Outperformance in ESG metrics—notably a 5 Green Star rating target for industrial projects and a committed 42% emissions reduction by 2030—position Stride to tap into growing pools of sustainability-driven capital and to future-proof asset values amid tightening regulation.
• Banking and capital markets strength: Recent reductions in borrowing margins and active management of interest rate hedging (72% coverage) mitigate balance sheet risk, bolstering confidence even in periods of rate volatility.

In context, these positive forces all converge heading into FY26, positioning Stride to ride a cyclical and structural upswing.

Investment Strategies

Across short, medium, and long-term horizons, Stride Property sits at a technical and fundamental juncture that appears to offer a distinctly attractive entry profile:

• Short-term: The current compression toward 52-week lows, in tandem with robust support at NZ$1.09, creates a defined risk zone for tactical entries—particularly as technical indicators (like RSI and MACD) suggest a basing pattern, and daily trading volumes hold steady.
• Medium-term: A break above resistance at NZ$1.16–1.20 could reignite momentum, especially if accompanied by sector-wide upward moves or evidence of improved performance in the office and retail segments. Scheduled completion of industrial projects and further evidence of rental growth could serve as further catalysts to re-rate the stock toward consensus targets.
• Long-term: The value case emerges most strongly, with the current discount to NTA offering a meaningful margin of safety and the yield profile likely to attract both local and offshore income-oriented portfolios. The medium-term trajectory is underpinned by sector rotation potential, improved capital market access, and management’s ongoing delivery on strategic targets.

For all timeframes, investors may consider scaling positions incrementally near support, or ahead of expected catalysts such as semi-annual results, RBNZ rate decisions, or asset recycling announcements.

Is It the Right Time to Buy Stride Property?

In synthesising the current technical, fundamental, and sector-based signals, Stride Property appears to represent an excellent opportunity at a technical low, with a compelling set of upside catalysts on the horizon. Key strengths include:

• A high, well-covered and sustainable dividend
• A defensive, diversified, and actively managed commercial property portfolio
• Material discount to NTA
• Clear evidence of asset value and earnings stabilisation
• Positive macro and monetary tailwinds
• Robust liquidity and secure capital structure
• Measured, ESG-driven growth strategy

Analyst consensus points to 20%+ upside potential from current levels, and the overall risk-reward skew appears increasingly favourable as market conditions turn the corner. For investors seeking resilient yield, discounted asset-backed value, and exposure to potential sector recovery in 2025, the fundamentals justify renewed interest in Stride Property. The combination of stabilising property valuations, bold capital recycling, and the supportive interest rate environment indicates that the stock may be entering a new bullish phase.

For those looking to capitalise on New Zealand’s dynamic commercial property renaissance, Stride Property Group deserves to be very high on the radar, with its current valuation and positive outlook presenting what looks to be a strategically timed opportunity to engage with the sector’s next cycle.

How to buy Stride Property stock in NZ?

Buying Stride Property Group shares online is both straightforward and secure when you use a regulated broker based in New Zealand. Today, investors have two main ways to access Stride Property (ticker: SPG) on the NZX: classic “spot” (cash) share purchases, or trading Contracts for Difference (CFDs). Both approaches can be initiated within minutes from your phone or computer, giving you fast access to the NZ market. Your choice of broker and trading method will impact costs and flexibility—see our NZ broker comparison further down this page for a side-by-side look at popular options.

Cash buying

When you buy Stride Property shares for cash, you become a direct shareholder in the company. This means you own the actual shares, are eligible to receive dividends, and can hold your investment long-term. Most NZ brokers charge a fixed commission for each order, typically around NZ$3–NZ$15 depending on the platform and the transaction size.

Example

If the Stride Property share price is NZ$1.13, with a $1,000 stake you could purchase about 880 shares (factoring in a typical NZ$5 brokerage fee).

Gain scenario: If the share price climbs by 10%, your shares would be worth NZ$1,100.

Result: That’s a NZ$100 gross gain, or +10% on your initial investment—plus, you may also receive dividends.

Trading via CFD

CFD (Contract For Difference) trading lets you speculate on the price movement of Stride Property shares without owning the underlying stock. With CFDs, you trade on margin, which means you can access leverage (typically 2x to 5x), amplifying both gains and losses. CFD trading involves costs such as the spread (difference between buy and sell prices), and overnight financing fees if you hold trades for more than a day.

Example

Suppose you open a CFD position on Stride Property with a $1,000 margin and 5x leverage. That gives you exposure equivalent to $5,000 worth of shares.

Gain scenario: If the share price rises by 8%, your position increases in value by 8% × 5 = 40%.

Result: That’s a $400 gain on a $1,000 commitment (not including fees). Remember, leveraged trading can magnify both gains and losses.

Final advice

Before investing in Stride Property shares, it’s essential to compare broker fees, trading conditions, and platform reliability—both for spot purchasing and CFD trading. Each method suits different profiles: spot buying is typically preferred by long-term, dividend-oriented investors, while CFDs may appeal to active traders seeking short-term opportunities with leverage. Ultimately, your choice depends on your financial goals, risk tolerance, and preferred investment style. To help you make an informed decision, be sure to consult our detailed broker comparison further down the page.

Our 7 tips for buying Stride Property stock

The latest news about Stride Property

Stride Property Group reported FY25 annual results with net profit recovery and stable dividend, reinforcing investor confidence. On 28 May 2025, Stride Property Group released its annual results, announcing a net profit of NZ$21.7 million—rebounding from a loss of NZ$56.1 million in FY24—driven by a significant reduction in portfolio revaluation losses. The dividend was maintained at 8.0 cents per share, underlining management’s commitment to shareholder returns. Although distributable profit and rental income slipped year-on-year and missed analyst consensus, the maintenance of the dividend and signs of market stabilization have been viewed positively by local investors.

Strategic property transactions and portfolio diversification enhance Stride’s financial resilience and future earnings potential. Recently, Stride executed several major portfolio moves: it divested three properties via its Investore subsidiary for NZ$79.3 million and acquired the Bunnings Westgate site for NZ$51 million, while advancing NZ$58 million in new industrial developments in Hamilton and Auckland. These efforts are complemented by a reduction in bank margins for its industrial division, boosting financial flexibility. The portfolio remains highly diversified, with assets in office, retail, and industrial sectors, a 95% occupancy rate, and an average lease term (WALT) of 6.6 years, providing robust income visibility and risk mitigation for the New Zealand market.

Falling official interest rates by the RBNZ are improving real estate market conditions and supporting Stride’s performance outlook. During the last week, the Reserve Bank of New Zealand (RBNZ) initiated a reduction in the official cash rate. This monetary easing is expected to lower funding costs and stimulate broader property transaction activity, offering tailwinds to listed property vehicles such as Stride. Combined with early signs of rental and capital value stabilization, this change is contributing to a moderately optimistic sentiment among market participants regarding the outlook for NZX-listed property trusts.

Sustainability initiatives and targeted development pipeline support Stride’s growth and align with New Zealand ESG priorities. Stride continues to prioritize environmental and social responsibility in its strategic roadmap, showcasing new industrial developments aiming for 5 Green Star certification—a benchmark for sustainable buildings in New Zealand. The company remains committed to reducing its emissions by 42% by 2030 and recycles capital to fund growth opportunities. These initiatives have elevated Stride’s profile with both institutional and ESG-minded investors, potentially differentiating the group in a competitive local real estate investment trust landscape.

Despite short-term performance softness, analyst consensus signals 20%+ upside and strong dividend yield remains attractive to NZ investors. Stride’s share price has underperformed over the last six months, trading at NZ$1.13—below key moving averages and its NZ$1.72 net tangible asset backing. However, the prevailing analyst consensus targets a price between NZ$1.35 and NZ$1.43, representing a 21% upside from the latest close. The group’s relatively low beta and a leading dividend yield of 6.9–9.1% make it a notably defensive allocation for income-focused investors in the context of New Zealand’s evolving property and interest rate environment.

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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.