I think this lot is about to go through the $5.00 mark. Good stock with high dividend and fully franked dividend return is over 20% growth. Have a look at return to shareholders over 10 years . I suspect the price surge is due to a new site for development in the wings . Keep a good eye on this one.
Quite an incredible performance - never heard of this stock before, but the financial performance of the entity speaks for itself.
I wouldn't be rushing in without thinking guys - you would want to be a continued bull on the real estate market in Perth. Money flowing from real-estate development have sharp peaks and troughs - we are in the good times now, but there are certainly critics out at the moment on where the market is going to go. Also be aware that all property developers will use the joint venture and associate entity cheats to hide gearing, receivables, losses, etc. From a fundamental perspective, I would say profit good, but just watch out for impairment on the receivables - over $56 Mil, which is greater than net assets - not too much depth mentioned on them in the latest annual report either!
Technically, looking good - good close today on medium volume. Resistance lies at 5.30 but I like the heavy volume on the 8th of December 06 - there is still some interest here. I say watch for a break of $5.30. + interim dividend is a yield of about 7.5% after franking, so plenty to watch for here!
Do not hold this stock currently, thinking of for the div yield, although it has just been released last week. Why has this price dropped by 1/2 over last 6 months? Does it have anything to do with the release of 92mil worth of shares?
Port Bouvard's development were very successful in the past. No doubt they will be doing the same with the next project. There may be some time between the start and seeing some return. But in the past the returns have been good.
Personally I think the property market in and around Perth still have some time to run. Even if it is not at the same rate as before.
Considering a 4 for 5 rights issue the price is very strong.