Napier Port has a special place in my heart. When I was a boy I used to go there with my sister and father most Sundays for an ice-cream. I used to imagine what sorts of things came in from the port and what sorts of splendid things went out.
Well come 2021 I own a very small part of it. Always wanted to. My dead Dad would be proud!!
Well what are some of the details.
From NZX.com
Fundamental
| P/E | 0.000 |
| EPS | $0.000 |
| NTA | $1.740 |
| Gross Div Yield | 3.439% |
| Securities Issued | 199,875,937 |
As you can see from the chart above the share price has been trading since #covid19 hit of $2.52 and a high of $3.90. What has been interesting is that it has bounced around a bit but hasnt got below $3.14.
I recommend buying now at between $3.15 and about $3.20 because the share price should hold up because the so call "wall of wood" will generate the bucks for 10 years at least.
There is only two exceptions i would look at.
The company is carrying a lot of debt. I say that because its roughly at 25% of net assets. A counter to this is that is 55% owned by the Napier City Council so it is never going to go broke.
The second is the company does not have a lot of time under it belt as a public/private entity - about 2 years - so hasn't really established yet a good pattern of trading in public.
I have bought a few and will buy more as and when they reach my sweet spot.
DYOR.
Shareinvestor 2021
