Property Stocks Down Under 24 August 2022: Newmark Property REIT (ASX:NPR)
Newmark Property REIT: Another landlord of Bunnings
A few weeks ago, we looked at Australia’s largest Bunnings landlord, BWP Trust (ASX: BWP). For over 20 years, BWP was the only pureplay Bunnings landlord on the ASX, but Newmark Property REIT (ASX:NPR) joined it late last year. After listing at $1.89, it has lagged for much of the year, but has rebounded in the last few weeks. Is it just moving with the market, or was there something in its recent results that investors liked?
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