New Zealand Rural Land Company Limited
NZL.NZ
New Zealand Exchange0.94
NZD
- -
- -
New Zealand Rural Land Company Limited
NZL.NZ
(New Zealand Exchange)
Recent
price
0.94
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Similar Companies
- Business
- New Zealand Rural Land Company Limited (NZL.NZ) is a New Zealand-based real estate investment company that acquires, owns and leases high-quality rural land to experienced tenants under long-term leases, focusing on sectors including dairy, forestry, horticulture, viticulture, poultry and green energy without engaging in on-farm operations. The company, founded in 2020 and headquartered in Wellington, controls a portfolio of approximately 17,077 hectares of fully tenanted farmland and forestry properties across regions such as Canterbury, Hawke’s Bay and Manawatu-Whanganui, generating returns through CPI-linked rental income and land value appreciation. Its core offerings encompass leasing prime dairy farmland to leading operators; forestry estates totaling around 2,307 hectares in the North Island to tenants including New Zealand Forest Leasing and MM Forests; horticultural assets such as apple orchards and kiwifruit properties leased to Kiwi Crunch with yields averaging 7.8% and terms up to 30 years; and selective opportunities in sheep and beef, viticulture and emerging green energy applications, supported by a rigorous tenant selection process and sustainability programme mandating low-carbon practices. In recent developments, NZL sold a 25% equity interest in its portfolio to Roc Partners in February 2024 for NZ$44.2 million, enabling repayment of convertible note debt, funding of orchard and additional forestry acquisitions totaling 2,606 hectares for NZ$34.9 million, and co-investment arrangements for future growth; restructured its debt facilities in December 2024 into a NZ$140 million syndicated agreement with Rabobank and Bank of China, lowering the weighted average cost of debt and gearing to 29.8%; implemented CPI-linked rental increases of 18.6% on 37.3% of the portfolio in mid-2024 and further hikes through 2025 boosting total lease value by 7.6%; acquired a 305-hectare Canterbury dairy farm in March 2025 for NZ$15.5 million via asset swap, enhancing annual rental income by NZ$290,000; and maintained 100% occupancy with a weighted average lease term of 12.3 years across nine tenants while reinstating dividends at 4.00 cents per share for FY24 and continuing an on-market share buyback programme. NZL operates exclusively in New Zealand, managed by New Zealand Rural Land Management Limited Partnership, with 75% ownership of the portfolio limited partnership alongside Roc Partners following the 2024 transaction.