Property For Industry, whose shares have gained 14 percent this year, is looking expensive compared to its peers, according to brokerage Craigs Investment Partners which cut its recommendation to ‘sell’ from ‘hold’. Property For Industry almost doubled in size following a July 1 merger with Direct Property Fund. The company yesterday posted its last earnings before the merger, showing an …

Financial Markets Authority chairman Simon Allen’s role in negotiating the government’s convention centre for pokies deal with NZX-listed SkyCity Entertainment Group was recorded as a potential conflict of interest, the regulator says. Allen, a former investment banker who has chaired the market watchdog since May 2011, took a key role in talks with the casino and hotel group, according to …

Goodman Property Trust, the largest property investor by market value on the NZX, expects to increase payments to unitholders by as much as 2.3 percent in 2014, and signalled further investments are likely. Pretax distributable earnings for 2014, a measure favoured by property investors as it strips out unrealised movements in property values, are expected to be between 8.2 cents …