The property trusts Kiwi Income and Goodman Property have both recorded a significant drop in net profit for the past six months, while DNZ Property Fund has posted a large increase.
The three organisations have released their results for the half-year to September 2014.
Sylvia Park owner, Kiwi Income, has posted a 61.6 percent fall in net profit to $ 23.8 million.
It said that is because the previous six months included a one-off deferred tax benefit and a favourable fair value change to interest rates.
Goodman Property, which counts several buildings in Auckland's Viaduct in its portfolio, is blaming its 8 percent drop, to $60.2 million, on a decrease in the value of the Trust's interest rate swaps.
DNZ, whose assets include Queenstown's Remarkables Park development, said its net profit has increased by nearly 41 percent to about $26 million.
It said that is because of good gains in leasing and better cost management.
Goodman Property's chief executive, John Dakin, said he expects a stronger bottom line in the next six months. He said the property sector is performing well in New Zealand.