Shares of CDL Investments New Zealand (ASX:CDI) have seen a rise of as much as 1.9% to NZ$0.790, achieving their highest rate since July 26 of this year.

The stock marks their third consecutive session of gains.

The company, a seller of residential land properties, anticipates a moderation and improvement in market and consumer sentiment over the remainder of 2023 and into 2024.

The firm maintains optimism regarding an increase in sales during the second half of the year.

However, the company reported a half-year operating profit after tax of NZ$5.02 million, a decrease from last year’s profit of NZ$22.90 million.

Despite this, the stock has seen a rise of 2.7% this year as of last close.

CDL Investments New Zealand is a real estate company specializing in residential land properties, with optimism for increased sales.