I had a look over this company after it was mentioned in the AFR this weekend.
There's a lot to like, but I agree with you about the CapRate. I just can't figure out how it's come down so far whilst rates are going up. Sure, there was some expectations that rates would drift lower, but that seems over-factored in even before that likelihood fell away.
Is there significant development value in a large portion of the land perhaps? Any other reasonable explanations?
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Last
$1.20 |
Change
-0.005(0.41%) |
Mkt cap ! $1.580B | |||
| Open | High | Low | Value | Volume |
| $1.21 | $1.21 | $1.19 | $443.8K | 369.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 22 | 33871 | $1.20 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.21 | 13495 | 19 |
View Market Depth
| Last trade - 15.37pm 27/05/2024 (20 minute delay) ? |
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Last
$1.21 |
Change
-0.005 ( 0.79 %) |
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| Open | High | Low | Volume | ||
| $1.21 | $1.21 | $1.19 | 212320 | ||
| Last updated 15.57pm 27/05/2024 ? | |||||
| ASK (ASX) Chart |