Gearing seems a little high I agree,
scenarios,
Sale of assets,
Higher cash returns,
Cap raising,
Some or all of the above.
I would expect future Div to decline to reflect cash earnings until scenario plays out.
An NTA 1.40 BJT still seems good value at current SP.
I continue to hold but diversity is key.(inc cash)
Cheers,
P.
BJT
babcock & brown japan property trust
