If Centro hadnt uttered the words "capital transaction", where do you think the unit price would be today given the following events have occurred lately:
- Property Sales in US for the Dec09 half year at slightly above book value - 1/3 of equity hedges closed out - About A$550m of debt refinanced in last month. No major refinancing to be done for remainder of 09/10 - PWC now included in class action. Claim against CER diluted - Centro's tenants and retail sales in US performing well of late - Occupancy rates stabilised at 91% since March 09 - Profits can be unlocked in full from CSF - CER now trading at a P/E ratio of 2 using underlying profit as the denominator - REIT index in the US at a 14 month high http://www.google.com/finance?client=ob&q=INDEXDJX:REIT
If I were a betting man a few months back I would have done my dough as I would hve said slightly higher than 15c :-)
CER Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held