as i predicted in an earlier thread, this abusive transaction never got close to being consummated and the alternative is obviously far superior for all URF shareholders. this should trade at some smaller discount to NAV - a NAV now unencumbered by ongoing negative cashflows (as the pro-forma entity is clearly quite AFFO positive); and will accrete value through buybacks at a discount. yes the portfolio prob gets marked down a bit given the move in rates, but rents are still going up aggressively so this doesn't seem hugely negative for now. debt funding is of course locked in and now deeply in the money (what a difference 4 mos makes).
i expect the force of buybacks alone to drive this to high-30s, absent a total market blow up, by year end. i bought more shares this morning.
Ann: URF Monthly NAV, Buyback, CPU and US Platform Update, page-4
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Last
28.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $201.1M | |||
| Open | High | Low | Value | Volume |
| 28.5¢ | 29.0¢ | 28.0¢ | $77.00K | 271.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 25000 | 28.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 29.0¢ | 106790 | 3 |
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| Last trade - 13.51pm 05/07/2024 (20 minute delay) ? |
| URF (ASX) Chart |