I agree - it's a bit perplexing as to why the IDR yield doesn't get pushed down. I would have thought the risk of an IDR-type investment wasn't so disproportionately high as the SP sems to indicate. Someone recommended NVN to me as they expect the merger with FDC will produce significant benefits. But when I look at NVN it seems to be trading at a significaant premium over NTA (SP 2.52 NTA 1.97 at end Dec14). When I look at the underlying assets I can see that properties like Chatswood are capitalised at a rate of only 5% already so I would have thought even the NTA was fully priced?
But I am no expert - DYOR certainly applies!
Ann: On-market Buy Back of Securities, page-4
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Last
$2.79 |
Change
-0.010(0.36%) |
Mkt cap ! $888.3M | |||
| Open | High | Low | Value | Volume |
| $2.82 | $2.83 | $2.76 | $517.2K | 185.5K |
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| No. | Vol. | Price($) |
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| 35 | 16572 | $2.78 |
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| Price($) | Vol. | No. |
|---|---|---|
| $2.79 | 1650 | 10 |
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| Last trade - 12.09pm 04/07/2024 (20 minute delay) ? |
| DXI (ASX) Chart |