But what was CER nav/nta then and now?
At 6c EDT is trading at more than 50% of NTA. Sure its still at a discount to 11c, but its not cheap. Their are plenty REITs and others trading at substancial discounts.
You wouldnt imagine in this market, or anytime soon, that a stock like EDT could trade at or near NTA.
Having said that, NTA will likely rise in coming 12months as property valuation rise and vacancies drop. Particularly if they sell ex Mervyns assets at a good price.
But with 4bil units out their, even $100mil in writeups will only increase NTA by 2.5c
Its certainly not cheap, its a buyers market, but seems like a worthwhile punt medium term. After all, not much downside risk now? Balance sheet improved and a corner stone investor who will support any debt issues.
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