Asset price would have to be downgraded by 20% or more before they would be close to reaching their 50% debt limit (thus forcing either asset sales or capital raising).
10 year bond is around 4.5%
Risk free premium 1-2% above bonds (Long wale, bluechip etc)
So based on the average cap rate of 5.25% you could expect a small valuation downgrade but nowhere 20% in my opinion.
Of course the risk is that rates need to go higher and that will affect things but there is still a reasonable buffer. If management is doing the right thing, they will be disposing of some properties to reduce debt now in a controlled fashion at or close to market value. Hopefully they confirm this at the meeting later this month.
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Last
$3.53 |
Change
0.030(0.86%) |
Mkt cap ! $2.544B |
Open | High | Low | Value | Volume |
$3.50 | $3.53 | $3.47 | $1.353M | 386.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
18 | 46456 | $3.52 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.53 | 44799 | 55 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
18 | 29650 | 3.520 |
19 | 27435 | 3.510 |
19 | 58729 | 3.500 |
17 | 74468 | 3.490 |
14 | 37938 | 3.480 |
Price($) | Vol. | No. |
---|---|---|
3.530 | 44971 | 53 |
3.540 | 69562 | 22 |
3.550 | 33563 | 15 |
3.560 | 202077 | 13 |
3.570 | 20022 | 7 |
Last trade - 13.56pm 23/07/2024 (20 minute delay) ? |
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