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
$3.43 |
Change
-0.040(1.15%) |
Mkt cap ! $2.479B |
Open | High | Low | Value | Volume |
$3.48 | $3.51 | $3.43 | $4.953M | 1.434M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 7066 | $3.43 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.44 | 17901 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1729 | 3.430 |
5 | 19367 | 3.420 |
5 | 32516 | 3.410 |
19 | 63088 | 3.400 |
8 | 11792 | 3.390 |
Price($) | Vol. | No. |
---|---|---|
3.440 | 17901 | 3 |
3.450 | 32451 | 6 |
3.460 | 11341 | 2 |
3.470 | 3259 | 1 |
3.480 | 9894 | 2 |
Last trade - 16.10pm 24/06/2024 (20 minute delay) ? |
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