I've been buying into AAZPB over the past couple of days, after running the ruler over them. Current running yield of 15.4%, which is a hell of a lot better than bank interest.
AAZPB is much lower risk than MXUPA, as the board have publicly stated that they keep paying out the distributions on the hybrids; whereas the situation at MXUPA isn't as clear. I also like the low gearing for the parent company ALZ, and their business model which doesn't rely on the higher cost apartment developments, but rather the lower cost suburban housing.
The sell side has almost disappeared now, and i can easily see a push into the 60's as we get further towards the distribution date.
ALZ Price at posting:
42.7¢ Sentiment: Buy Disclosure: Held
