Well said.
Anyone can overpay to win an auction. Discipline is hard.
$280m before transaction costs is a massive price / sub 5% yield with only ~2% NOI growth in a market where cap rate cycle has already peaked as rates rise. Just take a look at the A-REIT index performance recently:
As of: Feb 16, 2018
Daily Performance
Index Level 1 Day MTD QTD YTD
Total Returns
S&P/ASX 200 A-REIT (Sector) (TR)
43,525.42 0.20% -4.64% -7.77% -7.77%
Price Returns
S&P/ASX 200 A-REIT (Sector)
1,284.63 0.20% -5.41% -8.56% -8.56%
Net Total Returns
S&P/ASX 200 A-REIT (Sector) (NTR)
3,151.36 0.20% -4.84% -7.98% -7.98%
Ann: AJD agrees terms on sale of portfolio at $280 million, page-17
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Last
$14.34 |
Change
0.090(0.63%) |
Mkt cap ! $9.183B | |||
| Open | High | Low | Value | Volume |
| $14.28 | $14.45 | $14.19 | $30.38M | 2.118M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 184 | $14.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $14.41 | 36650 | 5 |
View Market Depth
| Last trade - 16.10pm 26/06/2025 (20 minute delay) ? |
| NXT (ASX) Chart |