I bought additional positions into the close at $1.10, fully invested now at 5% of the portfolio.
At $1.10, the share looks to be just 1c above its all time low of $1.09
COF hasn't released their December valuations, but looking at some other reits that have, there seems to be a 'tightening' up in the degree to which CAP rates are rising (ie the cap rates are rising at a slower degree), this suggests that (hopefully) that the increasing CAP rate is nearing the end of its cycle.
If this occurs, then there won't be significant future decreases in NTA, and with COF NTA currently at $1.80 against a share price of $1.10, there should a decent degree of margin of safety between the share price and the NTA.
COF Price at posting:
$1.10 Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)