Crude numbers from the report: $2 billion in debt means $20...

Crude numbers from the report: $2 billion in debt means $20 million a year in interest payments a year for every 1% increase in interest rates. Interest is currently costing about $80 million a year (up from around 40 million in 2022), however rent increases are increasing income by about $20 million per year also.

In other words so long as interest rates increases remain in the 0.25 range, CPI linked rent increases will cover the increased cost of finance. I guess this is why they released forward guidance of 28c distribution again.

It's a funny one where inflation data both hurts and helps this stock. I think as a long term hold this one is a no brainer but it certainly will see volatility. I'll be buying more around 4.4, holding at 4.6 and reducing at 4.8