The one result that we can all predict is for sure, is every year sees a decline in FFO and DPS. Reliably dribbles down. But fortunately for the slide deck, the share price seems to tank by a similar 10-15% every year, so in one sense, the headline yield stays the same (-15% NTA, -15% distributions). Which maintains their "attractive yield". I'm hoping to exit on any SP strength.
For me, the most interest part of the results deck was the potential 10,000spm lease at Docklands as the data centre. It did seem a bit weird to convert an office block to a data centre. But i suppose there must be some benefit for the tenant to have CBD location? But that lease alone is 3.6% of portfolio... so it would be back to ~96%.
COF Price at posting:
$1.21 Sentiment: None Disclosure: Held
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