You have question what would it take for the asset value to actually reflect the current unit price?
To have a 37% fall in asset value from $2.40 would need a worse recession than the GFC, even if the $2.40 is currently artificially inflated.
At worse I can't see the NTA falling more than 20% & the gearing at 35.4% isn't excessive.
It's curious how much COF has fallen compared to most REITs that aren't that much down since the interest rate rises started. And COF was already at a large discount when some were at decent premiums.
If anyone can point out why COF is suffering so badly compared to it's peers I'm all ears?
Even ECF hasn't been hit so hard & that's all offices managed by a less well known manager.
COF Price at posting:
$1.51 Sentiment: Buy Disclosure: Held
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