MGR its true have sold down at a 20% Discount from the highest...

MGR its true have sold down at a 20% Discount from the highest value point.
I contacted MGR and they quite simply said that the monies will be deployed to the profitable arena of "development subject to demand".....
I think it is a smart move, get out of what is paying a % margin within your charter to redeploy elsewhere to add additional value to share holding.
I think now is the time to buy when market sentiment is at its lowest within the property REIT sector.
I have worked with MGR as a third party in the past and they are very smart with number crunching.
Very diversified and becoming more of a diversified entity in due course.
In the GFC gearing on average for REITS was 69%. We are currently no where near that.
Demand for dwellings is huge, but man power, Gov spending on rubbish is creating a FEARFUL sentiment within society.
VIC & NSW just keep shooting themselves in the foot so until we see a change in GOV sentiment will remain so.
$2.56 for NAV as apposed to $1.965 2 days before DIV is unbelievable.
I was surprised at .06 or 5.5% as of last close before yesterday was a surprise.