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42.0¢ 360 capital reit

Ann: Dividend/Distribution - TOT, page-6

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Alee26

2,334 Posts.

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27/06/24

15:16

Post #: 74509918
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Originally posted by timbowls: ↑

Interesting that if we presume the vacant floors get leased and the 3c distribution for the year becomes sustainable this current share price brings us back to an 8% yield with the possibility of one further year of franking credits thrown in as a bit of a bonus. This is against a current (post capital raise) gearing rate of 31.1%.

The issue is the still tight cap rate of 5.3%.

Older buildings seem to be changing hands around 6% now and the the stand off between buyers and sellers has eased which is giving a bit more valuation clarity.

We potentially should factor in the high quality of these buildings and work on the basis of a 5.75% cap rate and the gearing blowing back out to the mid to high 30s?

I'd say we see the NTA drop a further 11 percent to 65 cents.

This would give us a current NTA discount of 43% or 38% if we see the NTA drop all the way down to 60c.

This is really an old fashioned "cigar butt" at this point worth more dead than alive.

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I feel your pain here, buying RE at the top has consequences.
No quick reversal here. CPI and interest rates hurt all REITs and bond proxies. Maybe yet another CR in the near future.

TOT Price at posting: 36.5¢ Sentiment: None Disclosure: Held
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(20min delay)
Last 42.0¢		Change 0.000(0.00%)		Mkt cap ! $90.13M

Open	High	Low	Value	Volume
41.0¢	42.0¢	41.0¢	$70	170

Buyers (Bids)

No.	Vol.	Price($)
1	18453	42.0¢

Sellers (Offers)

Price($)	Vol.	No.
42.5¢	30000	1

View Market Depth

No.	Vol.	Price($)
1	18453	0.420
1	9000	0.405
2	23100	0.400
3	59857	0.395
4	140000	0.390

Price($)	Vol.	No.
0.425	30000	1
0.430	22206	4
0.450	126000	2
0.455	1267	1
0.465	10067	1

Last trade - 14.14pm 17/09/2024 (20 minute delay)

TOT (ASX) Chart