Ann: GOZ FY24 Results Presentation, page-6

I wouldn't read too much into the closing price, a lot of it was towards the end of the day so I expect the VWAP for the day was still decent.

Having said that, it's evenly balanced. If you go back 10 years revenue per share growth has been modest and Cap Rates are still relatively low in historical context. And they're still shaving valuations and distributions and WALE continues to shorten.

GOZ and some others are really a yield story for lower interest rates, but assuming the economy holds up sufficiently to allow them to keep their occupancy high.

There's probably good value here unless we get a nasty surprise from somewhere but commercial property can turn ugly. Personally I'd be happier to enter if they'd trim their gearing just a little bit more.