agree Smurph. I have always looked at NXT as being a Technology Infrastructure stock and when they bought back the physical properties they effectively became a Technology Infrastructure and Property Company with significant real assets. Despite what people say they are not a Tech stock and can't just be valued at a multiple of revenue or earnings. They could easily sell the buildings and retain the business within and be more leveraged to the growth in business revenue, but being the landlord as well does give them more certainty. With cheap funding it has also worked out that the interest will be less than the rent. This may change in the future depending upon where property prices land.
I have been an owner since very early and have added more and more over the years, so i am happy and have no intention of selling. At times they are frustrating to watch as they really are incredibly slow to build, fit out and then get the utilisation rates up.... but that is the nature of the beast. But they spin some serious cash when complete !!
NXT Price at posting:
$11.41 Sentiment: None Disclosure: Held
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