i originally bought HMC post float at $3.70 and a few more on 23rd March at $1.37 when the market dipped, they pay FF divs. Did not participate in July SPP at $2.88, had other priorities but in hindsight i should have bought a few more. My mistake.
HMC will spin out DNR ( Daily Needs Reit ) on a 1 for 2 basis ( 1 DNR for every 2 HMC ) , valued at $1.33 a share, will also do SPP at same price.
HMC price will drop when they do their capital reduction, but not sure exactly by how much. Could be a buy opportunity !
DNR will pay divs but i assume no franking ( property trust). So i will buy some more to get the yield. SP should improve as Covid-19 dissipates.
HMC - i also think their business will improve as Covid-19 dissipates, so i will buy more at the post spin out price and hold for improved SP & FF divs.
Overall a win win situation. This is my reading of the deal and happy to be corrected.
HMC Price at posting:
$3.60 Sentiment: Buy Disclosure: Held
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