I'm reasonably happy with this and would say the new NTA of 0.93 cents is slightly ahead of my expectations. I'm actually relieved to see a substantial initial valuation hit as if they'd come out with anything less than 10 percent I don't think the market would have believed it anyway and we'd be in the same boat for another 6 months tracking sideways at a huge NTA discount. I guess we now have to work out whether we think there are further write downs to come? Personally I can't see the cap rate doing much higher than 6 percent as a worst case scenario. I'd also like to see some commentary from management in August around the timing of acquiring these 2.5 properties because as much as I think they are very good assets it's pretty ugly to cop a 15 percent write down in the first 12 months.
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36.5¢ |
Change
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Mkt cap ! $77.52M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
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---|---|---|
5 | 132336 | 36.0¢ |
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Price($) | Vol. | No. |
---|---|---|
37.0¢ | 75178 | 3 |
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No. | Vol. | Price($) |
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4 | 126336 | 0.360 |
6 | 149015 | 0.355 |
4 | 19359 | 0.350 |
2 | 30000 | 0.345 |
2 | 102323 | 0.340 |
Price($) | Vol. | No. |
---|---|---|
0.370 | 75178 | 3 |
0.375 | 46408 | 3 |
0.380 | 147508 | 3 |
0.385 | 23990 | 1 |
0.395 | 52350 | 2 |
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