Using the Dexus sale as the only transactional evidence for Office is fairly 'one-eyed'.
Sydney CBD is an underperforming market, with the highest rents nationally. And the 2 year WALE is a problem (probably why Dexus has selected this as 'non-core').
Could point to the AOF sales over FY23 (all in line with book values, and in Feb-23 at a premium to book). Or recent sales by COF weren't a disaster Chuck's analysis (and comaprison to other listed peers) is more broad based.
I would also add that I think Quintessential purchased this one? They are very shrewd investors - great track record. If they are buying it was truly undervalued.
Using the Dexus sale as the only transactional evidence for...
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Last
40.0¢ |
Change
-0.010(2.44%) |
Mkt cap ! $84.96M | |||
| Open | High | Low | Value | Volume |
| 41.0¢ | 41.0¢ | 40.0¢ | $170.9K | 425.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 257594 | 39.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 40.0¢ | 153 | 1 |
View Market Depth
| Last trade - 15.10pm 06/05/2024 (20 minute delay) ? |
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Last
40.0¢ |
Change
-0.010 ( 2.44 %) |
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| Open | High | Low | Volume | ||
| 40.5¢ | 40.5¢ | 40.0¢ | 53956 | ||
| Last updated 15.32pm 06/05/2024 ? | |||||
| TOT (ASX) Chart |