Well done. That's an excellent entry point. You already hold around 10x more than my holding! I agree with your thinking. 29% off NTA (it can afford to drop a reasonable amount and we are still a long way ahead). and 7.1% yield. It's much better than bank interest.
I currently hold CQE. The discount to NTA is less and the dividend yield is lower. By all rights I should sell and consolidate into CLW as well. However, for some reason the unit price often seems to out-perform CLW. I find it difficult to split these REITs, but would probably slightly favour CQE if forced to choose, Both are excellent.
I still can't find the quote I was searching for regarding "capital management if the discount to NTA remains so pronounced". Perhaps it was another REIT I am thinking of. I have searched through the past year's announcements and it's not appearing anywhere. I was sure it was a CLW announcement. Oh well....!
Holders will be interested in the following short video with Avi Anger from CLW and Tom from Commsec. It is only from February this year and discusses interest rate rises and CPI rent increases.
CLW Price at posting:
$4.30 Sentiment: Buy Disclosure: Held
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(20min delay)