Second, I see two valuations for PLG as of the FY, 30 June: an NTA of $1.04 and a book value of $1.05, and: a Morningstar "Current" book of $1.05, with a "Fair Value Estimate" of either $0.998 which they round up to $1.00. So, a $1.05 is my takeaway.
Third, a bit on the new kids on the block, ESR Australia:
Interesting that footnote 1 on p. 2 states ESR's $1.15, (caps mine) offer "will be reduced by the amount of any distributions that PLG securityholders become entitled to receive AFTER the date of this indicative proposal." The latest distribution was paid Tuesday 4 September 4.
Questions: How deep are ESR's pockets? What other A-REIT might come calling to set the field for a Bidding War? What other REIT, public or private, from overseas has looked up and taken notice?
Finally, see point one.
OV
PLG Price at posting:
$1.14 Sentiment: Buy Disclosure: Held
