Nick185, you may be slightly overly negative on this report. EBITDA has improved significantly from (6.9) in 2018 to 4.0 in 2019. With the new management on board for only the last 4 months of 2019, and the cost cutting measures they have undertaken, I expect a much better EBITDA for 2020. Also, construction is expected to finish in the next few months for the remaining 6 properties. This will bring in extra revenue either via rents or asset disposal. Admittedly I was expecting a reduction in the Responsible Entity and Admin Fees and am disappointed to see that the Australian arm of the G&A has gone up also. Overall I think it is more positive than I expected and they are on the right track. As always stated by myself and others, the original premise of buying US property in this area was sound. On paper at least, and with time, it should realise its NTA (which at this point I would take gladly if we get anywhere near that)
URF Price at posting:
41.0¢ Sentiment: Hold Disclosure: Held
(20min delay)