Klutch - you are correct. As a long term shorter I have felt the pain of every manipulative announcement!
Singapore operations are a drop in the ocean.
Occupancy is as high as is sustainable. The company is fully leveraged so every single purchase now requires an equity raise plus a debt draw down. The DPR is already 1 so they can't raise the dividend faster than EPS growth. Current prices extrapolate the 220% increase in DPS over the last 12 months which is obviously completely unsustainable. PLUS - margins are now falling due to debt.
yielding 3.6% (with 0% sustainable growth rate) no thanks i'll take double that on a non-Ponzi scheme elsewhere on the bourse.
GEM Price at posting:
$4.26 Sentiment: Sell Disclosure: Not Held
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