April 2014? What Gives?, page-4

I think it comes down to AJD being a simple dividend play. It's not likely to throw out any suprises in terms of growth. They are basically sitting there collecting rent (and inflation rental growth). With the main question being the security of those earnings (performance of NXT), which I think most people would deem pretty secure.

The share price of AJD is mostly going to be influenced by the relative returns elsewhere. As interest rates dive people move into your Banks, Telstra's, AJD's because at the current time it reflects a good, steady, predictable rate of return which is reasonably secure. People actually start paying a premium for those earnings (share price rises).
But likewise, when the economy improves, interest rates go up, and there is much greater returns elsewhere (capital growth), people will move back out of them again and their prices will lose that premium.