One would think the AJD situation would not be any cause of...

One would think the AJD situation would not be any cause of weakness.

It makes no difference to NextDC who the landlord is, they are locked into honoring leases for as long as NXT wants to remain in the properties.

You need to remember who authored those agreements - when NXT spun AJD off they were only ever going to produce leases which were favourable to themselves, far more than the REIT. They certainly would not have left themselves with any weaknesses when it comes to their rights over the data centres or changes which could be made to the agreements.

Various "advice" columns will prattle on about it being an issue, but they just take the obvious thing from the last announcement as a cause for anything that happens - you don't want to invest any effort in research, that costs time!. The instos love this situation - a CR always makes people look twice, and a bit of controversy such as some news gives them the opportunity to press the sp down with some serious shorting to try to rattle retail holders out for cheap.

They used the Air Trunk thing the same way in 2016, and yet it was obvious to all that the effect they would have on NXT would be minimal - they provide a very different service.

We will find out all soon enough - and I hope that I am wrong (although with the thought of some cheap shares ..... maybe I don't!), but the timing is perfect with tax selling coming up, a nice little bit of meaningless controversy and a CR - I reckon they won't be able to resist.