Asset price would have to be downgraded by 20% or more before they would be close to reaching their 50% debt limit (thus forcing either asset sales or capital raising).
10 year bond is around 4.5%
Risk free premium 1-2% above bonds (Long wale, bluechip etc)
So based on the average cap rate of 5.25% you could expect a small valuation downgrade but nowhere 20% in my opinion.
Of course the risk is that rates need to go higher and that will affect things but there is still a reasonable buffer. If management is doing the right thing, they will be disposing of some properties to reduce debt now in a controlled fashion at or close to market value. Hopefully they confirm this at the meeting later this month.
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$3.69 |
Change
0.010(0.27%) |
Mkt cap ! $2.667B |
Open | High | Low | Value | Volume |
$3.69 | $3.72 | $3.68 | $5.726M | 1.550M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 6332 | $3.69 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.70 | 8000 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 6332 | 3.690 |
7 | 16147 | 3.680 |
3 | 29607 | 3.670 |
2 | 6146 | 3.660 |
4 | 17967 | 3.650 |
Price($) | Vol. | No. |
---|---|---|
3.700 | 8000 | 2 |
3.710 | 23010 | 4 |
3.720 | 68642 | 6 |
3.730 | 7130 | 2 |
3.740 | 20700 | 6 |
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