consistantly sold down, page-15

Hello reggiemiller,

Something odd is happening in the market. Most of the property stocks' SP are falling and getting closer to being equal to amount of estimated dividend/distribution for FY 08/09. The sellings are being performed by institutions so analysts must know something that I don't.

Does it have something to do with the gear level? Perhaping the weakening of the $A resulted in an increase in gearing level and reduction in buffer against banking convenant requirements. Perhaps, they are predicting that recession will cause more vacant properties and therefore property stocks will not meet their EPS target.

I don't understand what is happening. Perhaps you and others can offer a more educated explanation.