Just following on from my post yesterday CDP hit a new yearly low today at $2.65. Probably the easiest way to determine a REITs value is to examine the good old fashioned bricks and mortar value. The fact that CDP peaked at $9 and is trading at the same price as it was in 2004 should give you a clue its pretty cheap.
But lets check out the two retail based REITS SCG and VCX who derive up to 40% of their revenue from Victoria.
SCG is trading around 61% of its NTA of $3.66.
VCX is trading around 62% of its NTA of $2.29.
CDP is trading around 43% of its NTA of $6.33.
OK I get it - CDP is a one trick pony owning half one shopping centre as opposed to a portfolio but regardless of how you slice it or dice it at the end of the day you are still only paying 43 cents in the dollar for prime commercial property.
Where is Geoff Wilson and Andrew Clifford? The kings of value investing should be backing up the truck on this one!!!
Just following on from my post yesterday CDP hit a new yearly...
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Last
$4.20 |
Change
0.000(0.00%) |
Mkt cap ! $332.9M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 705 | $4.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.30 | 5000 | 1 |
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