I have listened to the half yearly presentation by the CEO and INMHO the company is travelling along really well and it therefore surprises me that the SP is as low as it has been although it has risen a little following the Half year accounts.
I first purchased just after the GFC where it performed much better than the majority of its piers without the need to restructure and dilute shareholder equity
The div yield has fallen a little over the last couple of years largely as a result of acquisitions but the company is on track for a full year div of 7cents which gives a yield of just under 10% on current SP
Looking forward there are positive indications of increased revenue from all arms of the business and therefore increased distributions in 2013 and beyond The Company has taken advantage of the depressed market to acquire some good properties at a good price
Again IMHO this company is well managed and has proved itself through difficult times and as a result I am more than happy with it in my portfolio.When others realise its potential I am sure we will see a rise in the SP
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