Hi Bmac,
NTA stands for Nett Tangible Asset or in other words if all properties were sold (at valuation) and debt was repaid, this would be the actual value of each share in cash.
I actually came up with a formula for investing in REITs which goes as follows:
Divide the NTA ($0.96) by the share price (0.62) which gives you a figure of 1.548. Stack this up against other REITs such as GMG/GPT/MOF/MCW etc and they have a lower figure as the NTA to SP ratio is lower. When you look at AEU, ILF etc it has a higher ratio.
There are other factors such as debt levels and future growth potential that need to be looked at, but I think that this is a simple was to assess where value is in the REIT sector.
Please DYOR
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