I took this excerpt from PTN's Dec half guidance issued a couple...

I took this excerpt from PTN's Dec half guidance issued a couple of weeks ago.
I expect a similar outlook regarding property valuations for most REIT's. After going through the pain of substantially writing down valuations last year, most property related stocks should have a decent run this CY.
MGR WDC WTP and FKP are my preferences in the sector.

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An important component of the Trusts financial results is the change in property values of its retirement village properties. In FY09 a decrement of $191.695m was applied to the book value of the Trusts properties. The Board has now received preliminary advice from an independent valuer of four properties (accounting for one third of total core property values) that indicate that no significant change in valuations will occur from current book values for the period.
Accordingly, subject to finalisation of these valuations and a review of external developments no significant adjustment to carrying values is expected and the earnings for the Trust is expected to be a small operating loss for the six months to 31 December 2009. This will compare favourably to the loss of $91.2m reported for the 6 months to December 2008.
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