Good advice. I'm actually very surprised they almost met...

Good advice. I'm actually very surprised they almost met guidance - was expecting a 10% miss. So now with franking credits in my tax free super fund the yield is 10.6% - pretty tasty and a good place to hide if and when the US markets tanks and we follow. Guiding 20% increase in NPAT so the way I value it is 10.6% div now + 12.5% div in 2019 + 20% SP appreciation in 12 months......43% potential over 13 months.
In respect of governance issues I will be asking directly what they intend to do with the St Kilda centre they own and if Mayfield will be used again as the ATM machine. On the positive I must give them credit for the cost control and tight staff rostering. They have proved themselves to be very capable operators in a challenging market and bodes well for the future in the roll up model. Easy to build centres, not so easy to operate them profitably as newbie operators are finding out. May even be distressed centre opportunites for Mayfield coming up ?