Does anyone know if income (rentals) is more than covering interest ? Say 2x. LVRs are one thing, but if earnings are not covering interest, we are stuffed.
And on a more general note, no one is coming in and buying REITs, some like ILF with NTA 20x spare price. Why ?
Even if a fire sale meant the NTA was 50% out. That is about 25c a share. Why not close up shop and return funds to the shareholders ?
Something just does not add up.
