I would read a different perspective; I agree with gragou that...

I would read a different perspective; I agree with gragou that $2.63 seemed a premium price for ARF. If it finishes the FY at $2.45, that would be a healthy rise from the $2.25 it ended the last FY - especially as we've had no material announcements this year. Slow and steady with this one is what I'd be happy with. Projected dividend growth will continue to lead to appreciating share price over time.

My take: The move into the $2.60s happened at a time when the rest of the market was having a particularly bad run, money may have flowed into ARF as a defensive place to park a buck. 

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Back to my first paragraph; part of me is disappointed not to see any plans for acquiring new assets, as one of their plans was to continue to build health care portfolio this year. However, now I'm thinking that I like the coy's discipline, if nothing else, a year of no acquisitions = stronger books heading into FY 20. Back to gragou mentioning takeover; well - I guess the lower the level of gearing, will make it harder for anyone to pick us up cheap.