These NTA values are only really relevant if you plan on buying...

These NTA values are only really relevant if you plan on buying the whole thing, selling its assets and winding it up.

Unless you or someone else does that, there is no way of realizeing the value inherent in the supposed NTA.

The return from an investment point of view is the net present value of the distributions/dividends you expect it to pay.

Right now, the combination of higher real interest rates, some risk of rental decline or default, difficulties with creative refinancings, and obvious difficulties with dealing and churning the assets, makes future earnings and potential distributions more uncertain.

Thats why all of these dodgy property stocks look "cheap" and what makes some determined sellers pretty determined to offload them at cheaper and cheaper prices.

I have been buying lots of these stocks for a few weeks now and losing money on all of them.