It is true that more and more people will be WFH, but remember most of cof’s assets are on the outskirts of the cbd and they are in high demand at the moment.
I think WFH is over rated, the decline in sp correlates with other reits as well, the sentiment is negative towards reits at the moment due to concerns surrounding rising interest rates, rate compression not going to continue hence all asset valuations will be tested.
All these concerns are legitimate but that’s why Cof is trading at this yield and also 10% discount. The risks are more or less
priced in.
just look at the recent sells in south Yarra and south Melbourne and you can see the demand is still there for offices. 11 Wilson st in south Yarra which is a fully leased office building was recently sold to a German fund for 75m at 4.5% yield.
I will never buy Cof at $3 when it was trading at premium and low yield …. But now with most risks priced in, it looks attractive
It is true that more and more people will be WFH, but remember...
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Last
$1.26 |
Change
0.005(0.40%) |
Mkt cap ! $748.1M | |||
| Open | High | Low | Value | Volume |
| $1.25 | $1.26 | $1.24 | $522.1K | 417.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 71 | 14950 | $1.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.26 | 31777 | 27 |
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| Last trade - 13.14pm 18/09/2024 (20 minute delay) ? |
| COF (ASX) Chart |