This argument has been carried for as long as this thread has existed. (Suggest serious investors read the thread from start to finish)
Firstly the underlying property is residential, so yields will never be high. Secondly the preference shares are trading significantly under par. So upon conversion (worst case scenario) the conversion occurs at par not the current share price of the preference shares.
Thirdly because the underlying portfolio is in turn around, using historical numbers is irrelevant.
But again, whilst others debate, I am making money.
URFPA: Now a speculative buy, page-86
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28.5¢ |
Change
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Mkt cap ! $201.1M | |||
| Open | High | Low | Value | Volume |
| 28.0¢ | 28.5¢ | 28.0¢ | $135.9K | 480.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 79468 | 28.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 28.5¢ | 112008 | 2 |
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