valuation

According to the reports 45C dividend will be maintained over the next 2 years after which it will be equal to 75% EPS. This is double digit EPS growth over the next 2 years. EPS 2008 should therefore be around 60 CPS.

I have tried to put a valuation on this stock in the past given P/E and Div Yield. According to Westpac, the P/E ratio for Financials in the ASX300 is 13.43. Given 60 CPS, this equates to $8.06. The average dividend is 5.10%. This equates to a share price of $8.82.

Its a bit hard to compare to others though. What would a good P/E ratio or yield be for a mortgage trust? Any others out there?

Anybody got a rating on this stock from brokers of some sort? Westpac has nothing.