I had a look over this company after it was mentioned in the AFR this weekend.
There's a lot to like, but I agree with you about the CapRate. I just can't figure out how it's come down so far whilst rates are going up. Sure, there was some expectations that rates would drift lower, but that seems over-factored in even before that likelihood fell away.
Is there significant development value in a large portion of the land perhaps? Any other reasonable explanations?
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Last
$1.16 |
Change
-0.035(2.94%) |
Mkt cap ! $1.517B | |||
| Open | High | Low | Value | Volume |
| $1.15 | $1.18 | $1.14 | $1.143M | 986.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 7080 | $1.15 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.17 | 4610 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| ASK (ASX) Chart |