GDI 1.61% 61.0¢ gdi property group

What am i missing?, page-2

  1. 1,189 Posts.
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    I'm also watching this one Grandmaster. I'm heavily into A-REITS due to my tax circumstances (I can't claim franking credits). I keep a list of around 30 A-REITS and regularly update a spreadsheet with financials like EPS (both statutory and FFO), DPS, Payout ratio, NTAB ratio, gearing, interest cover, cap rate, WALE, etc.). I then weight those to calculate a score of "investability".

    As a matter of fact GDI comes out on top, number 1. If my figures are correct here are the stats for GDI:

    EPS (stat): can't find this figure but I use EPS (FFO) anyway.
    EPS (FFO): 8.2c
    DPS: 7.5c (for 2015)
    PE (based on FFO): 10.6
    Div. yield: 8.6
    Payout ratio: 90%
    NTAB: 93c
    Gearing: 35%?? (estimate)
    Interest cover: 5.9x
    Average Cap. Rate: 8%
    WALE: 3.3 years

    Of all the above figures, the only concern I have is WALE being a bit low (just a slight concern). I don't currently hold any GDI because I am quite unfamiliar with its operations, but based on the above stats and my weightings for those stats it beats all my favourite A-REITS like FET, TIX, ANI, DXS, GPT, and IDR. I will probably add some GDI to my holdings shortly.

    I would also appreciate any insights into GDI and comments on my analysis from HC members.
 
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