Has been a spike in trading in RCU over the last few days with about 2% of stock traded today which is unusual for this stock - also have seen the stock down 20% over the last week. Would expect some large holder exiting or some movement on the register.
Stock fundamentals: Current SP = 60cents NTA = 180cents Forecast earnings 2011/12 = 15cps with dividend ratio of 80% = 12cps. The NTA and dividends are based on dollar parity so things are looking quite healthy as the Aussie drops.
RCU's property portfolio, lease agreements etc are all healthy and they have a stated aim of bringing the SP closer to the NTA.
Could be a oportunity to pick up some cheap shares while someone is playing in or out.
RCU Price at posting:
59.9¢ Sentiment: Hold Disclosure: Held