I find the hedging rates a bit hard to read. The quoted hedging at 30 June 2022 is still 55.9%. Does this say anything about the length or level of the hedge?
If it meant that debt was 55.9% hedged at current rates for the term of the loan then you might conclude that 55.9% of debt is simply at a fixed rate for the term. I presume "hedging" is much more nuanced and could include any arrangement to cap increases - even at a slightly higher rate than now?
Lower for longer interest rates mean we haven't had to worry too much about the measure of hedging. But now I wonder whether we can really tell much at all from the quoted figures?.
Incidentally, I notice Credit Suisse has dropped its target for COF from 2,27 to 1.90 (-16%) according to one report I get. Another source suggests that the FactSet consensus is $2.02. These are probably just consistent with what we are already seeing in the market. Not much you can do with these except that they may also confirm a view that we may be in for an NTA decrease as cap rates increase?
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Last
$1.19 |
Change
0.015(1.28%) |
Mkt cap ! $707.8M |
Open | High | Low | Value | Volume |
$1.18 | $1.19 | $1.17 | $527.8K | 446.9K |
Buyers (Bids)
No. | Vol. | Price($) |
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2 | 39066 | $1.18 |
Sellers (Offers)
Price($) | Vol. | No. |
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$1.19 | 3540 | 1 |
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No. | Vol. | Price($) |
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2 | 39066 | 1.180 |
4 | 29728 | 1.175 |
7 | 56884 | 1.170 |
3 | 25667 | 1.165 |
10 | 42292 | 1.160 |
Price($) | Vol. | No. |
---|---|---|
1.190 | 3540 | 1 |
1.195 | 4375 | 2 |
1.200 | 31000 | 2 |
1.205 | 16000 | 1 |
1.210 | 18000 | 1 |
Last trade - 16.10pm 12/06/2024 (20 minute delay) ? |
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Last
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Change
0.015 ( 0.46 %) |
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Open | High | Low | Volume | ||
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