Buy @ $0.165. Decided to buy back what I sold (and more) previously as it doesn’t look like it’ll hit my tgt of $0.15 or lower. Yield @ 6.424% is rather low compared to other REITs and Gearing @ 38.5% is still on the high side.
With the stronger A$, hi chance the next DPU (Sep09) will likely be higher than the proforma figures. With the recent rights issue and CPPU (kind of like Convertible Preference Shares) issued to F&N in exchange for Alexandra Point, FCOT is now a lot more attractive to me for longer term hold.
But, mkt looks weak and it may drop further for me to buy some more. Seller ’17’ – CIMB and ’20’ – Phillip. 😀
17:05:01 0.165 631,000 Sell Down (Don’t know how come mine got 2 diff sellers!)
16:59:48 0.165 6,000 Sell Down
16:59:33 0.165 7,000 Sell Down
16:59:22 0.165 50,000 Sell Down
16:59:13 0.165 306,000 Sell Down