Buy @ $1.85, $1.845
A new stock to my portfolio.
- Yield = 5.924% (FY13 – Sep) is lower than my usual target.
- Gearing = 27.6% is within my more attractive range
- NAV = $1.77, a premium at current prices, whreas other Mall REITs are mostly at a good discount
The main attraction from their results Presentations released last night was their track record of increasing DPU since listing,
- FY13 : 10.93ct (+9.2%)
- FY12 : 10.01ct (+20.3%)
- FY11 : 8.32ct (+1.5%)
- FY10 : 8.2ct (+9.2%)
- FY09 : 7.51ct (+3%)
- FY08 : 7.29ct (+11.3%)
- FY07 : 6.55ct
​My plan is to keep for longer term, assuming they're able to maintain their track record…. 😀