RE: NAV vs Share Price9 Nov 2023 07:20
I don't know where this is heading. Another 15% buyback so more control to the family. They had majority control anyway so why. A buyback when things are low can be good but I'm not convinced here. Not about the numbers but about the control side. I thought it might be to remove it from the market. There was also the threat of loosing REIT status. So I left and even after the jump in SP it's still way off.
Hopefully I'm wrong as it was the family control that was an attraction when I first bought in. I knew they would look after themselves so I could follow on their coat tails. It went well for a long time but something changed.
Whilst they are suffering from the general things that effect REITs, rate rises, debt, ltvs too much retail, companies going bust etc. Why give it the potential to loose that status or the loss of availability on the market.
I didn't want to be left holding the baby with no home to go too. Like I said, I hope my fears are wrong and that remaining shareholders will be OK on those tails but it's a risk too much for me.
Good luck all. Shall miss the divi in January thought even if it was low yielding compared to some.