RE: Drop?14 May 2026 09:35
Ignoring todays drop for now, i did a deeper dive into the company yesterday. Looks like a significant discount to NAV here (not too unusual for REIT's, but quite a bit bigger discount than most!). Difficult to ascertain why, only reason i can come up with is the pretty large debt overhang (> MCAP which seems large IMO), but that "should" be being eaten into soon in theory (although previous financial year saw an INCREASE in debt not reduction which concerns me). Anyone know what the high debt levels have been used for? Expansion?
I would be very interested in hearing other peoples more educated input on the above? So far i can't get a grip on GRI, bargain or perpetual falling knife?