re: Ann: Closes Adelaide - Announces Pasadena... I think that somewhere between 17c and 25c is "fair". I guess it depends on dividend yields (which they have trimmed yet again) and the risk you want to take on board. Ideally, if it gets to 12c again it's a buy, and if it spikes to 25c again, its a sell. Right now, a hold.
It is pretty obvious that rents will be softening within the next 12-18 months, but they still may have a few tenants they can bring up a bit here and there who haven't renegotiated.
Certainly, nothing to get over-excited about. But nothing to panic about.
Yet.
Ann: Closes Adelaide - Announces Pasadena Leasing, page-6
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