no cap. raising,thinking the reinstatement of drp may help consolidate,it was clearly stated the objective was to exit from o/s markets becoming an aus reit trust,the move o/s was opportunistic , the speed of the decline in world markets they said took all by surprise,funding is still difficult at very high margin of 300 to 400 basis points on libor rates,pretty amusing when you look at our domestic r/e finance at 3% ,so anyway back to mof if rates come off it will make asset sales much easier thru improved funding,remember the usa assets were largely purchased prior to major lift in usa the r/e sector, so just guessing sales might be at small discount to book ,which will be more than offset with reduction in finance costs which are currently at high margin
if drp is back then just a guess here ,will there be an increase to distributions in the next 12 months,i hope so then sp might move closer to alignment with div.
still debating trading versus holding will probably run with the drp,would enjoy a lot more of these
MOF Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
