at least there is working capital to reduce debt or improve asset ,look through gearing over time with upper movement in valuations will change quite dramatically ,at least in theory it should improve unitholders positions,think i will do some maths on this one,ironic that the housing market is likely to feel the reverse of reit market with present conditions likely to inflate housing values at every level and this will be compounded by rising intererst rates pushing rents up and owners with margnal equity out all sound oh so familiar and completely out of step with the reit market,so am still holding mildly disappointed with divvy and the likelihood of even lower returns in 2010,but then who is likely to have a bumper year with the aus domestic sector faced with rising costs int,goods,services you get the feeling the good bits are always surrounded with drama,and its hard to see which sector might outperform
MOF Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
