its a little concerning to see the institutional investors...

its a little concerning to see the institutional investors reducing exposure (both perpetual and goldman sachs heading for the exit having made a nice profit) and this company has had a great run from 4.55 to 6.05 over less than 12mo.
i understand their planned expansion of sydney and brisbane and the oligopoly and increased Chinese / se asian tourism over the last 6 years (100% increase), but im getting the feeling that a p/e of 25 has as much downside risk as upside risk. many brokers are retaining a buy but the buys have been present for a long time and there are a few downgrades to hold and underperform around, so i think its fair to say that these broker recommendations may be downgraded to holds/ underperforms soon.
some brokers have 12mo price targets of 6.50 to 7.00 but i think its fair value now so ill sit on my hands and wait to buy if it drops to better value around 5.50-5.60 to reduce downside risk. i dont mind if i miss out if it never goes that low.

any similar or opposing views around?