Mirvac makes their money from fees - and a fund this small generates very little fee flow on passive basis - and it is too small to generate institutional notice and support to keep stock price near or above nta.
So yes - I think it very likely they;d like to sell it given the management time it needs for a relatively low fee for themselves.
I always felt that was a reasonable likelihood.
realistically there is no reason they couldn't add a 0.5c dividend and the stock would rerate as retail investors moved into it.
but my guess is they won't because they want it off their hands and to collect some nice fees on the way out.
talked to broker friends of mine - apparently Mirvac do not promote this reit at all.
Which is why the value is excellent - but it will take some time to matertialise unless a trade sale of the portfolio occurs.
Pity as b-grade assets really get juicy when a-grade is booked up - but they aren't that far progressed in recovery yet in the states.
MIX Price at posting:
16.0¢ Sentiment: LT Buy Disclosure: Held
