updated mathematical mof garble, page-25

3 weeks further on. New update below. Refer to previous updates for notes on methodology as is purely a mathematical upside table, not based on actual fundamentals.

* Did pretty well based on last analysis. Biggest gainers in last 3 weeks are GMG , IIF , MCW and the MOF in 4th place (61%)
* Mid table REITs are strengthening well.
* ILF has most upside based on this analysis, VPG yet to really take off too. Market still has concerns here i think.
* If you had put equal money in all 32 REITs & property stocks below for last 3 weeks you would have had a 21% return.
* LLP the biggest loser in time period and heading for covenant breach. Possibly there will be a few more breaches likely by end of month. Next weeks updates will steer direction, but i think there will be a few close to breaches when new property valuations are taken into account. May actually see a few dropping back as a result. LLP may therefore be great value as its already factored in assuming you are happy to take on what i perceive as a low risk.
* Still believe safest property play here with good upside is SDG in 11th position but no debt issues to worries about, and buyback protecting downside.
* Think AEU is due a good month but will depend on upcoming tennancy announcements.
* FKP looks like one to watch.
* Gap between the pereceived *safer* REITs and those that have higher debt problems is closing bar a few obvious examples, which will ultimately encourage stock migration.
* MOF may well be the REIT with highest upside that pays a dividend which adds safety to its SP.

Pos Share Price 52 Week High SP / 52 High % Price 24th May % gain last 3 weeks Change
1 ILF 0.051 0.64 7.97 0.053 -3.77 2
2 VPG 0.084 0.95 8.84 0.070 20.00 n/c
3 GMG 0.450 3.8 11.84 0.240 87.50 -2
4 FKP 0.810 6.31 12.84 0.735 10.20 2
5 AEZ 0.059 0.38 15.53 0.055 7.27 n/c
6 IIF 0.295 1.88 15.69 0.170 73.53 -2
7 TSO 0.275 1.66 16.57 0.215 27.91 n/c
8 LLP 0.105 0.54 19.44 0.140 -25.00 11
9 MOF 0.250 1.11 22.52 0.155 61.29 -1
10 APZ 0.345 1.33 25.94 0.315 9.52 3
11 SDG 0.700 2.61 26.82 0.555 26.13 -1
12 GPT 0.500 1.82 27.47 0.490 2.04 2
13 CER 0.120 0.42 28.57 0.078 53.85 -4
14 ABP 0.360 1.25 28.80 0.315 14.29 3
15 AEU 0.265 0.88 30.11 0.295 -10.17 7
16 MDT 0.170 0.54 31.48 0.120 41.67 -4
17 CNP 0.105 0.32 32.81 0.083 26.51 -6
18 BJT 0.365 1.03 35.44 0.300 21.67 n/c
19 ALZ 0.440 1.14 38.60 0.385 14.29 1
20 IOF 0.585 1.5 39.00 0.455 28.57 1
21 CHC 0.520 1.27 40.94 0.370 40.54 -5
22 MCW 0.530 1.2 44.17 0.315 68.25 -7
23 DXS 0.720 1.6 45.00 0.665 8.27 n/c
24 CPA 0.800 1.6 50.00 0.760 5.26 2
25 CDI 0.445 0.81 54.94 0.400 11.25 2
26 SGP 3.400 6.05 56.20 2.760 23.19 -1
27 OAK 0.620 1.1 56.36 0.500 24.00 -3
28 WDC 11.680 19.4 60.21 10.040 16.33 n/c
29 MLE 1.310 2.09 62.68 1.360 -3.68 1
30 CFX 1.615 2.48 65.12 1.650 -2.12 1
31 LLC 7.430 11.35 65.46 6.760 9.91 -2
32 BWP 1.650 2.03 81.28 1.630 1.23 n/c