I'm just speculating here so open to discussion but from my analysis i believe the reason is thus:
Two types of investor profiles,
* Day Traders/speculators heading towards heavy upside stocks such as MDT, VPG etc (eg 65% return in last month)
* Income Safety/ risk averse traders heading towards safer dividend stocks (fundamentally to me these would be eg AEU, CHC etc)
MOF lies in between. i.e. There are plenty of REITs with statistically higher upside, and there are plenty of REITs which are *safer*.
Gradually as we've seen one by one these explosive REITs are finding form towards the top of the upside table (each one moves MOF higher up anyones tracking list). Once thats happened then people re-assess the upside and diversify to try and pick the next one to explode / rapid gain.
In short -It's not risky enough for some, but over risky for others. lol
Being between the two investor profiles is both a weakness and a strenth in my view for MOF. The debt is a little high for absolute certainty, but it is resolvable and would attract yield investors once they are convinced of its safety. Equally as MOF heads closer to the upside top as each week passes then i'd expect we'd have a fairly rapid gain and attraction to day trade/ risk investors and should pull up nicely. If current sentiment continues and a good week or two ahead then i think we could have serious action here in the next few weeks.
Just my opinion :)
Kasper
MOF Price at posting:
19.0¢ Sentiment: Hold Disclosure: Held