What happened to BB ?, page-220

I agree if your are trying to time the absolute best price to get in at, there will be a lot of noise in the short term and it is up to you how you navigate the noise.

I personally think the fundamentals look fantastic for this price.

The reason I feel confident is the update in mid Feb, 8 mill of the EBITDA was related to timing. (annual price increase and timing of redevelopments). So, much of the growth is still there, just it won't occur until the 2020 FY.

Even at the lower end of the EBITDA estimate we are flat on last year, despite sites being offline for redevelopment.

FY20 should also see Vic growth come to fruition.

This brings us to the DADI acquisition. The entitlement offer and the scrip for the purchase of DADI was completed at 2.48/2.54. $75 mil should be bought back at a much lower per share price.

So if i over simplify, you are now buying DADI at a significant discount if you buy the shares now. Which makes the DADI deal look better now than in the past(remember it propelled the share price to over $3, albeit probably overvalued at this time).

Obviously there is the negative side to consider. Building industry is suffering and it could continue to be a drag on the company. However I think the Infrastructure pipeline will continue to be strong and if they can capture a larger portion of this market it could help them to offset against the building industry.

All IMO and recommend you DYOR and come to your own conclusions