yes i saw that trend in 2020 , but could never get my target on NSR , and was hoping that trend continued whilst buying ABP ( and ABPDA and ASK ) ALSO bracket 'ecommerce' with very small businesses/hobbies/collectibles .I hadn't before considered that self storage might be used for e-commerce 'logistics' but makes sense.
Apart from population growth, the only tailwind for self storage that I speculated on was more transience and homelessness. Revenue growth of 9% cf FY22 and they're building more of course with fresh capital from the separate listing as ASK. Nothing much happening with the share price of ASK so far today.
Thanks finicky,At $1.12, ABG is trading at 59% H1 net tangible asset value. I've read it's usual for REITs to trade at a discount but I believe this is uncommonly low. They do have office assets but have said before that these are in prime locations with high rates of occupancy. Other types they have are retail and self storage (through apart ownership of destapled ASK). Learning process for me - first time REIT holder, also bought some DXS and CHC.
From H1 report:
Abacus balance sheet strong with solid asset backing and liquidity
The HY24 revaluation process saw an expansion of Office cap rates by 36 basis points to 5.95%, and the
Retail portfolio cap rate expanded by 20 basis points to 6.36%. As a result, the overall carrying value of
the Group’s investment properties reduced in value by $139 million or 6.4%. Our HY24 net tangible
assets per security was $1.92 with the investment in ASK representing 29 cents3 (or 15%) of total net
tangible assets.
I was quoting figures from several sources who all quote over 12% so I dunno how they arrive at that figure, Market Index, Simply Wall Street and Morningstar all quoting similar figures. Are they all wrong??
Greg Canavan from 'fat tail investment advisory', from whom I took my lead, sees it this way too. He advises on contrarian undervalued sectors or individual stocks that are ignored and likely to pay a dividend/distribution through a market decline.I’m looking to maximize my income stream so buying into REITs as I believe a lot of them are good value right now.
No, 40 minutes away. Nimbin's where I wanted to live but property values were already inflated when I was looking and the available bousing stock looked poor quality to me. Also I don't like giving an exact location as you never know who's reading and capable of dark designs, as I observed second hand from another site.You from Nimbin??
Understand, I’m just outside of Nimbin myself so not far away.Greg Canavan from 'fat tail investment advisory', from whom I took my lead, sees it this way too. He advises on contrarian undervalued sectors or individual stocks that are ignored and likely to pay a dividend/distribution through a market decline.
No, 40 minutes away. Nimbin's where I wanted to live but property values were already inflated when I was looking and the available bousing stock looked poor quality to me. Also I don't like giving an exact location as you never know who's reading and capable of dark designs, as I observed second hand from another site.
But my real reason is 'Nimbin' carries a cachet, lol
Most likely true.( and maybe they all outsource to data from a third party )
at one stage i looked at the New England Tableland ( am not much of a coastal person )Greg Canavan from 'fat tail investment advisory', from whom I took my lead, sees it this way too. He advises on contrarian undervalued sectors or individual stocks that are ignored and likely to pay a dividend/distribution through a market decline.
No, 40 minutes away. Nimbin's where I wanted to live but property values were already inflated when I was looking and the available bousing stock looked poor quality to me. Also I don't like giving an exact location as you never know who's reading and capable of dark designs, as I observed second hand from another site.
But my real reason is 'Nimbin' carries a cachet, lol
i would add a touch of caution to that ( i am familiar with one or two of their assets )Re the full year distribution. From the horse's mouth, the HY24 release:
"Abacus Group reaffirms FY24 distribution guidance of 8.5 cents per security and a full year payout ratio
of between 85% and 95% of FFO. Our guidance is predicated on no material decline in current business
conditions."
REITs Held: CHC, CNI, CQE, DXC, SGP
DXS is on my shopping list.
i prefer ASK over ABG , but hold both , i use REITs mostly as a bond proxyIt might be of interest that Greg Canavan reversed his guidance on REITs and a bond etf today.
He recommends selling his prior tips: ABG, CHC and DXS. On balance these would be at a modest profit from his entries I think.
This about face follows from his changed view on the future course of interest rates which he previously felt had peaked. He now believes that a rising oil price will be inflationary and put paid to the expectation of rate cuts. As I disclosed, REITs are a new asset group for me, but I take from him that REITs are very sensitive to interest rates. I don't have large holdings so I'll complacently ride out any downturn: DXS, ABG, CHC and ASK.
Held
Sold CHC today for a nice profit, never bought DXS it never reached my buy price.It might be of interest that Greg Canavan reversed his guidance on REITs and a bond etf today.
He recommends selling his prior tips: ABG, CHC and DXS. On balance these would be at a modest profit from his entries I think.
This about face follows from his changed view on the future course of interest rates which he previously felt had peaked. He now believes that a rising oil price will be inflationary and put paid to the expectation of rate cuts. As I disclosed, REITs are a new asset group for me, but I take from him that REITs are very sensitive to interest rates. I don't have large holdings so I'll complacently ride out any downturn: DXS, ABG, CHC and ASK.
Held
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