Current Price on 21st Oct 2010 = $0.565
- Current Yield = 8.40%
- Price-to-book Ratio = 0.975
- Assets per unit = $0.968
- Debt per unit = $0.389
- Gearing = 40.2%
Cambridge announce its results and new acquistion and also new preferential offering. From my perspective, they disappoint in terms of their yield because it decreases which I think is due to sale of properties. But I do see that they are trying to recycle the money and put it into new properties investment which is a good sign. They are also trying to pare down the debt to reduce risk which is another good move.
Yield is still ok to me according to my criteria but its price-to-book ratio is quite close to 1.00 which is my threshold. I will look at this closely to see whether it is time to offload them. (Since I have a formula, I will try to look at it objectively and follow it)