However, its price-to-book ratio is also at a high of 1.09 which means we are paying a premium of 9% more than we should. Moreover, there is no secured NAV to talk about and its credit rating is not at investment grade either (BB+).
8.40% is really attractive and I won't get anything near for other REITs. But the price-to-book ratio is also too high for me. I am giving this a miss this time round and look for those with 7+% yield and discount to NAV.