- Yield = 8.85%
- Price-to-book Ratio = 1.138
- Assets per unit = $2.028
- Debt per unit = $1.202 (including current liabilities)
- Gearing = 59.3%
I have recently made purchases for Croesus Retail Trust (& Accordia Golf Trust) for these reasons.
Firstly, the yield is high at 8.85%. With its current acquisitions, I expect the yield to improve. The only concern is that Japanese Yen is falling due to the country's Quantitative Easing policy. The price-to-book ratio is quite high though at 1.138 but I am expecting a revaluation upside as their valuation is undemanding compared to recent transactions.
Gearing is at an unhealthy range of 59.3% but with the current QE in place, there will be a lot of cheap Japanese Yen around so interest rates will continue to be low. Moreover, I am expecting a round of equity fund raising which I favour as I have a chance to buy at a cheap price.
I am vested with 56,000 shares which I bought at $0.945. Will continue to look closely at this and the general Japan Economy.
Firstly, the yield is high at 8.85%. With its current acquisitions, I expect the yield to improve. The only concern is that Japanese Yen is falling due to the country's Quantitative Easing policy. The price-to-book ratio is quite high though at 1.138 but I am expecting a revaluation upside as their valuation is undemanding compared to recent transactions.
Gearing is at an unhealthy range of 59.3% but with the current QE in place, there will be a lot of cheap Japanese Yen around so interest rates will continue to be low. Moreover, I am expecting a round of equity fund raising which I favour as I have a chance to buy at a cheap price.
I am vested with 56,000 shares which I bought at $0.945. Will continue to look closely at this and the general Japan Economy.
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