RE:A lot of explaining to do?NAV is calculated based on appraisals done by professionals and done over a varying time frame (don't know the specifics off hand).
There haven't been buybacks recently either (nor DRM or AX buying shares), so it will be interesting to see the plan whether it is just a matter of sell one or two buildings and buyback shares with proceeds.
It is a public REIT specific problem of a decline versus NAV; even with a 10% sector wide drop in NAV the discounts are even worse than at the begining of COVID with over 10% of leasors not paying rent. In terms of vacancies I would prefer these over discounted rents (and so would anyone wanting to acquire assets).
Not much can be done about the overall sentiment which is funds selling REIT holdings. Majority of commercial real estate transactions are not publically traded entities which are continuing to want assets.
SNAKEYBOY wrote:
Last quarter there was a blurb about evaluating how to unlock value in office reits with the steep discounts. They side-swiped the conference call. But for the annual one, coming out and saying NAV is $33 and trading at $15 just may not cut it! The market needs to see what they're cooking or they should at least mark down their properties