TSXV:PAR.H - Post by User
Comment by
YieldChaseron Mar 21, 2014 2:19pm
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Post# 22352848
RE:all the boxes are checked
RE:all the boxes are checked
But: is the NAV justified, i.e. the low CAP rate they use to value assets ?
It seems that 8-9% CAP rates are appropriate, suggesting a price sub $5, but they use a 7% CAP rate which seems too aggressive. However, it stock has leved around $5.60 plus or minus 20 cents and with a 50 cent a year yield that is around 9%, which is appropriate for a small town stock.
Biggest concern: still OVERDISTRIBUTING over AFFO. If this will not drop to below 100% soon stock will likely suffer.