RE:RE:RE:Dream / ArtisWell said BlueJay, I think a more reasonable assumption might be that almost no REITs are worth their stated NAV rather than that the entire universe of investors has chosen to misprice almost all REITs.
I would personally welcome a reduced NAV since it would help us more easily sell unwanted assets. It's too bad we could not have written down NAV pre-SIB and bought back units for cheaper. I don't honestly understand this REIT obsession with increasing NAV. Everyone would like to see net rents higher, higher occupancy, more FFO but I suppose NAV is much easier to manipulate higher. Not blaming anyone - it seems to be a game that almost all REITs play.
BlueJay2020 wrote: Speaking of Q2, at some point you would think an asset impairment is on the cards. Not even management believes its own NAV. Non-cash, but no-one likes to see red ink - it just feeds into the negative narrative.