Post by
DanielDarden on Aug 21, 2023 10:29pm
A Huge Disconnect
When NXR is issuing $51 M worth of units @$11.69 to a knowledgeable investor to acquire his/her interest in property while the units are trading < $8. Somebody is dead wrong! The investor must see extreme value here to justify the action while the market is seeing extreme risk here to justify the selling.
We might be at a stage when most are not interested in the future but only in today. Present day bias can be a powerful force!
Comment by
Compypaul on Aug 22, 2023 11:21am
I agree. I just bought more down here and even if it declines further, I'm happy to get paid to wait for a recovery. At some point, rational investing will resume.
Comment by
DanielDarden on Nov 02, 2023 2:25pm
Today NXR announced completion of a transaction by issuing ~2.5M units @$11.30 to a knowledgeable investors while trading in the 6s. Can the sellers be that wrong as the debt situation is improving. It is not likely that the acquirer is being duped!
Comment by
DanielDarden on Nov 16, 2023 1:34pm
As expected NAV/u has improved to almost $13 while the price lags. Obviously this has been lumped in with the REITs that are writing down their assets. If management is accurate with their assessments that market rents are 25% higher , this should do very well when sentiment improves. Now would be the right time to add if you agree I guess. After all this is not office stuff which is out of favor.