Investment Property Valuation: FY2021
From post 1297 on the KPG thread.
Quote:
Originally Posted by
Beagle
Industrial property is still in great demand because its a growth industry in massive demand and supply constrained. Cap rates on industrial property are at 100 year lows, I see their portfolio at just 4.4%. I am confident that will be the last revaluation PFI investors will see. This is also reflected in the share price being below the new NTA of $3.03 despite PFI's excellent track record. I put it to you that the market is often far more forward looking than either you or I give it credit for. 90% of that gain in NTA was due to a huge move down in capitalization rates...obviously that ~ 80 cent gain in NTA resulting is reversible when cap rates firm up again. Its probably also worth noting that those cap rates were as per valuation in December 2021. A lot has happened in the market since then including inflation numbers here and overseas that were shocking and higher interest rates.
In terms of capital preservation...I believe for the foreseeable future investors in all REIT's are skating on very thin ice.
From AR2021 (that is the one issued in February 2002) P61:
Valuation of Investment Properties at EOFY2021: $2,158.940m
Valuation of investment Properties at EOFY2020: $1,524.785m
=> Average over year FY2021 = ($2,158.94m+$1,524.785m)/2 = $1,841.9m
SNOOPY
Investment Property Valuation FY2022
Quote:
Originally Posted by
Snoopy
From AR2021 (that is the one issued in February 2022) P61:
Valuation of Investment Properties at EOFY2021: $2,158.940m
Valuation of investment Properties at EOFY2020: $1,524.785m
=> Average over year FY2021 = ($2,158.940m+$1,524.785m)/2 = $1,841.9m
From AR2022 (that is the one issued in February 2023) p61:
Valuation of Investment Properties at EOFY2021: $2,158.940m
Valuation of investment Properties at EOFY2022: $2,096.200m
=> Average over year FY2022 = ($2,158.940m+$2,096.200m)/2 = $2,127.6m
SNOOPY