The complexity of the arrangement between IFT and Morrison's is the reason I have never invested in IFT. Seems Morrison's is always going to take the cream.
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The complexity of the arrangement between IFT and Morrison's is the reason I have never invested in IFT. Seems Morrison's is always going to take the cream.
The Incentive fee of $100 million odd is because of an upgrade to the carrying value of the Datacentres, Longroad and Tilt.
Would I be right in assuming this upgrade increases Infratils net assets by about $1.30 per share.
That explains the rerating of IFT. It is usually priced against asset valur per share at a discount.
Question: is the fee announced this morning a one off charge?
not much of a fall yesterday so all good eh
Funny you are downraming a solid stock with a forward PE of below 9 (like SUM) and concurrently up ramping another (as solid, but much dearer) stock with a forward PE of 25 (IFT). Unless you just try to ramp IFT up for you to sell - at some stage pure TA reliance might catch you out ;);
Fundamentals actually do matter :)
I recon this is just your opinion (and you are absolutely entitled to it) - or would you mind to provide some evidence for the better fundamentals of IFT? How do you measure that? Can't be PE (SUM is much better in that regard), NTA to SP (both quite comparable in that regard) or SUM's outstanding growth compared to IFT's shrinking (both EPS CAGR as well as revenue CAGR for IFT are negative).
Ah yes, I forgot - you like negative - don't you?
I agree ,BULL . IFT still get 80%