IFT - Infratil

[Leftfield]

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.

[RTM]

Infratil advises its Underlying EBITDAF(ii) guidance for the year to 31 March 2019 is now revised from NZ$580 to NZ$620 million to NZ$535 to NZ$545 million

massive downgrade $5 here we come lol

Maybe you mean 3 ?

[freddagg]

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.

[bull....]

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.

assets increase , but less cash available to invest in the assets. asset increase is only good if your going to sell the asset or use them to borrow more against at some stage

[horus1]

That explains the rerating of IFT. It is usually priced against asset valur per share at a discount.

[huxley]

Question: is the fee announced this morning a one off charge?

[longy]

Question: is the fee announced this morning a one off charge?

My understanding is when the valuation of asset is greater than 12%, they get 20% of any gain above 12%, after three years of asset ownership. I think the gain also inclusive of any asset sold during that period.

[bull....]

not much of a fall yesterday so all good eh

[BlackPeter]

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

[bull....]

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

fundamentals of ift are better than sum and ift has macro tailwinds where as sum has macro headwinds