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Saizen REIT: Insider continues to buy as price recovers.

Friday, March 18, 2011

Argyle Street Management Holdings Limited, a substantial shareholder of Saizen REIT, bought another 600 lots at 13c/unit on 17 March. This increased their holdings from 15.201% to 15.252%. See announcement here.

Saizen REIT recovered today by 1c or 7.7% to close at 14c. There is news that Japan could restore power to cooling systems at the nuclear power plant as early as tonight. If it pans out well, we could see the unit price of Saizen REIT closing the gap at 15c next week.


On the weekly chart, a white candle was formed. Technically, this is encouraging under normal circumstances but the circumstances now are not normal. Let's see how things turn out in the next few days.

Related post:
Saizen REIT: Hold or sell as insider buying continues?

2 comments:

Anonymous said...

Dear AK,

Just to drop a note to say that I enjoy reading your posts. A quick question:

How do you think the recent events have affect the DPU for Saizen?

Though almost all the buildings are still intact. I am wondering if the current nuclear issue will affect the tenancy rate Saizen's buildings which in turn may affect their projected earnings.

Looking forward to your comments and future posts.

Many thanks in advance. =)

Regards,
WL

AK71 said...

Hi WL,

In a few earlier posts, I proposed a worst case scenario of a total loss of the 28 buildings in the affected areas. That would cap losses to NAV and DPU at about 15%.

In fact, I suggested that the loss to DPU would be lower since almost half of the affected buildings belong to YK Shintoku which does not contribute to income distribution at the moment.

Now that 27 of the 28 buildings have been visited and damages are slight, it seems that the worst case scenario is no longer required unless a nuclear meltdown happens at the Fukushima power plant.

You might want to read my earlier blog posts on the subject. Just click on the label in red, "Saizen REIT", at the end of this blog post. Good luck to us all. :)

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