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For me, the important numbers are the following:
1. LMIR is trading at a huge 43% discount to NAV 84c.
2. Gearing is very low at 10%.
3. Annualised yield is 10% at the unit price of 48c.
Despite the very strong fundamentals, LMIR's unit price has been languishing.
Technically weak, it has closed below the 200dMA support today after forming lower highs since the start of the year. The next support is at 47c. If this breaks, price could fall to as low as 44c, I reckon.
MFI has been forming lower highs, suggesting a lack of positive buying momentum, making a further weakening in price for this REIT probable. So? I would definitely accumulate on weakness if it does come to that. 44c would be a bargain!
See presentation slides here.
Related post:
LMIR: More units at 10% yield.
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