Property Stocks

[Dolcile]

Big capital raise from PCT.   Paying dividends while issuing equity is an interesting strategy. 

[Waltzing]

Truly amazing....just shows the quality of the management in some of these property companies... slick salesman..

[Basil]

The large Precinct capital raise has put a lot of temporary price pressure on others in this sector. I like KPG and ARG the most in this sector and current pricing looks like a real opportunity to me for those not already well positioned in those two.

[Waltzing]

Looks like the COMP PROPS have run out of steam for a while.. really did PCT think it was cheaper to cap raise rather issue bonds? Or has it reach its covenants..

[Basil]

Their gearing before the cap raise was 41% which is getting up there.  I think this capital raise gives them the capability to buy MCK's downtown M Social hotel giving a more complete downtown development.

[Dolcile]

41% is certainly up there. My understanding is most banks like to remain at under 55-60% LVR. 

[Waltzing]

SIR B, runs a local intelligence gathering network hes set up over decades.. notes come in by hand from operatives circulating around the city in everything from Tax Cabs to shoe shine boys....