Market Wrap - Stock Pick - Emira Property Fund
--:--
Nesi Chetty from Momentum chose Emira Property Fund Ltd as his stock pick of the day.
“Emira has done quite well over the last couple of years to sell off its assets and improve its quality. The company has a very exciting international strategy, they have partnered with a company called Rainier where they are looking at shopping centres with a high category of food anchor in there. On those type of deals they are getting around 11% cash in dollar, it's a cash on cash return. If you look at the forward yield on Emira it's quite attractive on 11.5% and it's trading at probably 115 basis points higher or discount to where the overall market is on the property side."
“Emira has done quite well over the last couple of years to sell off its assets and improve its quality. The company has a very exciting international strategy, they have partnered with a company called Rainier where they are looking at shopping centres with a high category of food anchor in there. On those type of deals they are getting around 11% cash in dollar, it's a cash on cash return. If you look at the forward yield on Emira it's quite attractive on 11.5% and it's trading at probably 115 basis points higher or discount to where the overall market is on the property side."
