Ascott Residence Trust


ART is selling a building for 64.3% above the independent valuation which was as of Dec 31, 2018. Either the property valuers don’t know what they are doing, or the buyer is crazy. I have not met any crazy people with 353 million dollars to spend on a building…


Beauty in the eyes of beholder no? Valuation seems more of an art than science


It could be. It shouldn’t be. The NAV of the shares is wholly dependent on “artistic” feelings. I am benefiting in this case, with the stock being re-rated higher, but I shudder to think how many other gems are in balance sheets of REITS which might just as easily be over-valued