On 1st July 2022, BREI changed its name to CT Property Trust, ticker CTPT -- MDW1954
BMO Real Estate Invs. (BREI) are looking anomalously cheap versus peers. After a recent run up to 80p, they are now languishing back at 71.2p, at which level they are trading at a 28.2% NAV discount and a yield of 5.27% on a projected 3.75p dividend.
What particularly catches my eye is that a NED has recently invested £20k at 74.4p. Another bull point is the chart which shows the SP bouncing on the 70p support level and also off the 150day SMA.
The property portfolio is also attractive:
# Industrial – 46%; Office – 30%; Ret. W’Hse – 16%; Retail – 8%
The LTV is 25.3%, the debt cost is 3.1% . WAULT is 5.6yrs.
I would bracket BREI with SREI & SLI, both recovering well and trading on discounts below 20%.
IMO they look good for a 10%-15% short-term trade – certainly worth a little investigation as these anomalies have frequently provided profitable trades.