Property trusts going global

Article Abstract:

Property trusts are becoming a global product. An American real estate investment trend now beginning to appeal to those of other countries may hold big benefits for investors of Australia. In the United States real estate investment trusts (REITs) have enjoyed great growth. They are basically operating companies with management, development, leasing and acquisition functions. The structure of Australian property trusts has been criticized by foreign REITs and overseas investors. They object to separation of management and development activities.

United States, Planning, Real estate developers, International aspects, Real estate management, Real estate investment, Real estate investments, Securities

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Victim of the times may still be a good long-term prospect

Article Abstract:

Orica, a chemicals/explosives group of Australis and formerly part of ICI of the UK, may be a good long-term prospect for investors. The company has canceled the proposed listing on the market of its Australian Vinyls Corp. Two floats had been announced, that of its majoirty owned Australian Vinyls and that of Rocla, in building materials. Both were called off because of the fragility of the market. However, dividends, earnings per share and the price-earnings ratio suggest this company might be a 'buy' and is at least a 'hold.'

Finance, Chemical industry, Explosives industry, Orica Ltd.

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Trust market overvalued

Article Abstract:

The listed property trust market in Australia is perhaps overvalued. Property trusts, or real estate investment trusts (REITs), in the small capitalization area have been poorer performers than others. They are seen as having higher risk than other property trusts and as having exposure to Asia. Property trusts in 1998 trade at a yield premium of about 24% to their net tangible assets (net asset value) and net present values and likely will continue to trade at a premium to both.

Economic aspects

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