A Reversal for Australian Unity Office Fund Is Not Near. The Stock Reaches 52-Week Low Today

 A Reversal for Australian Unity Office Fund Is Not Near. The Stock Reaches 52 Week Low Today

The stock of Australian Unity Office Fund (ASX:AOF) hit a new 52-week low and has $1.88 target or 7.00% below today’s $2.02 share price. The 6 months bearish chart indicates high risk for the $283.55 million company. The 1-year low was reported on Nov, 22 by Barchart.com. If the $1.88 price target is reached, the company will be worth $19.85M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 0.49% or $0.01 on November 22, hitting $2.02. About 324,774 shares traded hands or 348.03% up from the average. Australian Unity Office Fund (ASX:AOF) has risen 6.00% since October 23, 2016 and is uptrending. It has outperformed by 1.44% the S&P500.

Another recent and important Australian Unity Office Fund (ASX:AOF) news was published by Reuters.com which published an article titled: “BRIEF-Australian Unity Office Fund reiterates FY17 distribution forecast” on November 11, 2016.

Australian Unity Office Fund is a real estate investment trust that owns a portfolio of eight office properties located across Australian metropolitan and central business district (CBD) office markets. The company has a market cap of $283.55 million. The Fund’s investment objective is to provide unitholders with sustainable income returns via quarterly distributions and the potential for capital growth over the long-term by investing in a portfolio of Australian office properties. It currently has negative earnings. The Company’s properties include 30 Pirie Street, which is an A-grade office property; 10 Valentine Avenue, which comprises 14 levels of office space and basement parking; 5 Eden Park Drive, which comprises three levels of office accommodation; 32 Phillip Street and 468 St Kilda Road, which are B-grade office properties; 241 Adelaide Street; 2 Eden Park Drive, which comprises 16 attached united, and 64 Northbourne Avenue, which is a six-level office property.

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