The stock of Australian Unity Office Fund (ASX:AOF) reached all time low today, Nov, 22 and still has $1.92 target or 5.00% below today’s $2.02 share price. This indicates more downside for the $283.55M company. This technical setup was reported by Barchart.com. If the $1.92 PT is reached, the company will be worth $14.18M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. 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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