Emirates REIT NAV/share at USD1.65 in December, implying P/NAV of 0.68x
Emirates REIT (EREIT) announced that its NAV as of end of December 2016 had reached USD493.4mn (USD483.3mn in November). The total portfolio size has reached USD753mn in December. This is equivalent to USD1.6468/share (USD1.6130/share in November), translating into a P/NAV ratio of 0.68x, on the latest closing share price. (Company disclosure) Emirates REIT (DU): USD1.13 as of 26 January 2017, Rating: Neutral, TP: USD1.24 per share, MCap: USD338mn, REIT DU / REIT.DI
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