Charter Hall Long WALE REIT (CLW)
James and team. I notice a significant reduction in the share price of CLW today. Do you have any insights to what may have caused this? Thanks Colin
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Answer
Morning Colin,
Charter Hall Long Wale REIT (CLW) which MM holds in our MM Income portfolio was sold off fairly hard last Tuesday as a direct result of rising bond yields. This is a property REIT that has long term leases, and rising interest rates are a negative for such exposures. However after touching 1% last week Australian 10-year bond yields again backed off, until we see a sustained break above the psychological 1% level CLW should remain well supported courtesy of its almost 6% forecasted yield over the next 12-months.
MM likes CLW below $5.
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