CLW is a long WALE REIT mainly with government tenants hence stable and low-risk income with duration making it the ideal candidate to be first when we decide to catch the property “falling knife”. Its already forecast to yield ~7.5% over the next 12-months which by definition will go up if the stock continues to fall. – MM is already finding CLW tempting!
NB The term WALE refers to the Weighed Average Lease Expiry and is used as a measure of how long the asset is tenanted. CLW targets long-term leases with secure tenants and has an average WALE of 12.2 years.
MM likes CLW into weakness towards $4
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