KLPEF - The Nest Egg Portfolio: Wereldhave's Downward Spiral Creates Opportunities For This 9.5% Yield REIT
Introduction
In this edition of the Nest Egg Portfolio, I will have another look at Wereldhave (OTC:WRDEF), whose share price continues to fall as the entire commercial REIT sector in Europe is going through a tough time. Wereldhave just sold a large asset below its book value, but at a substantially higher value than the calculations in my conservative assumptions. The balance sheet has now been strengthened, but there obviously also was a negative impact on the dividend coverage ratio. I will explain all the consequences of this deal in this article.