A-REITs expensive on almost every measure

There are no bargains here but if you do own any of the 24 stocks covered in this review, you might want to start thinking about selling them.

Australian Real Estate Investment Trust (A-REIT) shares have been highly volatile over the past decade, as Chart 1 shows. Ably assisted by the liberal use of debt, they boomed in the pre-GFC years when many raised capital to conquer the US and Europe. This rash bout of collective stupidity had a predictable end.


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