15.5% yeild. 39 cent drop today in pps but NAV reamained at $10.67, unchanged. pps is at an 8% discount to NAV. 83% of AWP's assets are outside of USA. Seems like we're oversold. If I've learned anything about CEFs, you don't buy at the IPO price; you buy at a lower price after it's been issued and you buy at a discount. I've never seen a CEF's NAV drop buy 50% in just over a year. In today's release of AWP's semiannual report,management states that the drop in NAV is related to the drop in financial markets, not the underlying value and income from their real estate investments. $9.83 seems like a solid point to buy, but there's no law that says an undervalued stock can't go lower.
Shows exactly why it is a great time to buy and hold this CEF.
At $9.30 Friday close AWP is paying a 16.3% dividend while you wait for the stock to appreciate back to normal levels. I believe this will be a 40+% return if held over the next year (div+ cap apprec.).