Croesus Retail Trust

[Nick]

I am wondering how can the trust have a yield of 8% when the PE is more than 20?

Looking at the Profit Forecast for FY 2014 and 2015 in their prospectus pg 107, I don't see how you managed to get a PE of 20 ? It would seem the only non-cash variable in the income statement is the fair value changes in the property valuation and management fees expenses being paid in units.

http://www.croesusretailtrust.com/attach...342_en.pdf [Prospectus]