Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Primaris Real Estate Investment Trust PMREF


Primary Symbol: T.PMZ.UN

Primaris Real Estate Investment Trust is a Canada-based company, which operates as an enclosed shopping center-focused real estate investment trust (REIT). The Company owns and manages 35 retail properties aggregating approximately 11.4 million square feet, including 22 enclosed shopping centers totaling approximately 9.8 million square feet and 13 unenclosed shopping center and mixed-use properties aggregating approximately 1.6 million square feet. Its properties include Cataraqui Centre, Devonshire Mall, Dufferin Mall, Grant Park Shopping Centre, Highstreet Shopping Centre, Kildonan Place, Lansdowne Place, Marlborough Mall, McAllister Place, Medicine Hat Mall, New Sudbury Centre, Northland Village, Orchard Park Shopping Centre, Park Place Mall, Peter Pond Mall, Place d’Orleans, Place du Royaume, Quinte Mall, Regent Mall, Sherwood Park Mall, Sunridge Mall, and St. Albert Centre. The Company also owns Conestoga Mall in Waterloo, Ontario.


TSX:PMZ.UN - Post by User

Post by SNAKEYBOYon Jul 08, 2022 11:08pm
380 Views
Post# 34812488

Buying back 50k shares a day

Buying back 50k shares a dayWould translate to:
  • 13 million shares cancelled / year
  • Total cost around $170 million per year at avg $13.00
  • 60 million free cash flow means they to come up with $110 milion. That's basically 1 asset sale per year, and/or some debt
  • 100 million shares outstanding, 75 million not owned by HOOPP
So basically they can buy out the non-HOOPP float at this rate in under 6 years.   As long as the private valuation does not go down considerably this is probably going to be easy

In fact if they do a NCIB for 6 years at $13 the NAV / unit will basically go to $30 and beyond
<< Previous
Bullboard Posts
Next >>