TSX:AX.P.E - Post by User
Comment by
olive15on Jul 07, 2020 12:33pm
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Post# 31234322
RE:RE:RE:Business Update Press Release >>>
RE:RE:RE:Business Update Press Release >>>Could not agree more with retiredceo. BPY.un is buying back near 1B worth of shares, and they are in the shopping mall business. Both BPY and RioCan (also malls) did not cut their dividend despite a substantial yield and high payout ratio. The CEOs of both companies are looking to a future return to 'normal'. As for AX, the CEO bought +600k worth of shares about 6 weeks ago. According to AX, NAV is $15.52. They continue to rebalance portfolio away from retail and toward industrial properties. Payout ratio is quite low so virtually no dividend cut risk. Takeover is off the table but management has not ruled out a future deal. Imo, their US assets would be attractive both to US companies and CAD companies looking to expand beyond Canada. Current sp is similar to what it was a week after hitting its low in March; not unlike most other reits whose price has been range bound.That said, what am I missing? If I have a 1-3 year invesment horizon, why shouldn't I buy AX?