TSX:AX.P.E - Post by User
Comment by
Frankie10on Feb 14, 2024 8:22am
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Post# 35879323
RE:.....and now for something COMPLETELY different
RE:.....and now for something COMPLETELY different Thanks for the kind words. SRU!? The world travelling DZ buying the REIT operating in my backyard!? I didn't know you liked SRU. A very good REIT if you understand their crown jewel, which is essentially city blocks of the Woodbridge core that connects the GTA to Toronto. I have lived in Vaughan, DT Toronto and currently North York and being from Vaughan, that intersection that they own (where their headquarters is located) is literally at the heart and is central to everything. I own it as well for retail exposure. I sold off my FCR, so Riocan is my Toronto retail exposure and SRU is my GTA retail exposure. I believe it pairs well with a Toronto core retail REIT. When I looked (I haven't done analysis in months until yesterday afternoon for H&R) SRU traded at a very healthy implied cap rate relative to the other retail REITs -- but that is expected given how real estate is priced in Toronto vs GTA. That said, I weigh everything against the current risk free rate and at the time of my analysis, SRU stood out to me for months. Cheers DZ. Hope you are well. Travel safe as always!!