Post by
garyreins on Apr 23, 2024 9:40pm
My view
I view BTB getting a cheap AFFO multiple not due to management, but because the debt is high (60% GBV) and high NOI from office, so its better than office reit but cheaper than say HR/Artis as a diversico.
I am not against better governance but overall BTB has been pretty rock solid past couple years relative to its peers. If it can maintain that stable AFFO and grow it to support this juicy dividend, it will no d oubt get back to $4+ in a heartbeat when reits get back in favor!