RE:RE:RE:RE:RE:Another dividend just announced. This is tiresome. As soon as you bring up any risk, folks don't want to hear it.
page 52 of the first quarter report:
total debt balance at end of March - $6.605 billion, made up of $3.24 billion in debentures, $2.5 billion in mortgages and $905 million in lines of credit. Pages 52-55 also touch on covenants associated with debt. $1 billion in liquidity. Debt to total assets - 43 percent and debt to adjusted ebitda - 8.22x. So please don't tell me this is a company without considerable leverage - all REITs have considerable leverage.
So no, they don't have $3 billion in debt but more than double that at $6.6 billion . And what do you think happens to that Debt to Adjisteed Ebitda ratio when they report q2? It will go way up , because we already know they have deferments to almost 20 percent of the tenant base and had only collected 55 percent of total rent in April (page 10 of latest investor presentation ).
respectfully, if you have the time to be pontificating on this message board, you have the time to read the AIF, annual report and quarterly filings including M,D&A. Invest with eyes wide open , not with blinders on cause you don't want to confront tangible risks.
You should welcome a discussion around risk, not turn away from it because it doesn't fit with immediate gratification. My best wins over the years surrounded companies where I properly assessed and understood the risks...
Anyways, good luck .