TSX:SGR.UN - Post by User
Post by
Nashville35on Nov 16, 2023 2:31pm
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Post# 35739730
The vicious deleveraging cycle
The vicious deleveraging cycleOver promised and underdelivered for years. Every single report, they emphasize how their rents are well under market, but situation never changes, likely due to power of anchor grocery anchor tenants who ultimately hold the power imo.
trading well below book and with 1/5 of the debt maturing in 2024, they either refinance the debt at much higher coupon or sell assets, I think they become a seller of assets, even though it will eat int9 management fees ($6.7 million year to date).
either way, it leads the way to reduced distributions , which is what the share price is telling you .
the stated yield is fool's gold in my opinion....