TSX:SOT.DB - Post by User
Comment by
MARKOPOLISon Dec 12, 2020 4:03pm
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Post# 32093972
RE:RE:Important listen to this SLAM Welch speaks
RE:RE:Important listen to this SLAM Welch speaks During the interview mr Welch indicated that overleverage is basically a detriment. However in Jan 2018 SLAM has no problem with leveraging balance sheet to 62% buying highly Vacant run down properties from cominar. They had sold it to investors as we will increase occupancy at market rents ....but what really has occurred
1) over leverage had resulted in several downgrades
2) declining occupancy persisting to this day did you see they last earnings ?
3) they have not had a write down on NAV the reason is they just completed refinancing of debt had they written down debt the lenders would have charged higher rates or demanded stronger covenants restrictions
4) the mass exodus of insitutional investors during 2018 2019 all awhile SLAM the great 6 billion. Manager worldwide cannot attract new institutional investors to their REIT ?
5) value investors at slam have no desire to invest in their own REIT trading at 40% NAV ( that they claim to be legit)
6) they have let their properties fall in poor condition no money spent in capex to obtain new tenants see St. John debacle and mayor is taking it public
7) they charge the REIT large amount to manage ....manage what ? It's been an absolute disaster under their management
8) declining occupancy worst in industry
9) i directors make $150k, CFO makes 200k CEO 500k and we have 2 directors buy an embarrassing 4000 shares....what an absolute embarrassment.
10) since they managed this 2013 no increase in dividends just one major slash 46% ....that the record
they have access to all insitutional private equity investors and they won't touch SOt
I am waiting until earnings in February 2021 which I am expecting a NCIB ...if they do not it will confirm
my research
They will not answer these questions at AGM or in an email
other retail investors have reached out to me and said the same ...poor IR with retail investors no insitutional .....these are the facts .....poor corporate governance now we all know why Td analyst says the fact it's outside managed by SLAM is a risk