Slate Office REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 T.SOT.DB

Alternate Symbol(s): SLTTF | T.SOT.DB.A | T.SOT.DB.B | T.SOT.UN

Slate Office REIT (the REIT) is a Canada-based global owner and operator of workplace real estate. The REIT is an unincorporated, open-ended real estate investment trust. The REIT owns interests in and operates a portfolio of real estate assets in North America and Europe. The REIT's portfolio is primarily comprised of government and credit tenants. The REIT's portfolio consists of approximately 54 commercial properties located in Canada, the United States and Ireland. The REIT's Canada operations include Atlantic, Ontario and Western. The REIT is externally managed and operated by Slate Management ULC.

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Slate Office REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 > Free Fall

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Comment by Capharnaumon Mar 20, 2023 1:27pm

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Post# 35349278

RE:Free Fall

I think investors were hoping that Slate management would get kicked out and then the assets could be sold.

In 2016, the reit was generating $0.96 in FFO per share and $0.86 AFFO per share. In 2022, the reit is generating $0.47 in FFO per share and $0.47 AFFO per share.

Slate's management has failed to generate value for the shareholders. Their capital recycling program, which should have resulted in improved results over time, has lined up their pockets in fees while producing worse results than before, time and time again.

Selling the assets and realizing the NAV would be the best thing for shareholders, else what happens next? More recycling, more fees paid to Slate, lower FFO/AFFO, another dividend cut in 5 years?

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