TSX:SRU.UN - Post by User
Comment by
logicandinertiaon Oct 24, 2020 1:28pm
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Post# 31776803
RE:Dividend Increase?
RE:Dividend Increase? Respectfully, I think the likelihood of a dividend increase is close to 0. With Ontario locking down again in regions, and the bevy of retailer bankruptcies announced, it would be imprudent to even think about an increase . Furthermore, this is a levered entity (as are all REITs), and banking partners wouldn't sanction it (as they do have leverage covenants to worry about).
that being said, I am LONG and think they have amassed an impressive track record and the mixed development platform is value accretive over time. The next several months will be noisy, as they do have exposure to struggling restaurants, gyms, and retailers. The land amassed by SRU is valuable and I expect density in the GTA to increase when the immigration taps are turned back on in 2021 by the Liberals. Good for their locations and mixed development potential...patience will be rewarded (I hope).
good luck .