SmartCentres Real Estate Investment Trust T.SRU.UN

An interesting one

[logicandinertia]

Listened to the conference call.  They are juggling a lot of balls but this one has some legs IMO.  

Called out $70 million in forecast profit from Transit Towers over the next year, or in excess of 0.40 per share in incremental FFO.  Have collected 85 percent of July and once CECrA payments come in and deferred payments are repaid expect 91-92 percent of q2 rent and 94-96 percent of July rent to have been paid.  

For better or worse , density in the GTA will only get worse and their mixed development centres do fit nicely here.  

very adamant on call that management thought distribution was sustainable.   

for the patient souls, and in an environment of continued low rates, 2-3 return could surprise IMO.

good luck...

 

[logicandinertia]

2-3 YEAR return could surprise i meant 

[shawshank2]

Logic i agree it def has some good potential. My worry is collections #s are reliant upon government cerca(?). My issie is that a) i feel the remaining 25% may end being impaired as political climate always punishes the landlords which makes tenants even less motivated to pay now/ later B) when gov grant runs out we will continue to see further bankruptcies etc. And at some point that could put

[logicandinertia]

To be frank, if you actually believe in these eventualities, don't go near REITs. my thesis is predicated on: (a) faith in Mitch and the continued move toward mixed development centres. (b) the worst of covid is behind us, as illustrated by the case numbers. Govt restrictions will continue to recede. (c) cost of capital remains low, even after covid and refinancing are getting done on

[Tommy123]

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