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Bullboard - Stock Discussion Forum True North Commercial REIT T.TNT.UN

Alternate Symbol(s):  TUERF

True North Commercial Real Estate Investment Trust (the REIT) is a Canada-based unincorporated, open-ended real estate investment trust. The REIT’s primary objective is to maximize total returns to its unitholders. Its returns include a stable, reliable, and tax-efficient monthly cash distribution as well as long-term appreciation in the value of its units through the effective management of a... see more

Bullboard (TSX:TNT.UN)

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Comment by BlueJay2020on Apr 21, 2024 2:49am

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:19.1 MILLION NET PROCEEDS

TDs @@@extrapolated estimate@ is completely irrelevant.
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Discussion
Comment by luscar99on Apr 20, 2024 10:25pm

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:19.1 MILLION NET PROCEEDS

The NAV was calculated by the company in their Q4 presentation. (Assets as per IFRS- liabilities)/ number of units A and B. $28.39. However, TD's estimated NAVs for the office REITS sector are ...more  
60
Discussion
Comment by EstevanOutsideron Apr 20, 2024 8:23pm

RE:RE:Company repurchased 13700 shares on Friday.

cumulative volume was over 50,000 if factoring in non tsx volume.
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Discussion
Comment by matt2018on Apr 20, 2024 7:41pm

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:19.1 MILLION NET PROCEEDS

due to this buyback strategy, the many retail investors who mostly support Reits wont buy this one. The main reason investors buy Reits is for the monthly income/distribution. So I dont see this one ...more  
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Comment by BlueJay2020on Apr 20, 2024 5:47pm

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:19.1 MILLION NET PROCEEDS

I inow the wuestion was rhetorical but unless my arithmetical accuracy is awry, NAV would be just north of $35 per share. Therefore 75 per cent off at these prices. 
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Discussion
Comment by luscar99on Apr 20, 2024 3:03pm

RE:Company repurchased 13700 shares on Friday.

Remarkable given the fact only 26.3k have been traded on Friday. Are they also buying on ATS or only on TSX ?
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Discussion
Post by Jkcocoon Apr 20, 2024 12:31pm

Company repurchased 13700 shares on Friday.

Hopefully daily repurchase can maintain above 13k till end of June! 
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Discussion
Comment by matt2018on Apr 19, 2024 9:28pm

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:19.1 MILLION NET PROCEEDS

Absolutely correct that the $61.4M is going towards the total debt. That is going to bring debt down to appr $763M. Thats 7.5% of the total debt going to be paid off by selling less than 4% (186k sq ...more  
99
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Comment by EstevanOutsideron Apr 19, 2024 8:52pm

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:19.1 MILLION NET PROCEEDS

agree large (9 figure) buildings are tough to sell but TNT's are very very well situated for the most part. i actually think the 81 white hall property in markham will be an easy sell, it'll ...more  
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Comment by luscar99on Apr 19, 2024 7:04pm

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:19.1 MILLION NET PROCEEDS

You're probably right about the debt reduction.  But probably wrong on the 2nd assumption. They sold what they could sell more easily. Mostly fully occupied small buildings. The larger ...more  
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Comment by BlueJay2020on Apr 19, 2024 5:38pm

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:19.1 MILLION NET PROCEEDS

The way I read the release, debt will be reduced by over $61M.  $19M is the surplus after the related debt is repaid. if these sales are representative of the whole portfolio (and you could ...more  
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Comment by luscar99on Apr 19, 2024 4:14pm

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:19.1 MILLION NET PROCEEDS

I agree with you that TNT.UN shares are good value under $9. But: - rate cuts in the next 6 months is unwarranted speculation. - the meager higher rental resets (if any) have been dwarfed so far by ...more  
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Comment by cooper90on Apr 19, 2024 1:23pm

RE:RE:RE:RE:RE:RE:RE:RE:RE:19.1 MILLION NET PROCEEDS

But mortgage interest costs should be midigated by higher rental resets, also the AFFO hit would be short term where as the 19,000,000 million in debt reduction would more than offset on a per share ...more  
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Comment by luscar99on Apr 19, 2024 11:50am

RE:RE:RE:RE:RE:RE:RE:RE:19.1 MILLION NET PROCEEDS

The AFFO/share will probably decrease due to asset sales, higher mortgage interest costs and other inflationary costs. The share count reduction will help, but I'm pretty sure it won't make up ...more  
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