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 portfolio of commercial properties. The REIT is focused on creating value for unitholders through the investment in and ownership of commercial properties in Canada. The REIT owns and operates a portfolio of approximately 44 properties consisting of approximately 4.8 million square feet in urban and select strategic secondary markets across Canada. Its properties include 9200 Glenlyon Parkway; 36 and 38 Solutions Drive; 1595 16th Avenue; 855 8th Avenue SW; 5775 Yonge Street; 6 Staples Avenue; 845 Prospect Street, and 551 King Street.

TSX:TNT.UN - Post by User

True North Commercial REIT > 20% dividend is not enough to entice some buyers

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Comment by EstevanOutsideron Oct 30, 2023 3:42pm

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Post# 35707903

RE:RE:RE:RE:RE:RE:RE:20% dividend is not enough to entice some buyers

TNT has the ability to keep the yield in place as they already cut it. Fundamentals improved since they cut it and they had a lot of successful releasing while discarding a couple obsolete properties and now selling another one nearly completed vacated which will free up liquidity.

Michael Emory made good remarks on Allied's call last week which the market liked regarding the distribution. TNT has good leeway in the short term on the distribution. I think it's safe until 2025 if rates stay where they are. Maybe more if they can keep up good leasing momentum.

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