TSX:WRK.DB.K - Post by User
Post by
canadafanon Aug 13, 2009 9:25am
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Post# 16215306
some calculations/WRK.UN
some calculations/WRK.UNThere are those who would call me extreme or over the top for saying this.That's OK!
My assessments are based on real numbers.
White rock REIT recently announced a new property , bringing their AFFO above the distribution.
What that means in simple terms the distribution is as safe as any other REIT.
and yet WRK trades at a huge discount.
As of Wed, Aug 12th, the average yield of REITS listed on the TSE is close to 11%.
WRK because of its low trading price yields 19%.
Do the math, brining wrk into line with the average would equate to a trading price of $29 /unit!
and that is just the average. Riocan for example trades at a 9% yield.
It will take a while and probably even a few quarters for the market to catch on..to get within the average.
I do feel however that before the end of this year, WRKs trading price will be in the $20s range!
The last comment is IMHO all else is factual