TSXV:PAR.H - Post by User
Post by
Roxy27on Nov 06, 2015 1:08pm
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Post# 24267266
Leverage is up, Debt service coverage is down, asset value
Leverage is up, Debt service coverage is down, asset valueis down, Debt is up, for those who care!!
Shrinking asset base from sales makes it harder to cover platform costs, despite lower borring costs % wise.
This is the proplem for a REIT with no growth prspects and too much leverage.
A sale is only way to unlock value.
I have bought and sold multi million dollar commercial properties across Canada (not with my own capital).
By the way, Slate Office REIT, which I've recommended as an alternative to PAR previously, just reported 47% FFO growth and reduced AFFO payout to 78%. Leases renewed at 22.6% over existing rates.
Debt/GBV is 61.5% compared to 71.5% for PAR.
Yield is 10.5%, they are gowing and have only 3% exposure to Alberta.
Good Luck