Cominar Real Estate Investment Trust Unit T.CUF.UN

Primary Symbol: CMLEF

Real Estate REIT - Diversified

Cominar Real Estate Investment Trust is a Canadian REIT involved in the ownership and management of properties throughout the Canadian provinces. Cominar's real estate portfolio comprises a mix of office, retail, and industrial and mixed-use properties. While industrial and mixed-use assets are the most numerous and command the most square footage in the company's portfolio, office and retail locations combined represent the vast majority of the portfolio's total value. Most of Cominar's properties are located in the Greater Quebec City and Montreal areas. The company derives nearly all of its revenue from rental income from its investment properties. The source of this revenue is largely split between Cominar's office and retail locations.

OTCPK:CMLEF - Post by User

Cominar Real Estate Investment Trust Unit

Bullboard Posts

Post by Bobbymeon Aug 14, 2017 1:32pm

229 Views

Post# 26579047

New td comments.....

For those who have ther report in td waterhouse account
but heres the conclusion

TD Investment Conclusion

While Cominar's Q2 results were below our forecast, we view the distribution cut and DRIP suspension positively. The ~$60 million/year of cash that we estimate the REIT will retain as a result of the cut, can be redirected towards more prudent uses such as debt reduction, capex projects, and developments. At current prices, we also believe the REIT may institute an NCIB. We maintain that Cominar has built a portfolio that should generate mid-single digit AFFO growth over the medium to long term and we expect a return to positive SPNOI growth in H2/17. We believe the current valuation represents an attractive entry point based on the REIT's risk/reward profile. We are maintaining our BUY rating and $14.50 price target.