RE:RE:RE:RE:RE:BuybackI'm with you on this. I like the fact that they are preserving cash to reinvest in upgrades to vacants units... longer term this pays off. Upgraded units will rent quicker, with higher future cashflow generation. Short term pain provides long term gain.
I've had this on a watchlist, but have been using this weakness to slowly accumulate a postion. Boardwalk is not a fly-by-night operation, they will be around for the next upturn in economic fundamentals in ABSK. Also, diversifying into other regions of the country is a good idea, my only concern with this is that by getting further into the ON, QC or BC market right now, they possibly may be acquiring assets in these jurisdictions at a peak... nevertheless, at least in Ontario, very little new rental accommodation is getting built, due to the insistence of Wynne's government to legislate rent controls, so longer term, the rental market should continue to remain tight, with low vacancy rates.
WDMBell wrote: Did you look as to why the trust is reducing the distribution? Long term investors will be rewarded if patience is exercised.