GREY:SIHPF - Post by User
Comment by
DanielDarden123on May 02, 2019 1:41pm
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Post# 29701981
RE:CIBC
RE:CIBC Despite stability in underlying fundamentals, and strong tenant demand, Slate units continue to trade at a large discount (18% below NAV), more so than Canadian retail REITs (4% below NAV). The discount is greater for U.S. grocery- focused REITs which are trading ~20% below NAV on average. We chalk the SRT NAV discount up to the REIT’s above-average leverage and payout ratio. Progress towards deleveraging and lowering capital spending could help narrow the NAV discount.