Slate Office REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 T.SOT.DB

Alternate Symbol(s): SLTTF | T.SOT.UN | T.SOT.DB.A | T.SOT.DB.B

Slate Office REIT (the REIT) is a Canada-based global owner and operator of workplace real estate. The REIT is an unincorporated, open-ended real estate investment trust. The REIT owns interests in and operates a portfolio of real estate assets in North America and Europe. The REIT's portfolio is primarily comprised of government and credit tenants. The REIT's portfolio consists of approximately 54 commercial properties located in Canada, the United States and Ireland. The REIT's Canada operations include Atlantic, Ontario and Western. The REIT is externally managed and operated by Slate Management ULC.

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Slate Office REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026

Bullboard Posts

Comment by paragonIon Mar 06, 2020 10:56am

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Post# 30775296

RE:RE:RE:BNN'S Andrew Moffs against SOT as secondary office market

paragonI wrote:

Capharnaum wrote:

wheeloffortune wrote: demands are declining with offices reducing their rental space requirements by up to 50% and they also hold 37% in Atlantic provinces. Downtown Toronto has a demand, but they don't own buildings there.

It was just general comments. Vision Capital are not bulls on office space. The only place they would be bull on office space would be downtown Toronto.

I like to think that market rents already incorporate the fact that firms are "reducing" their rental space requirements. Value of the buildings is based on rents also, which Slate has been able to successfully sell at higher than IFRS value (so higher than book value).

Considering the stock is trading at a 40% discount to book value, that they have sold all their properties at or above book value, that they are generating around 60 cents of cashflow per share each year at "only" 87% occupancy, you would think that would factor into the discussion about the stock value (beyond the "we are not bulls on office space).

For a deep value investor, Slate office checks off most boxes. with the addtiion of the distribution now being very very stable, even in the face of pandemic.

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