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Timbercreek Financial Corp T.TF

Alternate Symbol(s):  TBCRF | T.TF.DB.D | T.TF.DB.E | T.TF.DB.F

Timbercreek Financial Corp is a Canada-based non-bank, commercial real estate lender providing shorter-duration, structured financing solutions to commercial real estate investors. The Company is focused on providing structured financing solutions to real estate owners and investors and acts as an alternative asset class investment manager. The investment objective of the Company is to secure and grow a diversified portfolio of mortgage and other loan investments, generating an attractive risk-adjusted return and monthly dividend payments to shareholders, balanced by a strong focus on capital preservation. The Company focuses primarily on lending against income-producing real estate such as multi-residential, retail and office properties. It fulfills a financing requirement that is not well serviced by the commercial banks: primarily shorter duration, structured financing. It works with borrowers throughout the terms of their mortgages to ensure that their capital requirements are met.


TSX:TF - Post by User

Bullboard Posts
Comment by ArbProfiton Mar 24, 2020 10:29pm
400 Views
Post# 30844137

RE:Undervalued?

RE:Undervalued?I have a large position in this one, and the debentures.

The three pubcliy traded MICs have all been crushed.  All of released business updates stating they yes, there is uncertainty, but their loans are low loan-to-value, mostly first mortgages etc.  With regards to TF, they can be seen as the most conservative of the three MICs, since more than half of their loans are to multiresidential buildings (rental apartments).

TF was trading a bit stronger than AI and FC until today, when a seller really pressured it down.  We'll see if that seller finshes tomorrow.

TF closed at 6.04, 68% of NAV (8.75)
AI closed at 7.56,  70% of NAV (10.88)
FC closed at 8.82,  80% of NAV (11.07)

I'm holding TF until it's back at NAV.  If this situation settles down and we return to a sense of normalcy, the hunt for yield should push it back up.  Currnet yield is 11.4%.

Good luck
Bullboard Posts