Cominar Real Estate Investment Trust Unit T.CUF.UN

RE:RE:RE:What's a good entry point?

[Galove]

Personally think the numbers are terrible with the low rent collection rates at 46% -- very concerning, but should change going forward.

Unless you are a gambler I would wait a few days before buying as investors and analysts will be digesting this over the weekend. Currently do not own shares in CUF.un, but once the price stablizes (I estimate in the low 6$ area) it is worth taking a position even with the dividend cut in half. Like other REITS it had to be done with given the payout ration was exceeding cashflow. As noted by others REI.un was beaten down and TD posted a research note on 30 July showing it to be a good entry point. (Precis of the analysis for REI.un below). I am waiting to see what the TD Analysts have to say about CUF.un which should come out on Monday or Tuesday. 

REI.un: Despite the sharp recovery in rent collections, RioCan's unit price is still down the most since February 20th (by over 40%) among all retail-focused REITs and up only marginally from its late-March lows. While further progress is required for NOI and AFFO to return close to pre-pandemic levels, we believe the visibility has greatly improved. At 35% below NAV, we continue to see today's unit price offering above average upside potential for investors.