TSX:MRT.DB.A - Post by User
Comment by
slston Jun 17, 2021 2:10pm
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Post# 33405271
RE:RE:RE:RE:Is this Burquitlam Plaza owned by MRT.UN?
RE:RE:RE:RE:Is this Burquitlam Plaza owned by MRT.UN?Actually, we do not have to look too far. Out side accountants (auditors) have to review City Assessments, Mortagage Appraisals and other Confirmation of values, including Lease agreements in place to arrive at Property values Every Quarter. Its called IFRS accounting. Gives you a rolling present value of the business.
At the last quarter, the Net Property (whole company) value was $18 per share. This is after the Covid write downs, that they will have to reverse over the next few quarters. The annual distribution befor covid was $0.96 per share for several years. If you divide that by 5% (generally the yeild on a mixed basket of REITS) you get $19 per share. Their quarterly cash generation is $0.30 or $1.20ish annually. Divide that at a cap rate of 6% for mixed, Office, Retail & Industrial you get $20 per share. Their Convertible debenture was at $20 per share. DEEP VALUE here People.