Q2 results - strong free cash flowBRE continues to benefit from a strong Cdn real estate market. Revenues and cash flows are up big from Q2 last year. The number of realtors is also growing, with more than 500 added YTD.
Since Q2 last year was hit by the pandemic, it makes more sense to compare the results to Q2/19. Even on that comparison, distributable cash flow was up 31%.
The payout ratio for Q2 was 68%, and the current yield on the stock is 8% (at yesterday's $16.85 close). If anyone knows of another stock with an 8% yield and a payout of under 70%, please tell me, I would really like to know.
Q2 results