TSX:NXR.UN - Post by User
Comment by
Lisagerrard17on Nov 30, 2021 5:18am
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Post# 34178872
RE:RE:An interesting Seeking Alpha article about DIR.un ...
RE:RE:An interesting Seeking Alpha article about DIR.un ...Larrymartin77 wrote: CanSiamCyp wrote: .... particularly the part about issuing secondary offerings above NAV as per the following excerpt:
- "Dream continues to issue stock above NAV, which essentially is a non-dilutive way to fund expansion, as the stock issues actually increase the NAV."
https://seekingalpha.com/article/4471336-dream-industrial-stock-a-4-2-percent-yield-from-a-growing-warehouse-reit?mail_subject=dreuf-dream-industrial-reit-a-4-2-yield-from-a-growing-warehouse-reit&utm_campaign=rta-stock-article&utm_content=link-2&utm_medium=email&utm_source=seeking_alpha
Since BMO provides the following statistics in their NXR.un update, we can assume that the secondary offerings have the same characteristics as the DIR.un offerings (i.e., non-dilutive and incremental to NAV):
NAV $11.50
Prem/(Disc) to NAV 9.9%
Great post, makes a lot of sense... thumbs up CanSiamCyp