Q1 Highlights - amazing quarter!Fanstastic quarter by all the right metrics. here is the highlights.
1. $21.06 NAV this quarter vs $17.70 in Q4.21. Driven by externally appraised third party appraisals & actual transactions, development gains realized and NCIB buybacks.
2. 19% same property operating inome growth (maybe around 10% adjusted for the Hess & Jackson property which had weren't stable in 2021)
3. Affirmation they will continue to buy back NCIB
4. Solid leasing progress and development progress
5. 6% distribution increase to 55 cents a share which will be 4.5% dividend yield, while keeping a 50% payout ratio (i.e. another 55 cents will increase NAV every year)