TSX:SRU.UN - Post by User
Comment by
Frankie10on Jun 08, 2022 7:20pm
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Post# 34742026
RE:RE:Potential unit buybacks
RE:RE:Potential unit buybacks i agree free cash flow is tight - hard to see buybacks ontop of ambitious development. i literally made this exact argument which you ignored.
small fact check to your rant:
walmart represents 25.4% of gross rental revenue and 40.9% of gross leaseable area.
furthermore, there q-over-q growth from q4 2021 to q1 2022 from 201.3M to 205.2M (2% q-over-q or 8% annualized).
full disclosure - i have a very small position here and expect to buy into heavy blood.
gashole wrote: And another comment - Walmart has them by the short and curlys. there will be NO organic growth from Walmart rents, thats a joke. Walmart is not going to take any increases in rent from SRU when inflation is 8 or 9%. SRU needs rent increases from Walmart in a BIG way, Walmart has roughly 50% of rental space of SRU properties, and pays roughtly 25% of rents. Thats a joke, and you can see that based on this SRU is getting screwed over by Walmart. That analyst saying organic growth from Walmart is a freaking joke. and then the buyback comment lol... That guy is brain dead.
martin020 wrote:
RBCRating: Outperform Price Target: 35.00 Competitive tension building; buybacks possible Our view: Post in line Q1 results, we remain constructive on SRU. As the tug of war between rising rates, elevated inflation, and a potential economic slowdown continues, we see SRU as a good spot forshelter. Indeed, asfundamentals continue to recover, we expect its defensive Walmart anchored portfolio to deliver steady organic growth. As well, its substantial mixed-use development pipeline provides visibility into sources of FFO and NAV upside for yearsto come, while potential unit buybacks could provide some near-term support. Maintaining Outperform, $