TSX:PMZ.UN - Post by User
Comment by
Mephistopheles3on Aug 04, 2022 11:52am
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Post# 34871244
RE:CONFERENCE CALL
RE:CONFERENCE CALLI listened to the whole thing - to be honest, not too much you haven't heard before or can just read in the reports.
- Key point was that they understand the math on the NCIB quite clearly and believe that's the best use of funds right now (as opposed to buying other properties).
- There was some interesting stats on how their tenants are recovering which is helping fuel their activity.
- During Covid and even now as tenants are recovering, they had a lot of short-term leases at lower rates so that they can renew at higher rates once the retailers get back on their feet.
- They also mentionned possible capital recycling to fuel NCIB, but woudn't hold my breath on this.
I increased position earlier this morning before the recent spike. Happy to collect my 6% distribution which I judge at pretty low risk here on top of the NOI growth.