TSX:TNT.UN - Post by User
Comment by
EstevanOutsideron Nov 13, 2023 12:10pm
166 Views
Post# 35732129
RE:RE:RE:Market Reality
RE:RE:RE:Market RealityCould be, but their results reflected their comments to me and others. Financing up to Q3 was down at 6%, you don't get those kind of rates if the banks do not want to deal with you. The National Bank report by lazy analyst Kornack will be disproven tonight in my view. So we'll see.
CEO & trustee both spent over $1 million on units at over double the current trading price. I get both those guys are rich out of their mind but still a nice statement of confidence in the REIT.
Overall, having analyzed their properties, I have a high level in confidence in their valuation here. They have very strong properties mostly in very good areas (near highway 407, 401) in Toronto which are likely trading below what they could be sold for conversion plays.
Implied value of TNT entire portfolio is around $200 per square foot, that's ridiciulous for the quality of properties they have.