RE:NCIB and Melcor REITLongrun,
i have no idea what are the legal right of Melcor and it's REIT. But you can look not far with Morgard (mrc) and it's commercial and office Reits (MRT.UN).
- mrc buy it's own share with a NCIB and buy MRT.UN in the stock market ...they been doing that since the onset of the pandemic.
So base on that, probably Melcor could buy as many shares of it's REITS....
I personally own shares of Melcor and it's REIT, but the amount is 10 time bigger in Melcor (mrd).
I like the fact that Melcor act on it's NCIB every morning in the stock market, using the maximum daily amount of shares that it can buy (1617 shares).
the quarterly dividend is not ngligeable either! In fact it's been growing and now is at it's highest in history!
2024 looks good base on the fact that oil price is over 60 bucks us$ and they are keen to re-zone land optimal development specifically in the Calgary area.
Sometime it takes years for the stock market to wake-up and re-rate the stock price of the underlying.
just look at Hammond Manufacturing (HMM.A), it took years to start to re-rate in fact 10 years since my first buy...
and Yes us shareholders we are in the business of getting rich as fast as possible and yes the board of directors of Melcor should not just look at ways to unlock value but as well act on it!