True North Commercial REIT T.TNT.UN

Upcoming quarterly report opinions welcomed!

[cooper90]

Been a holder pre-consolidation and have accumulated more since the divi cut and NCIB announcement. Haven't bothered posting but view the posts pretty regularly, also I appreciate the NCIB updates from those on the board sharing.

We are a few weeks away from the first quarterly report since the divi cut, share consolidation and of course NCIB buying and cancelling shares monthly. 

My view, TNT will annouce and reinstate a monthly dividend to start May 1st (IMO), but it will be set taking approx. half or less of the current monthly funding used right now to buy-back shares using the NCIB. Meaning 4-6 cents monthly 48-72 cents annually divi. This at the current share price range of $8.40 would be at or less 7-8% yield. 

The remaining funds currently used after cutting the old divi will continue to be used buying back shares monthly using the NCIB. This new divi + NCIB adjustment comes from 100% of the divi funding prior to the cut which was still below I believe 70% payout. This still leaves money to continue to pay down debt quarterly. 

I hope this new combination of divi + NCIB will provide a pop to the stock back above $10-$10.50 supporting a good floor on the divi percentage of under 8% yield. 

That all said, the actual earnings (with less cancelled NCIB shares) + resigning tenants at higher leases as well any clean up on property sales, I am hoping will be well received and support not only a bottom but a gradual increase after the initial pop on earning success and divi reinstatment. 

That coupled with interest rate cuts throughout the year in Canada starting in June should bode well for increased earnings in the next 2x quarters with additional improvements. 

Those are my thoughts I welcome other opinions, its a lot of ifs.....and wishful thinking but I think at pre-consolidation today around $1.44 (x5.75), we must be at the bottom here even the technicials are looking over-sold.

Cheers, 
Cooper