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True North Commercial REIT T.TNT.UN

Alternate Symbol(s):  TUERF

True North Commercial Real Estate Investment Trust (the REIT) is a Canada-based unincorporated, open-ended real estate investment trust. The REIT is primarily focused on creating value for unitholders through the investment in and ownership of commercial properties in Canada. The REIT’s primary objective is to maximize total returns to its unitholders. Its returns include a stable, reliable, and tax-efficient monthly cash distribution as well as long-term appreciation in the value of its units through the effective management of a portfolio of commercial properties. The REIT owns and operates a portfolio of about 40 properties consisting of approximately 4.6 million square feet in urban and select strategic secondary markets across Canada focusing on long-term leases with government and credit-rated tenants. Its properties include 36 and 38 Solutions Drive, 500 Beaverbrook Court, 61 Bill Leathem Drive, 675 Cochrane Drive, and 1112 Fort Street, among others.


TSX:TNT.UN - Post by User

Comment by pierrelebelon Aug 08, 2024 11:01am
127 Views
Post# 36169468

RE:RE:RE:RE:Distribution cut

RE:RE:RE:RE:Distribution cut
Holden22 wrote "... regular dividends was 2022 and $48.6 m was paid in common dividends...."

And that is the source of the problem..

Operating income for 2022 was $16.23 million - that is $32 million less than distributed to unitholders.

It explains why the distribution had to be cut.

Eventually the REIT sector will improve, so will TNT and its ability to restore a monthly distribution.

If a unitholder cannot wait six or twelve months for the distribution to be reinstated, they should sell and move their money somewhere else.  On the other hand unitholders showing patience and confidence in management will be rewarded... eventually.

Patience needed.


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