Post by
MyHoneyPot on Jun 24, 2024 9:31am
Inflection Point, time to buy in my opinion
11.73% return, $1.80 per year. 83% payout ratio
FFO(1) was $81 million (57.8 cents per unit), in-line with $81 million (58.0 cents per unit) in the comparable quarter last year. AFFO(1) was $75 million (53.7 cents per unit), up slightly from $74 million (53.3 cents per unit) in the comparable quarter last year.
This resulted in FFO and AFFO pay-out ratios(1) in the first quarter of 77.8% and 83.8%, respectively
So even if they cut their dividend by 10% to $1.62 a year, the payout ration would drop to 70% to 76%.
You would still be left with a 10.5% dividend.
So maybe their plan is to eliminate all debt, or put a share buyback in place makes the most sense, with share earning almost 12% there has to be a few nuggets in there that could make a significant difference.
Seems like a screaming buy to me.
IMHO