Post by
garyreins on Mar 05, 2024 7:25pm
< 10x AFFO multiple
Like many REITS trade (HR 9x AFFO, Artis 10x, BTB 8.5x, office 3-5x) is a 10%+ free cash flow on the reit, 10 year US 4.15% and CAD 3.5% like seriously 6-7% spreads here.....even if rates are held here for sometime it should be enough of a margin of value. providing no sky high 2024 debt maturities reits will be able to sustain dividends.
wall street shorts dont want to give these guys a better multiple like 12-15x and 7-8% free cash flow where they should be right now IMO.
Time to sue wall street for using these reits has nothing more than financial instruments to take our $
Comment by
Torontojay on Mar 05, 2024 7:36pm
That's a pretty attractive yield with a 5% equity risk premium to the Canada policy rate. Not bad at all.
Comment by
garyreins on Mar 05, 2024 7:58pm
Thats what makes this past 7 week price action so mind boggling....with the prospect of CUTS by June!