BTB Real Estate Investment Trust T.BTB.UN

Primary Symbol: T.BTB.DB.G Alternate Symbol(s): T.BTB.DB.H | BTBIF

Real Estate REIT - Diversified

BTB Real Estate Investment Trust (the Trust) is a Canada-based real estate investment trust (REIT). The Trust’s primary objective is to maximize total return to unitholders, to generate stable monthly cash distributions that are reliable and fiscally beneficial to unitholders, to grow the Trust’s assets through internal growth and accretive acquisitions, and optimize the value of its assets through dynamic management of its properties to maximize their long-term value. The Trust invests in industrial, off-downtown core office and necessity-based commercial properties across Canada for the benefit of its investors. The Trust owns and manages approximately 75 properties, representing a total leasable area of approximately 6.1 million square feet. The Trust operates through three segments, which include Industrial, Off downtown core office and Necessity-based retail. The Trust’s operations are located in the provinces of Quebec, Ontario, Alberta and Saskatchewan.

TSX:BTB.DB.G - Post by User

BTB Real Estate Investment Trust

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Post by garyreinson Apr 23, 2024 9:40pm

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Post# 36004364

My view

I view BTB getting a cheap AFFO multiple not due to management, but because the debt is high (60% GBV) and high NOI from office, so its better than office reit but cheaper than say HR/Artis as a diversico.

I am not against better governance but overall BTB has been pretty rock solid past couple years relative to its peers. If it can maintain that stable AFFO and grow it to support this juicy dividend, it will no d oubt get back to $4+ in a heartbeat when reits get back in favor!

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