Post by
DanielDarden on Jan 11, 2025 12:37pm
Stepping Up Again!
Opportunity is in the eye of the beholder. With U.S. bond yields up again some are forgetting that Can. has already lowered rates substantially. CMHC backed mortgages (90%) offer lower rates and debt is being reduced at the same time. Discount to NAV/u is ~50% and a well covered yield of 7.5%. The cut in immigration will affect large urban centres only IMO. Adding on weakness!
Comment by
EstevanOutsider on Jan 11, 2025 1:10pm
i added 1000 shares yesterday. fell more after i bought but that's the way she GOES. very big position in it now. have been adding on weakness for months under $15 which hasn't normally lasted very long. trading at 7.8% implied cap, 46% discount to nav post cap rate writedowns, well covered distribution and zero toronto exposure. have it at $133k per unit which is insanely low.