Primaris Real Estate Investment Trust T.PMZ.UN

PMZ's 38 cents FFO , RIOCAN 42 cents

[SNAKEYBOY]

PMZ has much better balance sheet, and we got $13.55 versus $21.50.

[Frankie10]

Agreed. I had sold my entire position @ mid 15 to low 16. I'm buying back some here @13.31.

[materialsgirl]

Your story is not entirely clear. Did you sell before the spinout of Primaris. The old HR included Primaris Canadian indoor mall portfolio The valuation was roughtly; Primaris   26%   or let's say 25% New HR   74% or the balance. The current HR.un does not include. Primaris assets which are  now a new REIT which is owned by original HR unitholders mat

[Frankie10]

sorry if unclear. sold pmz post spin at mid 15 low 16 bought back as i said in low 13s, will flip in mid 14's if tightening still in effect when it gets there... if not, happy to hold and collect the yield at these valuations - helps with leverage/cash flow (pmz yield ~6p vs current borrowing cost 2-3p).  spin plus div was very accretive - would never have sold before. loaded up on hr

[SNAKEYBOY]

The dividend minus interest expense may not be very lucrative but most of these REITS CAN actually pay almost 2x the dividend from AFFO so they are being conservative.  Easily can bump dividends a bit in upcoming quarters if fundamentals improve