Post by
SNAKEYBOY on May 31, 2022 10:01am
How long do you let a REIT trade at $8 off, $1 billion off
NAV. Before you say "screw it", sell assets and return $22 to shareholders and go home
Comment by
HermannHaller on May 31, 2022 10:42am
Unfortunately there are many REITs trading well below their NAV. AX, MRG, MRT, FCR come to mind. FCR just announced a new buyback plan to try to close the discount. AX has been aggressive with its NCIB for awhile. I'm not sure what PMZ can do to separate itself from the pack.
Comment by
SNAKEYBOY on May 31, 2022 10:54am
Discounts are expected, but 40% is a bit extreme....this should be at $16-18
Comment by
HermannHaller on May 31, 2022 12:06pm
FCR is at 37%, with a better portfolio and a long track record. I'm not trying to bash PMZ, but there are many bargains in REITs these days. GLTA