Post by
incomedreamer11 on Sep 05, 2023 6:07pm
Another distribution cut
Market expecting another distribution cut
From last report ( CAD $ thousands):
For the three and six month periods ended June 30, 2023 and 2022, there was a shortfall of cash flow from operating activities over distributions paid or payable mainly due to seasonal fluctuations in non-cash working capital, distribution on Class B LP Units that are recorded as a reduction of net income and comprehensive income and non-recurring items. For the three month period ended June 30, 2023, there was a shortfall of net income and comprehensive income over distributions paid or payable. The shortfall of net income and comprehensive income over distributions paid or payable is mainly due to unrealized fair value adjustments and distribution on Class B LP Units that are recorded as a reduction of net income and comprehensive income. The REIT financed the shortfalls using cash on hand and/or using the REIT’s revolving credit facility of $60,000 which bears interest at prime plus 100.0 basis points or bankers’ acceptance rate plus 200.0 basis points and/or planned normal course property refinancings.
Comment by
SNAKEYBOY on Sep 05, 2023 6:31pm
2 distribution cuts from this turd. Fire management
Comment by
ndiamond on Sep 05, 2023 6:54pm
I don't think there will be a distribution cut. Great time to be accumulating this one. Yield is over 9%.
Comment by
canadian on Sep 06, 2023 12:28am
Here comes the short seller telling lies. How low do you want this one to go? So that I can add more.
Comment by
incomedreamer11 on Sep 06, 2023 3:31pm
For anybody red flag when company pay distribution more than cash flow from operation For the three and six month periods ended June 30, 2023 and 2022, there was a shortfall of cash flow from operating activities over distributions paid or payable ( From CEO PRV.UN on last conference)
Comment by
canadian on Sep 06, 2023 4:07pm
Thank mf short seller. Added few more.
Comment by
incomedreamer11 on Sep 06, 2023 6:24pm
Same old story: when you have less from operation than your distribution and use debt to pay it, sooner or later you will force to cut distribution, Look. what happened with NHF.UN-TNT.UN-MPCT.UN etc, Everytime somebody try to average down, don't catch the falling knife. it down for some reason
Comment by
incomedreamer11 on Sep 07, 2023 9:29am
From last report (thousand CAD) 3 Months Ended June 30 2023 Cash flow provided from operating activities $ 619 Net income and comprehensive income $ 1,742 Total distributions paid or payable – Units (1) $ 6,643 Shortfall of cash flow from operating activities over distributions paid or payable $ (6,024) They using debt to cover shortage distribution cash
Comment by
canadian on Sep 07, 2023 10:18am
stop fake information you mf short seller Non-cash working capital is a form of working capital that may convert to money shortly, such as accounts receivables. This financial measure helps a company gauge its financial health and evaluate its turnover speed—the time it takes the company to convert its non-cash current assets into cash.
Comment by
Capharnaum on Sep 07, 2023 9:20pm
AFFO payout is the right measure for the distribution. As to changes in non-cash working capital, it's not an expense and it's not something recurring either, it's timing based mostly. AFFO payout is on the high side, but not necessarily in a "must cut" territory either.