TSX:TNT.UN - Post by User
Post by giovincoon Mar 20, 2024 2:26am
192 Views
Post# 35942196
Deemed payout ratio at 73.6%
Deemed payout ratio at 73.6%Based on their Q4-23 AFFO and the dividend reinstatement at the same level before the redirection of funds, it seems that their payout ratio is ~74%. Which is not too bad, yet has gone up a little despite the NCIB.
AFFO per share in Q4 excludes shares cancelled in Q1-24 but they refinanced their mortgage at a higher rate so the positive will cancel out the negative, yet it may go up a little which should be fine.
As long as the interest rate is lower by the end of 2024, they should be fine.
I would have to say that their other occupancy and disposal performance results were mediocre. They could argue that it was good based on the market condition.
They could continue their ncib and reinstate ~14 cents per share monthly dividend in July.
It should be sustainable at that level and the share price would likely be around $17 per share, half of what it was before the turmoil at best. I would assume that only way to get even is buy more shares at this price.