Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

True North Commercial REIT T.TNT.UN

Alternate Symbol(s):  TUERF

True North Commercial Real Estate Investment Trust (the REIT) is a Canada-based unincorporated, open-ended real estate investment trust. The REIT is primarily focused on creating value for unitholders through the investment in and ownership of commercial properties in Canada. The REIT’s primary objective is to maximize total returns to its unitholders. Its returns include a stable, reliable, and tax-efficient monthly cash distribution as well as long-term appreciation in the value of its units through the effective management of a portfolio of commercial properties. The REIT owns and operates a portfolio of about 40 properties consisting of approximately 4.6 million square feet in urban and select strategic secondary markets across Canada focusing on long-term leases with government and credit-rated tenants. Its properties include 36 and 38 Solutions Drive, 500 Beaverbrook Court, 61 Bill Leathem Drive, 675 Cochrane Drive, and 1112 Fort Street, among others.


TSX:TNT.UN - Post by User

User Avatar Image
(1)
•••
  • Holden22X
Comment by Holden22on Aug 08, 2024 12:22pm
152 Views
Post# 36169645

RE:RE:RE:RE:RE:Distribution cut

RE:RE:RE:RE:RE:Distribution cutno argument with you on the math. you are right, it was required.

I can see the long term value they are building but keep in mind this is a reit, a vehicle made for stable income distribution, as articulated by the reit consistently since they started back in 2012. They have the ability to pay a small dividend comfortably and they are choosing not to do so.

It is safe to say the market currently does not see value in the NCIB in the same way management sees it - the percentage of shares cancelled has not translated to an equivalent share price appreciation. If you concede that point, you could say management is choosing to continue in this course of action knowing it will be detrimental to shareholder value in the short term and these are shareholders who have been beat up and endured a steady decline over the last 5 years; I mean $43 to $8.60 is rough.  

Management seems to be willing to grind their shareholders patience down into a fine pulp. I am not certain all will be forgiven when a dividend is restored but I am hoping it will be a meaningful bounce. I look forward to getting some value back when it is restored and I'll move on my way. Here's hoping its 6 months away and not 12! Good luck everybody
<< Previous
Bullboard Posts
Next >>