True North Commercial REIT T.TNT.UN

Dividend cut coming ?

[incomedreamer11]

Like I posted before ,they are paying dividend from borrowing money, not from operation

They need to cut dividend as soon as possible to stop bleeding 

Starlight asset managment has 4 public - traded company, two of them already cancelled dividend

Only two left - True North( TNT.UN) and Northview Appartment(NWH.UN) ,

both company have unsustainable dividend policy

Managment shouldn't wait next AGM to make decision 

[Lyburnum]

A dividend cut is going to send this reit tumbling further down even more though... 

[rabnud]

there  net income is 8 million and paid out 13 million last quarter

[JocetooBad]

This is true as a snapshot of Q3 2022, but looking at 2022 YTD the income is $43M, compared to distributions of $41M. The payout ratio is still under 100% overall and to me it doesn't look like an urgent divident cut is needed. It'll depend how long the higher interest rates will last in my view. The stock has already been beat as if a dividend cut had occurred.

[rabnud]

was talking only about 3rd Q results it very clear they paid out more $$ than they earned

[my2pennies]

What one earth are you guys going on about?!? Decisions to raise or cut a REITs dividend are made based the payout ratio on the current  FFO (usually the adjusted FFO) and forecasts of future AFFOs.  And TNTs year to date AFFO increases provides confidence in TNT. By The AFFO payout ratio for Q3 was 97% so not ideal but far from dividend cutting territory. Using income alone  a

[pandsca]

I agree. If you also look at the history of TNT, they've gone for relatively long periods of time at 0.0495 while the SP was this low (and even lower) withouot cutting the DIV. The only time they ever cut the div in the whole history of the stock was one month after introduction. I've just bought more and will continue to pick up more at these prices.

[rabnud]

they need about 52 million in net net earnings to pay the distribution every 12 month period  the question is  the current income enough to meet the requirement 

[bcsc]

When determining their cash requirements are you accounting for the DRIP?

[rabnud]

to me a drip system is like a ponzi  all they do is reduce the book value of each share 

[bcsc]

So, is that a yes or a no?  I can't recall the participation rate for the DRIP offhand, anyone have a number. I don,t recall seeing it on the last quarterly, but recall seeing it previously reported.

[rabnud]

I have no idea all I know is just not revoved since the big downfall early this summer

[rabnud]

should read  "recovered " I tryed to figure out how many drip shares are issued each month and cant find any informations

[bcsc]

I find the DRIP to be more shareholder friendly (and cheaper) than raising capital through a public offerring every 6 months.

[Vicit11]

Look here, page 21: https://truenorthreit.com/index.php?preview=1&option=com_dropfiles&format=&task=frontfile.download&catid=47&id=188&Itemid=1000000000000

[rabnud]

page 21 of what brochure

[my2pennies]

No they aren't. What you are posting is complete rubbish. Learn how to read a financial statement. 

[incomedreamer11]

next will be NHF.UN