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Bullboard - Stock Discussion Forum 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... see more

TSX:TNT.UN - Post Discussion

True North Commercial REIT > AFFO is more important than debt
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Post by garyreins on Nov 01, 2023 2:38pm

AFFO is more important than debt

Who cares if their debt is 95%....if they are raking in AFFO of 0.44/year that means their cashflow after debt is positive, therefore providing rates dont go much higher or stay higher for years, they are profitable!
Comment by EstevanOutsider on Nov 01, 2023 3:09pm
they have to maintain below 75% to debt ratio for covenant requirements. but yes they are very profitable here and will be a huge winner if rates start falling as it looks like they will considering they already cut their distribution.
Comment by wheeloffortune on Nov 01, 2023 3:42pm
No they don't  Banks cannot refuse to renew a commercial mortgage if they're making their payments on time.  Debt ratio requirements are just for new mortgages.
Comment by EstevanOutsider on Nov 01, 2023 3:57pm
The Declaration of Trust provides that the REIT may not incur or assume any Indebtedness if, after incurring or assuming such Indebtedness, the total Indebtedness of the REIT would be more than 75% of Gross Book Value. As at December 31, 2022, the aggregate Indebtedness was approximately $850.4 million, representing 59.3% of Gross Book Value.
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