True North Commercial REIT T.TNT.UN

No distribution!

[CanSiamCyp]

Patiently waited for 6 month cessation to end!

Extended for 3 months ... still waited!

Now extended again!!!!

TNT units will be sold for tax loss harvest .... and funds put to better use elsewhere!

Beginning to think TNT is acronym for Turdo No Truth!

Must be Lieberal supporters on Board!

[Jkcoco]

Are you sure you don't want to wait? Their affo per share was really good. For full year it's over $2.5 per share. If they pay $2 dividend per share, that's over 20% dividend yield. 

[CanSiamCyp]

Ha ha! If you truly believe they will ever pay you a 20% cash distribution .... then I have a friend willing to sell you some prime swampland real estate. Lol! As my dear old grampa used to say ..   "fool me once shame on you .... fool me twice shame on me!". This constitutes #2! Sayonara!

[BlueJay2020]

You happen to be right on this occasion.  They would never pay out at a 20% rate because the SP would rocket immediately and cut the effective yield dramatically. We're only talking about 20% at all because the market has severely punished the stock for it's perceived high debt load.  But interest rates are falling fast.   Such a shame to have stayed the course so

[CanSiamCyp]

You are correct! I hold $1.5 M in APR.UN BTB.UN DIR.UN HR.UN PMZ.UN NXR.UN and PRV.UN .... all performing better than this p.o.s.!

[Jkcoco]

I'm saying if you were to buy at the current price, and hold until they reinstate the dividend, you would get over 20% return from your initial purchase.  of course the market would look at this favourably and increase the share price, giving a lower yield on the new share price.  Daniel drimmer has all the incentive to increase the share price since he has lost millions due

[CanSiamCyp]

Speculate all you wish .... and while you're at it .... do you care to speculate how much unit price will drop tomorrow? 5%? 10%? 20%? On the other hand ... if the results reported in today's Q2 report are true .... then we should see a 20% increase in unit price. Don't hold your breath! I have been a TNT unit holder for 8 years .... my patience has expired irrevocably!

[BlueJay2020]

Impossible to predict unless you tell me whether you are going to sell half your shares or all 50 of them.

[CanSiamCyp]

I am pleased that I was wrong about a unit price collapse today! Perhaps most income investors already exited TNT in past months and this has become a target for value investors. I do not require the free cash until Oct. .... so I hope that the NCIB will increase the unit price before I liquidate my 9,327 unit holding.  Hope you will be available on the Buy side .... when I press the Sell

[BlueJay2020]

Good decision.  A massive drop was never on the cards based on those results and continuation of the buyback strategy.  The vast, vast majority of dividend seekers have long gone by now so the lack of a distribution was a non-issue.   You've got me curious now as to what your book value is.  If you hold nigh on 10,000 shares, if you've held them since before 2023

[CanSiamCyp]

TNT.un 9,327 units Purchases 2018 (1x) and 2023 (6x) .... in attempt to "average down" as you said Held in Non-registered account ... to take advantage of 100% RoC characterization of distribution Purchase Cost $189,437.67 ACB $140,420.79 (reduced due to application of annual RoC payment) Unit ACB $15.0553 At less than 1% of total portfolio value, this one has become more of a

[matt2018]

I believe company on right track. Not many options really. As they renew their $750M mortgage debt over the next few years at higher rates (they just renewed $7.7M mortgage at 5%/5yrs on July 26, which seems a good rate considering), the AFO will continue to go lower unless you raised rents to match those rate increases. That is difficult to do in office right now.  Your fortunate to just get

[Jkcoco]

They paid $1.71 dividend prior to cutting entirely. Why is it not possible they reinstate the same amount again? 

[BlueJay2020]

Annualized AFFO per share will continue to grow for the final 2 quarters as a) more shares are repurchased - at least up to Q3, but I suspect Q4 as well, depending on SP and b) previously purchased shares start to factor more heavily in the weighted calculation of share count.  It would be foolish to sell at this point, and ignore the free cash flow that the business continues to generate