Whiterock Real Estate Investment Trust T.WRK.DB.K

As a potential value/income investor...

[gwplant]

Maybe someone can explain to me as a value/income investor why I would want to invest in a company that paid out .425 cents for the quarter yet had only an AFFO of .32 which means they did not bring in enough to cover the distribution for the quarter and had a payout north of 100%

Anyone care to explain why this is anything but bad news all things considered?

Thx

[canadafan]

AFFO includes depreciation , which is a non cash expense.Q4 had some exceptional event (ie tenants going bankrupt etc), which have been corrected for.If you check out RioCan , Canada's largest REIT , touted by many analists they also pay out more than AFFO.WRK is growing into its distribution, that is good news.WRK is lowering its debt ratio, that is good news.BTW I still hold some RioCan, and

[alder]

Hi Canadafan :I also am a big fan of Whitercock, but was somewhat disappointed in the results today. Although one quarter is not enough to base to much on. It seems like for about the last five or six quarters, they announce, or we interpret, that in the next quarter the AFFO is going to cover the distributions. Hasn't got there yet. However their continuing to purchase new properties is

[gina_cobb]

From the last financials"DistributionsThe Trust makes distributions on its units in accordance with the Declaration of Trust, at the discretionof the Trustees. It is the intention of the Trust, although not a requirement, to distribute all net incomeand net realized capital gains in order to eliminate Whiterock’s liability for tax under Part I of the TaxAct. Distributions in the amount of $15

[baudelaire]

Canadafan:"AFFO includes depreciation , which is a non cash expense."How non-cash is this:“The building has undergone over $20 million of improvements over the last 7 years including new lobby and atrium areas, new windows, upgraded HVAC equipment, and significant tenant area improvement.”That's from WRK's news release related to the West Mall acquisition.  It shows that