This REIT was started in 2012 by Daniel Drimmer. Although it has properties in major cities like Toronto and Calgary, the main focus is on secondary markets “that have fallen below the threshold of larger Canadian commercial REITs”.
Income Investor
Management said that at the end of the third quarter, the units had a net asset value of $4.97. That meant they were trading on Nov. 13 at a discount of 56.5% to that number. This discrepancy supports “the buyback of units as a very attractive use of the REIT’s capital,” management said. That may be true in the long run, but it will take time for this strategy to unfold. In the meantime, there is no cash flow. It’s an untenable position for income investors. - Gordon Pape
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TNT.UN was first recommended here on October 16, 2016