Added to YB: 2024-11-27
Pitch date: 2024-11-26
TNT-UN.TO [bullish]
True North Commercial Real Estate Investment Trust
-15.49%
current return
Author Info
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Company Info
True North Commercial Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust.
Market Cap
CAD 121.7M
Pitch Price
CAD 10.09
Price Target
20.00 (+134%)
Dividend
7.98%
EV/EBITDA
N/A
P/E
-3.73
EV/Sales
6.61
Sector
Office REITs
Category
value
Value in a Canadian office REIT at less than 5x AFFO - True North Commercial Real Estate Investment Trust
TNT-UN.TO: REIT with 40 properties, 4.6M sqft, focused on gov't/credit tenants. Suspended dividend, buybacks 11-12% in 2025. Catalysts: Canada rate drop, office recovery, buybacks, dividend reinstatement. Risks: tenant loss, debt burden. Est. $16-$20 by 2025, 30% IRR over 2 years. 80% TBV exit = 40% IRR.
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