Added to YB: 2024-11-27
Pitch date: 2024-11-26
TNT-UN.TO [bullish]
True North Commercial Real Estate Investment Trust
-15.9%
current return
Author Info
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Company Info
The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario.
Market Cap
CAD 162.6M
Pitch Price
CAD 10.58
Price Target
20.00 (+124%)
Dividend
N/A
EV/EBITDA
N/A
P/E
-13.95
EV/Sales
7.21
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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