PPRQF - Choice Properties: Ending 2020 On A Strong Note The 5.9% Dividend Yield Is Safe

• Choice Properties generates about 60% of its rental income from related parties, which means the counter-party risk is low.
• Collecting about 98% of the rent is a good achievement and will help to protect the dividend.
• The dividend is covered by the AFFO, but there isn't much room for error.
• I expect the payout ratio to decrease as Choice continues to improve rent collection results while two new residential assets will start contributing.

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