EUCMF - Eurocommercial Properties: Not All REITs Have Been Created Equal - The 20%+ Dividend Is Safe (In Theory)

Introduction

Commercial REITs have been hit hard during the COVID-19 pandemic, but some are performing better than others. Businesswise, that is, as most commercial REITs still have their share prices close to all-time lows, including Eurocommercial Properties (OTC:EUCMF), the Dutch REIT with assets in Italy, Sweden, France and Belgium. I haven’t always been positive about Eurocommercial as I don’t agree with the estimated fair value of the properties (which I think is a bit optimistic) and the REIT’s lack to propose an attractive stock dividend. Despite these two elements, Eurocommercial got way