TUERF - True North Commercial REIT: 3 Reasons We Are Not Buying
2024-04-01 21:32:03 ET
Summary
- True North Commercial REIT has rebounded off the 2023 lows.
- The recently released results had something for the bulls and the bears.
- We go over them and tell you why we are not putting this on our Slate.
On our last coverage of True North Commercial REIT ( TNT.UN:CA ) we recognized that the price drop had reduced some of the risks and hence gave it an upgrade on our "potential pain" scale. We also applauded the unusual strategy of using potential distributions to buy units rather than actually pay it out to investors. All that said, we refused to move this to a "buy" as the risks were too high. True North has done well from that point and kept in line with the iShares S&P/TSX Capped REIT ETF ( XRE:CA )...
True North Commercial REIT: 3 Reasons We Are Not Buying