I’ve been doing some stock research on the Canadian side and have been doing a little in the REIT sector and generally finding very little. However, of note was this press release from BTB REIT (TSX: BTB.UN) which caught my attention. Note the bolding of font below is theirs and not mine:
BTB’S payout ratio stronger than ever!
MONTREAL, Aug. 13, 2013 /CNW Telbec/ – BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB” or the “Trust”) releases today its financial results for the second quarter ended June 30, 2013, and announces the following highlights:
HIGHLIGHTS OF THE SECOND QUARTER OF 2013
66 properties
Over 600 tenants
4.5 million sq2 of leasable area, rental income growth of 24%Improvement of:
Payout ratio to 76.7% from 92.5% in 2012
Weighted average contractual rate for mortgage loans payable, from 5.15% to 4.67%
The message here is “Our payout ratio is higher, invest in us!”
I will leave it as an exercise to the reader why I would not invest in BTB.