Q: Just wondering what you think of the latest results
5i Research Answer:
Cash flow per unit was $1.27 vs estimates $1.25; revenue was $31.4M, below estimates. Still, the company provided a good outlook, with leasing improvements expected. Payout ratio is fine at 70%. It did take $33M of writedowns in the quarter. Net operating income rose nearly 5%. No fireworks here, but a decent outlook and we would consider things good with rates expected to fall.