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@billybobjovialdechicoutimi Fight the good fight man. Those guys are total tools. Hopefully you prevail!

Fuzzy or hard to interpret financials and poor communication from management - seems like something to avoid. There are so many publicly traded real estate stocks. What do you like about this one? That of course doesn’t mean you shouldn’t ask questions. Thank you for sharing.

Yes, it is difficult to reconcile. That's something you might have to ask Investor Relations. I see the value of office as per chart above decline from $570M in 2022 to $518M in 2023. Around -9% or $52M. But in the annual report, it shows a FV decline of $27.5M Meanwhile industrial value went from $345M in 2022 to $440M in 2023. An increase of $95M. The property acquisition of $36M and $33M FV increase. There's still $26M unaccounted for. Is it possible they reclassified a property from office to industrial? Typically these assets are valued individually. Each property will have it's own assessment. The cap rates are essentially a summary of the inputs used. I'm sure the company has the details.

A bad day for the fans of share repurchases, but a nice day on the TSX60 waiting list, moving up 5 spots, passing 2 financials that are in the index (National Bank! and Sun Life), 1 financial that is in the list via Power Corp (Great-West Lifeco) and nipping at the heels of another, Intact.