Q: what is the reason for the price drop today and recently? Is it a buy at this price? Thanks
5i Research Answer:
GRT.UN has proposed a corporate reorganization to unwind its stapled unit structure. This was set up to better utilize its tax losses, but these have now been mostly utilized. We would consider the move a net positive for the company but not dramatically so. But this news was out several days ago, and the only news yesterday was the declaration of its regular distribution. But it has been a bad market week with concerns about interest rates not dropping as soon as expected. We would still see it as a decent BUY for income investors.