By Adriano Marchese
True North Commercial Real Estate Investment Trust expects to renew its share repurchase program to buy back up to 10% of its trust units over a one-year period.
The Canadian REIT said Monday the Toronto Stock Exchange has approved its plan to buy back up to about 1.2 million trust units for cancellation.
Shares have been under pressure in 2025, falling by about 12% since the start of the year, closing on Thursday at 9.25 Canadian dollars ($6.68). The stock is still up 4.6% over the last 52 weeks.
At Thursday's closing price, the value of the shares intended for buyback would be worth about C$11.4 million.
True North can start buying back shares starting April 23.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
April 21, 2025 07:50 ET (11:50 GMT)
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