The Globe and Mail reports in its Wednesday edition that True North Commercial REIT, the publicly traded owner of largely Class B office towers across Canada, is halting its monthly distribution, sending its units tumbling. The Globe's Tim Kiladze writes that True North, which mainly operates in Ottawa and the Greater Toronto Area, had slashed its payout by 50 per cent in mid-March, but management announced Tuesday that it would halt the distribution altogether "for approximately six months or earlier if appropriate." Instead of paying monthly distributions to unitholders, True North intends to buy back its shares to help close their discount to the REIT's net asset value. By buying back units, True North will boost its earnings per unit, which is a measure many investors watch closely. However, many investors, and particularly retail investors, also purchase REITs for their monthly payouts. It is unclear what they will value more in the long run. True North also announced Tuesday that it will consolidate its units at a ratio of 5.75 to 1, meaning every 5.75 units will be converted into one unit. By consolidating, a company can quickly boost its share price by spreading the same value of earnings over fewer shares.