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  5. AP.UN: Hi, I own several REITs. [Allied Properties Real Estate Investment Trust]
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Investment Q&A

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Q: Hi,

I own several REITs. They don't make up a large portion of my portfolio, but I've always liked real estate investing and I think there's long term value in some names even if they are necessarily exciting right now. I currently own BEI.UN, IIP.UN and GRT.UN. All are up significantly since purchased. I'd like to branch out and I'm looking at REI.UN and AP.UN. I've managed to stay away from Retail, but REI.UN has diversified nicely into multifamily housing and has sold retail properties outside of the 6 urban areas. AP.UN is in the office sector and who knows what's going to happen there even though it is down considerably from its highs. Which would be your choice and do you think there is long term value in these names? It is for an RRSP account.

Thanks,
Jason

Asked by Jason on February 16, 2021
5i Research Answer:

We prefer AP.UN; while slightly smaller, we certainly prefer office to retail, but also REI cut its distribution in January and AP went the opposite way and raised it. REI is cheaper but in our view AP is better overall.