Q: Is this a good time to add to this for a registered account to get to 5% position on a long term hold?
5i Research Answer:
BEI has been a very strong performer in the sector, helped by oil prices with its western Canada focus. We think it is a decent REIT today, but it has moved to 18X cash flow, well above the group. There is still rate risk, and oil prices could always decline. Yield is quite low as well due to the price rise. We would be OK owning it in a smaller weighting but see it as a too expensive for a large position today.