Q: Please comment on just released Q results .Timely to buy/add after big drop.Txs for U usual great services & views
5i Research Answer:
AW.UN is now trading at 15x times' P/E. In the recent quarter, AW.UN royalty income grew slightly by 3.8% to $13.7M, compared to last year’s $13.2M and distributable cash was $0.54, a slight increase from of $0.53. Same Store Sales growth was quite weak, up only 3% year-to-date, compared to 8.9% last year. Overall, the results we OK but not that impressive, but given that the share price has been under pressure recently among with other dividend paying names (largely due to high rates), we remain comfortable with the stock. We would be OK with slowly adding, but it may see tax loss selling or continued pressure from rates, and market momentum is certainly not good right now.