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Investment Q&A

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BTB Real Estate Investment Trust (BTB.UN $3.90)
- $3.90 P/E (TTM): 15.12X Cap: $345M
- View BTB.UN Profile
- View Questions on BTB.UN
Brompton Lifeco Split Corp. Class A Shares (LCS $10.13)
- $10.13 P/E (TTM): 9.1X Cap: $90M
- View LCS Profile
- View Questions on LCS

Q: Current thoughts on each of these for income ? Thank you.

Asked by Paul on April 07, 2026

5i Research Answer:

For LCS, we are jus tnot big fans of split corps. They can work in some situations but don't view them as overly necessary in most cases.

BTB is a commercial REIT operating in Canada with exposure to retail, industrial and office. Occupany is at 91% which is ok but maybe a bit low. Valuation at 11X earnings looks 'right' with not a whole lot of growth expected. For a distribution stream, we think it is fine but maybe not a name that jumps out at us either.

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