Investment Q&A

Q: Hello,
I see what looks like some very good news concerning my holding of Starlight U.S. Multi-Family Class A units. I would however appreciate your thoughts on their announcement of what I believe is to be a redemption of all my outstanding units at a price of $12.35 CDN per share.

I'd also appreciate your opinion or insight into why the shares are only trading at $11.10 CDN as I write this but it looks to me as though they are to be acquired at $12.35 in January of 2020. Should I back up the truck and buy more or is the discount evidence of a very strong opinion the deal might not go through for some reason?

Thank you!

Q: I am considering a $US pay reit, and am looking at these two. Could you provide the payout ratio/dividend sustainability, debt levels and debt due timeframe as well as any other relevant financials. Industrial reits and apartment reits have done very well for me, but do you have a preference between the two based on the current economic forecast? Lastly, could you identify the pros and cons of Canadian domiciled companies holding virtually all US assets?
Thank-you

Q: Do you expect any more consolidation in this sector in the next year? Would either of these names be a target?

Thank you
Donna

Q: I currently do not have any REITs in my portfolio and was looking to start a position in HR or REI (or other). Can I get your thoughts on these as well as suggestions for other REITs? Thanks.

Q: Can you comment on their recent quarter please. I’ve been following this stock for a very long time. Are things potentially turning here? On a likely completely unrelated note. I just saw home capital group (another darling Real-estate finance company from 5+ years ago break out). Obviously TII is a micro cap. But do your think these results are sustainable near term?

Q: Morning fellas:
What do you guys think of this name?
Thank u
Mark

Q: Thoughts on most recent earnings? What is price/affo?

Q: What do you like of this company it had quite a drop recently I’m guessing earning had something to do with that .Would you buy this company
Thanks for the help

Q: Looking at the Reit space in the US and I have been watching this one for awhile. It has come off a fair bit since its high. Thoughts on their latest quarter and their business going forward.

cheers

Q: Hello,

The following REITs make up 25% of my TFSA: NVU, NWU, CSH, DIR, HR
The following make up 10% of my TFSA: AD, SIA, AW

Other Holdings: AQN, BCE, BNS, BIP, BEP, ENB, FTS,SLF & T.

Am I too concentrated in REIT's? I am in my mid 60's.

Thank You.

Q: i have owned home capital since 20.00, their earnings were excellent, but up 5.00 seems excessive, i had a position, sold a little. whats do you think. dave

Q: In the last month HR.UN has made a straight line drop of over 5%. I'm assuming that it's because of the Encana departure. I know that Encana would face a huge exit penalty and the exit is not immediate but do you believe this negative price trend will continue?
Carl

Q: Could you please comment on the quarterly results which were just recently released for these 2 companies. Please deduct 2 points as there are 2 separate questions here. Thank you, Ian

Q: 1. I was considering buying FCR for a nonregistered account as it has a fully eligible dividend, but I see it is imminently converting to a REIT - is there any way of knowing how the distributions will be classified going forward (and therefore the taxation treatment)?
2. What do you recommend as tax efficient real estate holdings for a nonregistered account? Many thanks.

Q: Patrick Horgan was on BNN recently and described REITs as the ‘sell of a generation’ and said that they are priced like techs stocks were in 2000. Any comments?

Thanks,
Jason

Q: Do you agree with Patrick Horan's thesis that reits are currently overpriced and should be shorted ? if not can you name some non-Canadian reits that look interesting?

Thanks for your assistance.

Q: why is cuf.un rising over the last 2 days?

Q: I note in your reply to Mark today you say that COLD is expensive; the question from an investment standpoint is how expensive are they? It seems that earnings expectations are all over the place for fiscal '19 and '20. First Call seems to expect over $1 in '20, TR 0.67, while PE ratios presented are anything between almost 300 and 130, which doesn't compute, and on top of that should COLD be evaluated as a REIT AFFO or other criteria or as an ordinary industrial equity? I also note that COLD has failed to meet earnings expectations for the past four consecutive quarters.

Taking into account actual earnings and volume growth could you please fill in some of these gaps and provide a basis for reasoned evaluation of this company's share pricing. The price run down in recent days could provide an attractive entry into an enterprise which appears to have significant prospects because of industry needs as well as fragmentation. Thank you.

Q: Hi Guys,

Can I please get your opinion of True North REIT and today's announcement.

Thanks

Dave

Q: How do you view their Quarter? Does this new bought deal make them a good buy below $7?