Investment Q&A

• Morguard Corporation (MRC $117.55)
  • $117.55 P/E (TTM): 6.62X Cap: $1.25B
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Q: I read the report that you just published on MRC and am very intrigued.

What strategies are available to Morguard in order for their stock price to realize their NAV or book value?

Do you see them taking any of these actions in order unlock their value?

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Read Answer Asked by Stewart on May 06, 2019

• Canadian Apartment Properties Real Estate Investment Trust (CAR.UN $41.37)
  • $41.37 P/E (TTM): 82.86X Cap: $6.55B
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• Chartwell Retirement Residences (CSH.UN $18.25)
  • $18.25 P/E (TTM): 83.18X Cap: $5.31B
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• InterRent Real Estate Investment Trust (IIP.UN $13.36)
  • $13.36 Cap: $1.86B
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• Dream Industrial Real Estate Investment Trust (DIR.UN $12.41)
  • $12.41 P/E (TTM): 25.54X Cap: $3.62B
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Q: Which Canadian reits are worth buying now. Thank you rose

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Read Answer Asked by Rose on May 06, 2019

• Canadian Apartment Properties Real Estate Investment Trust (CAR.UN $41.37)
  • $41.37 P/E (TTM): 82.86X Cap: $6.55B
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Q: Can you suggest a few reits to buy now that are stable and worth owning? Thank you rose

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Read Answer Asked by Rose on May 06, 2019

• Colliers International Group Inc. Subordinate Voting Shares (CIGI $231.51)
  • $231.51 P/E (TTM): 74.56X Cap: $11.69B
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Q: Hi group thanks for answering the following question - CIGI is dropping daily since the first quarter results were released. I realize that the fist quarter is always weak so no surprise on the initial drop bot the losses are piling up I am up over 100% of this stock but do not want to see all the dissipate Buy sell hold thanks

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Read Answer Asked by Terence on May 06, 2019

• Canadian Apartment Properties Real Estate Investment Trust (CAR.UN $41.37)
  • $41.37 P/E (TTM): 82.86X Cap: $6.55B
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• Summit Industrial Income REIT (SMU.UN $23.48)
  • $23.48 P/E (TTM): 0.6X Cap: $4.46B
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• WPT Industrial Real Estate Investment Trust (WIR.UN $26.81)
  • $26.81 P/E (TTM): 4.06X Cap: $2.25B
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• Dream Industrial Real Estate Investment Trust (DIR.UN $12.41)
  • $12.41 P/E (TTM): 25.54X Cap: $3.62B
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Q: Which of the above industrial reits do you favour today, or you rather stay with real estate reit ?
Thanks.
Desiree

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Read Answer Asked by Desiree on May 03, 2019

• Parkland Corporation (PKI $38.60)
  • $38.60 P/E (TTM): 22.7X Cap: $6.73B
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• InterRent Real Estate Investment Trust (IIP.UN $13.36)
  • $13.36 Cap: $1.86B
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Q: Disregarding everything else, which of these two companies would have more growth, and which is safer over a two-five year period, thanks

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Read Answer Asked by Pat on May 02, 2019

• Prologis Inc. (PLD $112.28)
  • $112.28 P/E (TTM): 29.29X Cap: $104.20B
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• H&R Real Estate Investment Trust (HR.UN $12.11)
  • $12.11 Cap: $3.33B
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• WPT Industrial Real Estate Investment Trust (WIR.UN $26.81)
  • $26.81 P/E (TTM): 4.06X Cap: $2.25B
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• Dream Industrial Real Estate Investment Trust (DIR.UN $12.41)
  • $12.41 P/E (TTM): 25.54X Cap: $3.62B
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Q: I would like to buy some REITs in my RRSP as income-producing assets (keeping them in RRSP so as not to have to track changing ACB resulting from ROC and phantom distributions). Which ones would you recommend?

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Read Answer Asked by M on May 01, 2019

• Dream Office Real Estate Investment Trust (D.UN $17.20)
  • $17.20 Cap: $306M
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• Dream Global Real Estate Investment Trust (DRG.UN $16.79)
  • $16.79 P/E (TTM): 4.7X Cap: $3.26B
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• Dream Industrial Real Estate Investment Trust (DIR.UN $12.41)
  • $12.41 P/E (TTM): 25.54X Cap: $3.62B
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• Dream Hard Asset Alternatives Trust Units (MPCT.U)
  • P/E (TTM): 15.1X Cap: $342M
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Q: I think in a previous answer to a question on the Brookfield group of companies you suggested owning up to 15% of this group was OK. I am wondering about the Dream group of companies and your opinion of DRG.UN, DIR.UN, etc., and if you like them, what limit would put on ownership of the group and why?

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Read Answer Asked by jane on May 01, 2019

• Colliers International Group Inc. Subordinate Voting Shares (CIGI $231.51)
  • $231.51 P/E (TTM): 74.56X Cap: $11.69B
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Q: Hi, can I please get your opinion on Colliers' quarterly results

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Read Answer Asked by Benoit on April 29, 2019

Q: Are there any water rights funds in Canada that you’re aware of, or farm land reits?
What would you suggest for warehouse/industrial land reits in Canada and US?
Thanks.

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Read Answer Asked by Mark on April 26, 2019

• European Residential Real Estate Investment Trust (ERE.UN $2.42)
  • $2.42 Cap: $569M
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Q: Hi guys.

What are your thoughts on European Residential REIT? They have done a couple of interesting deals with CAP REIT. Looks like there is some management and trustee overlap.

Thanks,

Scott

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Read Answer Asked by Scott on April 25, 2019

Q: Hi - just a clarification re the Revera law suit and ads. SIA is not the
same company is it? My understanding Revera is a private co. unrelated to Sienna

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Read Answer Asked by Scott on April 25, 2019

• Sienna Senior Living Inc. (SIA $17.93)
  • $17.93 P/E (TTM): 44.93X Cap: $1.65B
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Q: Hi Peter and Staff
Great hockey game last night but I had to keep watching commercials trashing SIA
a) what is lawsuit about , dollars involved and likely outcome ?
b) expect further weight on stock price based on situation?

Been a great stock for me

Thanks for all you do
Dennis

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Read Answer Asked by Dennis on April 25, 2019

• Global Net Lease Inc. (GNL $7.86)
  • $7.86 Cap: $1.73B
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Q: Looking at this one for income and possible growth with its report coming out in early May. Would you please give me an analysis for dividend safety and earnings expectations. Would it be worthy of a small position, buy or not?

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Read Answer Asked by Gary on April 25, 2019

• Cushman & Wakefield plc (CWK $15.58)
  • $15.58 P/E (TTM): 16.65X Cap: $3.60B
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Q: Please share your thoughts on Cushman & Wakefield PLC, thank you.

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Read Answer Asked by MG on April 25, 2019

• Extendicare Inc. (EXE $13.31)
  • $13.31 P/E (TTM): 13.53X Cap: $1.11B
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Q: Sandpiper Group led by the previous founder of Amica, Samir Manji has acquired 9% of Extendicare and taken seats on the board. Do you think this development significantly changes the outlook for EXE.

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Read Answer Asked by philip on April 25, 2019

• Dream Office Real Estate Investment Trust (D.UN $17.20)
  • $17.20 Cap: $306M
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• Dream Industrial Real Estate Investment Trust (DIR.UN $12.41)
  • $12.41 P/E (TTM): 25.54X Cap: $3.62B
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• Dream Hard Asset Alternatives Trust Units (MPCT.U)
  • P/E (TTM): 15.1X Cap: $342M
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• DREAM Unlimited Corp. Class A Subordinate Voting Shares (DRM $21.98)
  • $21.98 P/E (TTM): 12.73X Cap: $936M
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Q: If DRM the top parent company of DIR.UN, DRA.UN, D.UN does DRM get income from dividends from actually holding some shares in those other dream publicly listed companies? If that is the case can you tell me roughly how much the parent company holds of each please? Thanks

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Read Answer Asked by MG on April 25, 2019

• Dream Hard Asset Alternatives Trust Units (MPCT.U)
  • P/E (TTM): 15.1X Cap: $342M
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Q: Hi Team,
What is your opinion on the 3 "wave" buy back offer that is in the plan by Dream Hard Asset Alternatives Trust. It seems a unusual way to announce a share buyback. Am I missing something?

I own some units was thinking to add more lately...

With the current yield of 5.1%, what risks do yo see to buy the stock at the current price. Would you be confortable to add more at the current level ?
Thank you !

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Read Answer Asked by Michel on April 24, 2019

• Dream Hard Asset Alternatives Trust Units (MPCT.U)
  • P/E (TTM): 15.1X Cap: $342M
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Q: I would appreciate your comments on management's plan to buy back the stock at $8 in July and $8.25+ in 2020.
Earl

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Read Answer Asked by Earl on April 24, 2019

• Street Capital Group Inc. (SCB $0.68)
  • $0.68 Cap: $82M
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Q: Good day, looking at Street, could this be a take over target for a bigger player (lender or major mortgage brokerage) given share price and market cap. KWh comes to mind as a recent comparable takeout

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Read Answer Asked by Harry on April 22, 2019