Investment Q&A

• Washington Prime Group Inc. (WPG)
  • P/E (TTM): -0.1X Cap: $20M
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Q: Asked last year about this one alongside CBL. I did not buy either but just read an interesting article from Rida Morwa on seeking alpha and would love another analysis of WPG for a contrarian iinvestment. Do you beleive they can cover the 23% dividend and if they cut it do you think the price would flop or rise. I know its a flier but just fishing.
Thanks Gary

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Read Answer Asked by Gary on May 08, 2019

• Canadian Apartment Properties Real Estate Investment Trust (CAR.UN $37.91)
  • $37.91 P/E (TTM): 100.47X Cap: $5.94B
  • View CAR.UN Profile
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• Morguard North American Residential Real Estate Investment Trust (MRG.UN $16.99)
  • $16.99 P/E (TTM): 5.25X Cap: $882M
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Q: I would like to invest in a REIT geared toward residential apartment rentals and have narrowed it down to CAR.UN and MRG.UN. With a smaller market cap and lower payout ratio, would you agree MRG.UN has a larger runway for growth?
Thanks,
Curtis Q

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Read Answer Asked by Curtis on May 08, 2019

• Ravelin Properties REIT (SOT.UN $0.38)
  • $0.38 Cap: $32M
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Q: Slate Office Reit got an uptick today following quarter results and various initiatives. What is your opinion on all the moving parts here and including the Wafra involvement which I can not evaluate. Thank you.

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Read Answer Asked by James on May 08, 2019

• Bank of Nova Scotia (The) (BNS $95.68)
  • $95.68 P/E (TTM): 18.08X Cap: $116.65B
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• Gildan Activewear Inc. (GIL $80.63)
  • $80.63 P/E (TTM): 18.25X Cap: $11.97B
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• Brookfield Renewable Partners L.P. (BEP.UN $39.85)
  • $39.85 Cap: $26.40B
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• Shopify Inc. Class A Subordinate Voting Shares (SHOP $221.99)
  • $221.99 P/E (TTM): 83.48X Cap: $285.16B
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• A&W Revenue Royalties Income Fund (AW.UN $36.93)
  • $36.93 P/E (TTM): 17.7X Cap: $538M
  • View AW.UN Profile
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• goeasy Ltd. (GSY $128.76)
  • $128.76 P/E (TTM): 9.06X Cap: $1.99B
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Q: Could I please get your top 3 picks in the growth and income portfolios at the current moment. Thanks, Don

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Read Answer Asked by Donald on May 08, 2019

• First Capital Realty Inc. (FCR)
  • P/E (TTM): 15.9X
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Q: Is this company a buy at current price as it plans to convert to a REIT this year? Thank you Jack.

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Read Answer Asked by Jack on May 06, 2019

• Morguard Corporation (MRC $114.46)
  • $114.46 P/E (TTM): 5.35X Cap: $1.21B
  • View MRC Profile
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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 $37.91)
  • $37.91 P/E (TTM): 100.47X Cap: $5.94B
  • View CAR.UN Profile
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• Chartwell Retirement Residences (CSH.UN $20.52)
  • $20.52 P/E (TTM): 92.27X Cap: $6.20B
  • View CSH.UN Profile
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• InterRent Real Estate Investment Trust (IIP.UN $13.27)
  • $13.27 Cap: $1.85B
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• Dream Industrial Real Estate Investment Trust (DIR.UN $12.31)
  • $12.31 P/E (TTM): 28.63X Cap: $3.59B
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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 $37.91)
  • $37.91 P/E (TTM): 100.47X Cap: $5.94B
  • View CAR.UN Profile
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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 $199.79)
  • $199.79 P/E (TTM): 61.61X Cap: $10B
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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 $37.91)
  • $37.91 P/E (TTM): 100.47X Cap: $5.94B
  • View CAR.UN Profile
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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 $12.31)
  • $12.31 P/E (TTM): 28.63X Cap: $3.59B
  • View DIR.UN Profile
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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 $39.84)
  • $39.84 P/E (TTM): 21.03X Cap: $6.94B
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• InterRent Real Estate Investment Trust (IIP.UN $13.27)
  • $13.27 Cap: $1.85B
  • View IIP.UN Profile
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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 $127.39)
  • $127.39 P/E (TTM): 36.57X Cap: $117.45B
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• H&R Real Estate Investment Trust (HR.UN $10.37)
  • $10.37 Cap: $2.78B
  • View HR.UN Profile
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• WPT Industrial Real Estate Investment Trust (WIR.UN $26.81)
  • $26.81 P/E (TTM): 4.06X Cap: $2.25B
  • View WIR.UN Profile
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• Dream Industrial Real Estate Investment Trust (DIR.UN $12.31)
  • $12.31 P/E (TTM): 28.63X Cap: $3.59B
  • View DIR.UN Profile
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  • View Reports on DIR.UN

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 $17.01)
  • $17.01 Cap: $306M
  • View D.UN Profile
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• Dream Global Real Estate Investment Trust (DRG.UN $16.79)
  • $16.79 P/E (TTM): 4.7X Cap: $3.26B
  • View DRG.UN Profile
  • View Questions on DRG.UN
• Dream Industrial Real Estate Investment Trust (DIR.UN $12.31)
  • $12.31 P/E (TTM): 28.63X Cap: $3.59B
  • View DIR.UN Profile
  • View Questions on DIR.UN
  • View Reports on DIR.UN
• Dream Hard Asset Alternatives Trust Units (MPCT.U)
  • P/E (TTM): 15.1X Cap: $342M
  • View MPCT.U Profile
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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 $199.79)
  • $199.79 P/E (TTM): 61.61X Cap: $10B
  • View CIGI Profile
  • View Questions on CIGI

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 $1.11)
  • $1.11 Cap: $263M
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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 $20.98)
  • $20.98 P/E (TTM): 45.58X Cap: $1.96B
  • View SIA Profile
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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 $8.18)
  • $8.18 Cap: $1.74B
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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 $16.77)
  • $16.77 P/E (TTM): 16.51X Cap: $3.72B
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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