Investment Q&A

Q: With high debt being a concern for all companies, I thought today's news was reasonably positive but it appears that the market disagrees. As always, I would appreciate your analysis.

Tricon Capital Group Inc. (TCN-T) says it has an agreement to sell the portfolio of 14 manufactured housing communities, including its Tricon Lifestyle Communities investment vertical to an institutional investor. "The sale of our TLC manufactured housing communities portfolio represents the next meaningful step along our stated plan to simplify Tricon's business," said Gary Berman, CEO of Tricon Capital. "We intend to use the net proceeds largely to pay down our corporate credit facility, reducing our overall debt level and creating additional flexibility for future investments. Going forward, we will focus our growth efforts on our core investment verticals, where we have a clear path to scale, leadership and attractive long-term returns."

Q: WITH NEW QUALIFYING MORTGAGE RULES, I BELIEVE CONSUMERS WILL BE LOOKING FOR ALTERNATIVES OTHER THAN CANADIAN BANKS ARE THERE ANY STOCKS THAT MIGHT BENEFIT BY THIS CIRCUMSTANCE IF SO, WHAT MIGHT YOU RECOMMEND THANKS

Q: Dream Office REIT has made an offer to repurchase 10M shares @ $24.00. Would you take the offer or hold on?
Thanks,
Peter

Q: What are the tax implications of buying US REITs in a non registered account?

Q: Do you feel this REIT is undervalued currently. Is it a decent purchase? Thanks

Q: I buy Creit at $50 and wait for the takeover to complete.
No shareholder is going to vote against the merger and watch their stock tank to around $40.
Looks simple so I am confused.

Q: Hello Peter
I am newly retired and looking for a stable replacement for my AAR.UN stocks. I’m looking for a steady income dividend type stock that I won't have to worry about. Wondering which of MRG.UN or BPY.UN would you recommend , and why ? Both are trading below book value.
Really appreciate your thoughts .
Thanks.
Joanie

Q: In respect of Nigel's question regarding US multi-residential exposure without having to purchase a US REIT, would like to also suggest MRG.UN.

Q: I have owned both Milestone and Pure Multi-Family in order to gain exposure to the US rental market. Milestone of course was taken out and now possibly Pure. Is there anyway to get exposure to the US rental market without buying a large American REIT? Thank you for your excellent service. Nigel

Q: Why if this co. has received two proposals, does it not even show up on latest news on ruf. un website. Are they just trying not to pay any attention to it, or waiting for a firm offer.
Thanks

Q: I own 245 shares of REF.UN that I have held in a brokerage account for some time. They recommend that I sell for $50.00 now, and they would only charge 1/2 the commission. I understand that if the deal goes through I can take the option to sell at $53.75 with no charges. In your expert opinion, what are the chances of the deal falling through? If this happens the shares would likely fall back to the $42.00 range.
I do not want the CHP.UN shares, but I would like to sell all of the REF.UN shares.
I am wondering if the broker just wants her commission. PLease give me your expert opinion. Sell now or wait?

Q: Could you comment on the buy-out proposal at $9.79 this morning. I would have expected the price to jump up to near that level quickly, which it has not (10 am). I hold a moderate position - would you sell or wait for more movement in the stock price? Electra has already raised its bid once, so this might be it.
Thank-you

Q: Appears that there is a 'proposal to acquire' RUF from an american firm. How should one view this event? Thanks.

Q: What do you think of LADR in the US
Thanks Phil

Q: GGP has indicated that BPY could be required to pay a co reverse termination fee of $1.2 B in certain circumstances. What are those circumstances and how likely is that to happen? BPY was sharply down on Monday. Is the termination fee part of the reason for the decline? When is the takeover likely to be completed?

Q: What is your firm's opinion of SIA over the other senior living stocks? Thank you.

Q: RUF.UN was recently recommended by one analyst as buy. I sold it one year ago out of concern over the very high payout ratio. This ratio is still over
100 %. The share price has been flat for months. Is this stock worth considering ? Joe

Q: I have held BPY for a number of years, primarily for a solid, growing dividend. I am still up 20% plus the dividend and with the sell off in the past year I am looking at topping up to a 4% full position.
I do have a well diversified portfolio largely based on a mix of your 3 portfolios.
The recent selloff has broken support and am wondering if you see an end to the decline. I would think the dividend yield would be supporting the price unless there is a concern with the sustainability of the dividend.
Would you consider it buyable now or wait for further declines?

Q: The stock has had a nice run. Will it be affected by possible interest increases in Europe which are very low?
For an long- term income investor with the target of reasonable capital appreciation, should it be held, sold, or reduced by half in the current environment?

Q: I was looking to replace AAR.UN with an industrial reit. I found WIR.U which has P/E of 9.12 and DIR.UN has P/E of 26.19. Both are not 100% industrial reit. I will appreciate if you could give me some info on how come DIR.UN is having such high P/E? Or you can suggest some reit which has more growth rather then yield.