Investment Q&A

• Vital Infrastructure Property Trust Tr Unit (NWH.UN)
  • P/E (TTM): 19.55X Cap: $1.41B
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• Dream Industrial Real Estate Investment Trust (DIR.UN $13.72)
  • $13.72 P/E (TTM): 37.08X Cap: $3.95B
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Q: Having sold my AAR.UN on the buyout news, I have been sitting on some cash and looking at either DIR.UN or NWH.UN to replace AAR. Do you have a preference between these two, and your reasons. Note that I am more interested in income stability than growth, and already hold a small position in NWH.UN.
Thank-you

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Read Answer Asked by grant on March 02, 2018

• Boardwalk Real Estate Investment Trust (BEI.UN $67.37)
  • $67.37 P/E (TTM): 16.27X Cap: $3.22B
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Q: In the Globe and Mail online today David Berman wrote an article about BEI with the following title, "Despite a big rally this week, investors should avoid this REIT". What is your take on this view?

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Read Answer Asked by David on March 01, 2018

• Extendicare Inc. (EXE $30.19)
  • $30.19 P/E (TTM): 27.2X Cap: $2.85B
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Q: Can you comment on new acquisition by extendicare of Lynde
Creek retirement facility.
Thanks.

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Read Answer Asked by Howard on February 28, 2018

• Medical Properties Trust Inc. (MPW)
  • Cap: $3.01B
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Q: Can I please get your opinion of Medical Properties Trust (MPW).

Thanks

Dave

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Read Answer Asked by David on February 28, 2018

• Stantec Inc. (STN $124.29)
  • $124.29 P/E (TTM): 29.52X Cap: $14.17B
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• Boardwalk Real Estate Investment Trust (BEI.UN $67.37)
  • $67.37 P/E (TTM): 16.27X Cap: $3.22B
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Q: Can you please comment on Boardwalk Reit results and your opinion of the company going forward ?

Is it a good time to start a position in Stantec (4% position) ?

Thank you

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Read Answer Asked by Pierre on February 27, 2018

• Boardwalk Real Estate Investment Trust (BEI.UN $67.37)
  • $67.37 P/E (TTM): 16.27X Cap: $3.22B
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Q: Good Morning, Would you see BE.un recovering if the pipeline goes through to B.C.? Thank you. Anne

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Read Answer Asked by M Anne on February 26, 2018

• Automotive Properties Real Estate Investment Trust (APR.UN $11.67)
  • $11.67 P/E (TTM): 21.61X Cap: $643M
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Q: This looks like an interesting REIT which buys income-generating auto dealerships. Seems to provide good payouts and cash flows seem good so far.
Would you see this as a income stock or is it more of a growth stock ?
The way they acquire dealerships makes it appear like a growth stock. Your views please.

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Read Answer Asked by Sridhar on February 26, 2018

• RioCan Real Estate Investment Trust (REI.UN $21.34)
  • $21.34 P/E (TTM): 94.01X Cap: $6.26B
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Q: Good morning 5i team,
I am 72, have no private pension, a diversified portfolio (50/50 asset mix RRIF included; no real estate holdings other than my residence), with a 10-year "quality" bond ladder in my RRIF to cover CRA withdrawals. I have funds available in my RRIF, and am considering an investment in REI for income and long-term capital appreciation. I would appreciate your thoughts, and any suggestions other than REI to achieve income and some growth in the RRIF.
Edward

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Read Answer Asked by Edward on February 26, 2018

• Dream Industrial Real Estate Investment Trust (DIR.UN $13.72)
  • $13.72 P/E (TTM): 37.08X Cap: $3.95B
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Q: Hi
Please comment on DIR.UN, and REIT’s in general.
The market doesn’t like our ‘ bond proxies’ ( Utilities, Telcos, Pipes etc). So, where to hide? DIR.UN has held up pretty well over the past month and the 7%+ yield is tempting.
Thanks
Frank

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Read Answer Asked by Frank on February 23, 2018

• RioCan Real Estate Investment Trust (REI.UN $21.34)
  • $21.34 P/E (TTM): 94.01X Cap: $6.26B
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• First Capital Realty Inc. (FCR)
  • P/E (TTM): 15.9X
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Q: Can you compare FCR with Rio Can? What would your preference be between these 2 stocks ? Joe

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Read Answer Asked by Joseph on February 20, 2018

• Agellan Commercial Real Estate Investment Trust (ACR.UN $14.25)
  • $14.25 P/E (TTM): 6.6X
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Q: Could comment on, seems to trade lightly but seems to have decent metrics.

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Read Answer Asked by terrance on February 20, 2018

• Canadian Apartment Properties Real Estate Investment Trust (CAR.UN $36.51)
  • $36.51 P/E (TTM): 28.75X Cap: $5.65B
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Q: Is CAR-UN suitable to own in a TFSA and is this an okay time to buy?

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Read Answer Asked by Terry on February 16, 2018

• American Hotel Income Properties REIT LP (HOT.UN $0.47)
  • $0.47 Cap: $33M
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Q: Good morning 5i.
What is your price target
for American Hotel Income Properties HOT.un
1 year out ?
How would you rate the quality
of continued high distributions ,
vs its cash flow payout ?
Are there any other Hotel Property names that you like?
Thank you
Barry from Montreal.

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Read Answer Asked by Barry on February 16, 2018

• Canadian Real Estate Investment Trust (REF.UN $51.95)
  • $51.95 P/E (TTM): 15.6X
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Q: What do you recommend doing with shares of CREIT with the takeover announcement?

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Read Answer Asked by Kyle on February 15, 2018

• Canadian Real Estate Investment Trust (REF.UN $51.95)
  • $51.95 P/E (TTM): 15.6X
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Q: So would you sell the entire holdings of REF or keep the units of CHP? This transaction (if I sell the entire holding) will reduce my exposure to REITS in my portfolio by 50% to a little over 2%. Would you beef that up a bit and if so, what REIT would you pick up (other than HR)?

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Read Answer Asked by Greg on February 15, 2018

• RioCan Real Estate Investment Trust (REI.UN $21.34)
  • $21.34 P/E (TTM): 94.01X Cap: $6.26B
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• Emera Incorporated (EMA $72.10)
  • $72.10 P/E (TTM): 20.84X Cap: $22.04B
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• Teck Resources Limited Class B Subordinate Voting Shares (TECK.B $78.80)
  • $78.80 P/E (TTM): 28.03X Cap: $38.69B
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Q: Hello, could you comment on earnings for these companies please?
Thank you
Stephane

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Read Answer Asked by Stephane on February 15, 2018

• Morguard Corporation (MRC $120.50)
  • $120.50 P/E (TTM): 7.37X Cap: $1.28B
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Q: Big drop in the stock today but i have seen nothing that would account for this. Have i missed something here. Seems like a pretty big drop for no news. Your thoughts?

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Read Answer Asked by kelly on February 13, 2018

• Pure Industrial Real Estate Trust (AAR.UN $8.09)
  • $8.09 P/E (TTM): 7.2X
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Q: I hold aar.un. If iI choose to do nothing with my shares, what happens and what are the capital gains and tax implications?

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Read Answer Asked by Denis on February 13, 2018

• Dream Global Real Estate Investment Trust (DRG.UN $16.79)
  • $16.79 P/E (TTM): 4.7X
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Q: Whit REITs under pressure as of late, how do you view this DRG.UN with all it's investments in European office properties. It has renegotiated it's debt quite well and exited from it's over reliance on Deutsch Telekom in the last 2 years.
Compared to RioCan, H&R and Canadian REIT for example.

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Read Answer Asked by David on February 12, 2018

• Pure Industrial Real Estate Trust (AAR.UN $8.09)
  • $8.09 P/E (TTM): 7.2X
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Q: With the buyout at $8.10; the market breaking $8.00 and monthly dividends to continue are their any metrics involved beside the market slide? I own it but sold it at $8.12 and bought back in at $8.07 to continue wth the distribution short term.

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Read Answer Asked by James on February 12, 2018