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Investment Q&A

Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.

Q: Hi Peter, Ryan, and Team,

Today, would you be a buyer of MST.UN? The RSI chart would indicate that it's close to the "oversold" category. It would be for my RRIF which contains a well-diversified mix of mainly your recommendations. The only other "real estate" holdings are a position in each of FCR and IIP.UN, and no direct participation in the US market.

Thanks, as always.
Read Answer Asked by Jerry on August 04, 2016
Q: I currently hold BPY (up 50% over cost) and H&R in my portfolio 4% and 3% respectively.
I am considering swapping BPY for BEP for the additional income. Your thoughts?

I also plan to crystallize my capital losses and purchase the following ETFs:
Non registered:
ZPW – US Put Write
ZWE – Europe Covered Call hedged to CAD.
ZWH – US covered call
CPD – CAD preferred
XRE – Capped REIT

Registered (RRIF):
PGX:US – Preferred.

Each would constitute 2% - 3% of my portfolio. Diversification is my intention, but risk and surety of income is the primary consideration in all of the above noted.

Again, your thoughts.

Thank you for considering my questions

Gail
Read Answer Asked by Gail on August 02, 2016
Q: PLZ.DB.C 7%, 31DEC17
Hello 5i. Recognize this question is outside of small cap equities but would like to know if you will tackle this question.

Despite calling the company, reviewing SEDAR document and even reaching out to Hank Cunningham, I am left not knowing exactly what I own in this debenture. The question I have is in what are the options for company and investor at Dec 31, 2017.
Given these debentures came from take over of KEY REit, I can not follow the trail or find the specific document that identifies the features and options.
I am currently up 4%(capital) trading at $106.12 plus the income payments over a few years.
If this reverts back to PAR(Dec 31,2017) the capital will show a loss (paid $101.97). I would rather sell now and move on instead of waiting for a final income payment but do also realize 7% yield in a company I believe can keep up the payments is a very good investment.

Can you comment and/or offer facts about this debenture?
Thanks
Dave
Read Answer Asked by David on July 27, 2016
Q: The distribution yield is ~7 to 8% and the SEC yield at the end of March was 3.9%. The SEC yield is supposed to reflect current performance and yet the distribution appears not to have changed for a while. Since C&S publish the SEC yield I assume this to be the more accurate representation of "real" current yield and the difference is made up from ROC. At 85% fixed rate and 15% variable rate what do you think of its prospects? - I am happy with the real estate basis.
Thanks
Read Answer Asked by David on July 26, 2016
Q: I am reviewing my HCG holding and need help with a few metrics. The LTD, while it has come down is still at $41/share ($2.9b/70m). Is this a level of debt that one should be concerned about? Also expected earnings growth of 7%($4.11-4.70) does not seem great over the next 2 years. Finally despite the recent share buy-back, total shares appear to have grown 69 to 70 million. I have taken these numbers from RBC Direct.
Your comments as usual are appreciated.
Mike
Read Answer Asked by michael on July 25, 2016
Q: Could I get your opinion of the new BIP.UN preferred issue (series 5, reset with floor of 5.35%)? Would you agree with the S&P rating of P-2 low? I already hold both BIP.UN and BEP.UN in the Brookfield group. What would you consider to be the maximum percentage (based on total portfolio value) for BIP.UN + BIP pfd, and would you include BEP.UN in the total or view it as completely different, regardless of ultimate ownership?

Thank-you
Read Answer Asked by grant on July 25, 2016
Q: I am considering initiating a position in Edgefront. It is a HIGH yield small cap REIT that trades on the Venture. It is an owner operator of commercial real estate properties in Western Canada and Atlantic Canada with a primary focus on industrial properties. I currently own 3500 units of Pure Industrial (AAR). I feel that AAR may be nearing the top end of its market price, so am considering taking some profits and investing them in ED.UN. I would appreciate your thoughts on this potential move.
Read Answer Asked by Linda on July 25, 2016
Q: I bought HCG during it's "glory" days, in Oct. 2014, at $51.10. Currently, I've been patiently waiting for the good days to return for the stock price. I have a 40% capital loss. It seems you like the company and the stock. Since it's in my TFSA, I can either wait for a recovery, or take a loss and deploy what's left of my capital elsewhere. What do you see for the stock in the next 1-2 years?
Read Answer Asked by Helen on July 25, 2016
Q: I am considering the purchase of Milestone. It appears that its revenue and distributions are in $US. Could you advise if this complicates matters in terms of tax and what type of account (RRSP or taxable) would be preferred to hold the security? Would the discount brokerage convert the US distribution to CDN and would they usually charge a fee for this?

Thanks as always
Read Answer Asked by Neil on July 22, 2016
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