Investment Q&A

Q: I bought H&R a couple of years ago and ok generally with the performance and growth in underlying property value and debt management. I'm curious why they haven't increased the monthly distribution in 2 years given that their FFO payout is under 70%. Any word or planned update to your rating for H&R? Thanks in advance.

Q: P/E is 3.1 and it pays a 6.9% dividend. Would this be a safe investment for a retired person looking for a decent yield?
Thanks
Cathleen

Q: Dear sirs,

Looking for your opinion on the recent weakness of this reit, specifically with rescpect to today's $.50 decline.

Thank you,
Brad

Q: Seems to be on a steady downward spiral and the dividend is getting high.Is this sustainable and forward prospects ?

Q: Hi guys, I still hold both First Service and Collier and would like to reduce the real estate portion of my overall portfolio. I would like to sell only one and would like your opinion on which of the two you feel has the best outlook going forward. Which of these two would you let go? Thanks, Mario.

Q: Hi Peter
What impact will a rate hike in the US have on the stock price of Canadian REITs? I'm wondering whether the potential hike is already built in????
Many thanks.
Wayne

Q: Could you comment on recent acquistions ,debt level etc going forward ?

Q: On August 26, 2015 you indicated that the price drop of npr.un is due to the confusion of the investors with respect to the merger of npr.un with the true north apartment reit.Further, you indicated that it is not a "bad" deal. Meanwhile npr.un dropped another 7% since August 26, 2015. So far the stock dropped 40% during the last 12 months.
Do you still advise your members to hold this stock? Is the dividend approaching 9% safe? Are there any other new developments with respect to this stock?
Thanks

Q: This thing is trading at a 20% discount to NAV and yielding over 8%. It's a portfolio of only 1st mortgages almost exclusively secured by income producing real estate. I know your going to say its size is small and therefore risky but I don't understand that? If I personally owned a couple of income property mortgages, wouldn't that be way more risk than a nationally diversified 275m portfolio of 1st mortgages? If the trading price fell much more, could shareholders push to have the thing broken up over the next 1-3 years as mortgages get repaid and capital returned to shareholders? Trying to understand the downside risk - even if rates increase, MTG has a short duration and its yield would increase as they could charge higher rates.

Q: Any news regarding takeover.Will the sale go ahead,I have voted for acceptance from broker,Any idea about disposition

Q: I have had a small position in Temple for a very long time. Although I missed opportunities to sell at a nice profit I have actually received more in income to date than my original cost.

I think that Morguards involvement is positive. If anybody can turn Temple around it would be them. Based on that I have advised my broker to exercise my Rights. It will still be a small position.

I do realize that the Hotel Industry is challenging at the best of times and it’s currently not the best of times.

One thing that I have noticed is that Morguard owns 6 Hotels in Ontario that could potentially be combined with the Temple holdings at some point.

Morguard has been very aggressive acquiring Rights and may not be done yet. They issued an “Early Warning” on Oct 21. I know that your opinion re Temple has not been positive. Does Morguards increased interest change your opinion?

At what point would Morguard be required to make an offer for the company? They are approaching the 20% threshold but it is not clear to me how that applies to an Institutional Investor,

Richard

Q: Sounds like the banks may be closing some branches over the next few years due to more digital banking- which REITS have a lot of bank tenants and may be affeected?
Thanks

Q: Hello Peter, I have a full position in XRE and I want to add to my REIT holdings. While the yield on XRE is somewhat higher than CAR.UN or CSH.UN and I obviously get diversification, I'm paying an MER of .6% and its performance over 1-5 year time frames has significantly lagged both of these alternatives. For a long-term conservative income holding in a diversified portfolio, which of these three would you suggest? (Or if another REIT seems more compelling for this purpose, please suggest.) Thank you!

Q: Hi team-

Is there a healthcare REIT geared towards senior housing that you currently favour? I am looking for one that:

- is a good (extremely) long term hold.
- has quality management.
- distributes a decent payout that is raised annually.
- is currently not expensive.
- will hold up reasonably well in a rising interest rate environment.

Thanks.

Jim

Q: Find it hard to believe this Co.is worth only 19.25 With a 2016 affo estimate of 2.25 by TD Waterhouse,thats a 8.5x multiple with a 70% payout yielding 8.4%! Debt.at a manageable 59% ,Alberta representing 16% of portfolio after the merger. Please comment.

Q: I am looking to add a solid, long term real estate investment to my portfolio. I am trying to decide between RioCan and Brookfield Office. They both seem well managed, large and well-financed. The main differences I see between the two is that one (BOX) is the office space while the other is more retail oriented and secondly, BOX has international holdings (mainly US?) while REI is said to be exiting the US market.

What are your views on these two companies or is there another option I should be considering (I know yo like Chartwell)? I am more interested in total overall return, whether it be from dividends, growth or both.

Thanks for insight.

Paul F.

Q: I have a question about Chartwell Retirement Residences. I have owned CSH.UN for about 2 years and am ahead with capital gains. The company is carrying a fairly high level of debt compared to other REITS. Would this be a good time to sell Chartwell? I also have MRT.UN and HR.UN.

Q: Brookfield claims this company has a total return on equity potential of between 12-15% per year. It is paying about a 5% dividend. Do you think this return target is realistic in the future with slowly rising rates? Thank you.

Q: Hi Team - have held Tricon for quite some time and have a nice gain. What do you think of switching to CAR.un for higher yield and capturing US$ gain? Do you think the growth prospects of TCN
are higher than Car going forward? how do risk profiles compare? thanks

Q: HI GUYS
I Hold 851 shares TPH and is no concern .Recently they added
851 rights, could you tell me something about them ,and in your
opinion what to do with them . Thxs Bob