Investment Q&A

Q: Peter: It was good talking to you on the TV yesterday and getting your advice on Vermillion. As a result, I added to our position. Now, can I have your thoughts on two US real estate plays, HOT.UN and MST.UN - Thanks, Ted

Q: I am thinking of investing long term (10-20 years) in a REIT and was wondering about your thoughts on Northview apartments. Which recently was a merge between Northern property REIT and True north apartment REIT trust.
Since it is at a 52 week low, I was wondering if it is a good time to get in. Else do you have other suggestions for REITS.

Thanks,
Andrew

Q: Hello would you hold this stock for the long term meaning two years plus? Despite the recent decline I am still up over 20%. Wonderful service, thank you Bill

Q: How does an investor recognize tax loss selling? Is Northview a victim of tax loss selling? The yield is very tempting, how safe would it be? Thank You Ron

Q: What is up with Dream Office? Yield in now 12.42%, it has fallen over $3 in the past month. What do other people in the market know that we don't? Is the dividend reasonably safe?

Joe

Q: I am retired and my portfolio is set up for income with some growth, I believe it to be well diversified. I also believe I could use some more exposure to REITs, RioCan and HR combined make up 3% of my portfolio. I have been considering bringing Reit exposure up to 12% by adding Boardwalk and Dream with each of the four holding at 3%. Most of the cost will come from cash and the sale of a portion of my CPD units with the balance coming from some needed clean up.
I would appreciate any thoughts, comments and input.
Thanks for you guidance,
Brian

Q: Could I please get your current view. They have increased their distribution 13 years in a row. Is this a good solid long term investment? Thanks

Q: What do you think of their latest results, and is this a good company for income and growth.

Q: Hello Peter/Ryan,

My RIF has one annual payment due mid Dec. I have narrowed the source of funds to either XHY, of which there is a large holding, or MRG.UN which also is a fairly large holding. The overall REIT holdings across five accts is 4.7%. The overall holdings of XHY and other high yield bonds is about 6%. Either choice will still leave a fairly large holding (dollar value) of the selected stock/ETF in the RIF

I am inclined to make the withdrawal from XHY as perhaps MRG.UN will provide a bit better return in the year(s) ahead. Do you agree with selling some XHY or would you recommend I sell some of each?

Separate point: Would it be possible to put the Model and Income portfolio stock listings in alphabetical order for next publication (either by symbol or by name).

Many thanks. Bob

Q: Because of its size BTB.UN is somewhat risky.On Nov 16 they issued $25M worth of convertible debentures which is another negative.I've done pretty well by it over the years but this latest placement makes me nervous.Would you consider selling it or selling it & buying the convertible debentures or standing pat.It is less than a 2% weighting or in my portfolio.Thanks as always,team.

Q: I bought shares in the above in an DIY investment account forgetting I had
holdings in both elsewhere.Is it reasonable to sell both at a loss to free up some cash for investment elsewhere to achieve more balance in my portfolio and to use losses as a tax loss(both are in a nonregistered account)?
Thanks so much for your help.
Sam

Q: Good Evening
I am an income investor, early 70's. I have a 15% holding in a diversified REIT portfolio. My holding of D.UN is 2.5% of my total portfolio. At what looks like a bargain price today would you advise an increase of 1 to 2% to D.un?


Thanks to All

Q: Huge tax loss selloff today and now trades at 40% discount to NAV. I have owned this for about 7-8 years and am strongly considering averaging down (I own a basket of REITs). The selloff seems way overdone, would you agree? Thank you.

Q: Dear Sirs,

I sent a query near the end of last month regarding the price decline of CAR.un At that time you had attributed the decline to unusual month end trading on lower volumes - since then the stock has declined approximately $2. Do you have any additonal insights that might help explain the subsequent decline and as well does this current price represent a good entry point.

Thank you,
Brad

Q: appreciate an update on this company...
and your comments on the safety of the dividend as well!!
ed in pointe claire

Q: Hi 5i team, Please give me your view on the results from HOT.UN. Does this holding have much opportunity for share price appreciation or is it just an income play? Do you prefer something similar instead? Thanks Rob

Q: Could you comment on the synergies here,seems the market doesn't like it?

Q: I own the following REITS for income: DIR.UN, AAR.UN, SRU.UN, AX.UN, HR.UN. I own about the same % in each REIT, and they are in balanced proportion to the rest of my portfolio. I have no intention of adjusting my total REIT proportion as a whole, but rather treat them like a home-made ETF. I will hold for a long time frame, can weather some dips, but, I only want to hold high quality REITS and preferably nothing in Alberta in case oil companies have to start letting their office spaces go. Could you comment on my list for quality, and suggest any you would see as a sell. Would it be better to cut down the number of REITS and add the funds to one or more of the others? Or, on the other hand, is there something I am missing to complete my "ETF". Thanks very much.

Q: What is the current price to NAV ratio of ZRE? As an alternative, can you recommend a couple of high quality reits that are currently trading below NAV or at least not much of a premium?
Thanks

Q: Hi Peter & 5i Team,

Considering your reply and (I believe) your view that interest rate rises aren't coming to Canada any time soon (and probably not substantial rises)
>> 5i Research Answer:
>> D.UN is a fairly sizeable REIT at a good valuation. It had a >> good third quarter, with solid occupancy of 92%. The payout >> ratio is fine at 80% and cash flows are supportive of the
>> dividend. We would be fine with a long term hold here.

What would your opinion be for a current, half position, holder considering accumulating more of D.UN (current REITs are 3.5% of overall portfolio). I sense a lot of negative sentiment in the REIT market but I generally have a positive, longer term view.
I'm considering initiating a half position in CSH.UN as well before year end but in no rush to commit to these purchases.

Thanks, I eagerly await your valued opinion.
Mike