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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 & 5i: A thought occurs while I am suffering through the recent quarterly announcement from Partners REIT (PAR.UN), the distribution reduction and the associated significant drop in unit price, all in the name of “financial flexibility,” while the independent directors shepherd the enterprise through its disentanglement with external management and some process of considering strategic alternatives. The REIT has all too recently weathered an acrimonious civil war, in which those who would have moved swiftly to internalize management lost that bid, in a special vote of the shareholders, due to the hard fought resistance of the very same external manager they were trying to expel, a company which also happens to be the REIT’s largest shareholder. So in very short order thereafter, the external manager company is in financial trouble and facing bankruptcy, perhaps due in part to its expenditures in defending its lucrative management contract with Partners. Now who might be hurt the most, in the short term, by the present moves? Let’s take that company in bankruptcy and in a single swat reduce what may well be among its most valuable assets, the holding of REIT units, by 10%. In the same move, let’s reduce the life blood, the regular monthly cash flow the manager receives from those units by 20%, effective immediately (with the November distribution). I have no insider knowledge about Partners but this has the look of what might be a bit of a vengeful disemboweling of those who successfully suppressed the coup attempt but then failed, fatally in its aftermath. Or am I reading too much in here? I'm tempted to hang in with it and see where it goes but wonder whether I might be better off to take my loss now and move along. Thanks for any thoughts on this!
Read Answer Asked by Lance on November 14, 2013
Q: PAR.UN - Partners REIT. Its quarterly report stated: "This year over year decline can be attributed to provisions made during the quarter for uncollectible debts and adjustments to recovery revenues related to prior years". Has the market over-reacted to the adjustments? Banks seem to regularly adjust their NOI by jigging uncollectable debts.
Appreciate your comments.
Thanks,
Ronald
Read Answer Asked by Ronald on November 14, 2013
Q: Superteam,
Can we have your assessment of Leisureworld Senior Care Corporation (LW). Is now a good entry point?
Read Answer Asked by ERICH on November 14, 2013
Q: Hi Peter
MKP reported earnings this morning. Would you please comment on the results. Thanks
Read Answer Asked by maida on November 14, 2013
Q: My husband is is wanting me to invest in DI.Un in our joint investment account as the dividend is a high 9%. We are seniors and looking for income. Would this be a good bet? I would be grateful for your opinion.
Read Answer Asked by Carol on November 14, 2013
Q: Can you give me your analysis and opinion on ARCP (American Realty Capital Properties).

Thanks!
Read Answer Asked by Christopher on November 13, 2013
Q: Partners REIT PAR.UN

How will the CCAA filing by League effect the operation of PAR.UN?
Read Answer Asked by Terry on November 11, 2013
Q: DUNDEE INTERNATIONAL REIT REPORTS Q3 FINANCIAL RESULTS AND SURPASSES $1.0 BILLION IN ACQUISITIONS IN 2013
1.I am mostly a income seeking ( income addicted )investor .YOUR ASSESSMENT OF THE ABOVE IN LIGHT OF THEIR NUMBERS.

2.DOES IT MAKE SENSE TO KEEP REITS THAT DO NOT HAVE TO REFINANCE TO MUCH. AS THEY PAY A GOOD DIVINED AND HAVE THE CAPACITY TO INCREASE RENTS ??? I FAIL TO UNDERSTAND THE EXCESSIVE DOWN WARD EVALUATION OF THE SECTOR ???
thanks again
yossi
Read Answer Asked by JOSEPH on November 10, 2013
Q: Your comments on HLP.Un after their recent earnings report Please. Also any comments you may have on AET.UN on it's erratic behavior notwithstanding generally good news and favourable company comments about the distribution into 2014. Thanks
Read Answer Asked by george on November 09, 2013
Q: Peter,what is your opinion of Temple Hotels(TPH)
Read Answer Asked by gary on November 06, 2013
Q: Good Afternoon, I own a few REIT's in my portfolio. They have been less than stellar. I realize there will be a correction in the future. Is now the time to unload or should they hold up reasonably well. Thank You.
Read Answer Asked by JAMES on November 06, 2013
Q: Could I please have your view of NPR.un third quarter numbers released today
Thanks
Garry
Read Answer Asked by garry on November 06, 2013
Q: What can you tell me about leaque assets the real estate investment club/fund ??
Read Answer Asked by Robert on November 05, 2013
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