Investment Q&A

Q: Why does Tricon seem to be falling more then other similar REITs? I would have thought this type of business is a lot more defensive or relatively more resistant to turmoil of this nature... people still gotta pay their rent? Thanks

Q: Does the company pay a dividend monthly? Why the stock dropped so much? Is it safe to buy at this level?
Thanks

Q: Is it possible that the lowering of rates will fuel values in the real estate market. What securities should be looking at if this were to be true?

Q: I'm looking for a stable US residential REIT. Who would you recommend?

Q: Is Tricon's dividend an "eligible dividend" (i.e. subject to the reduced dividend tax rate) for Canadian investors?
Thanks!

Q: Tricon announced results and to my untrained eye they look pretty good. One statement in the release caught my eye and am wondering as to the meaning of it. Below is the excerpt.

"In January, 2020, the company substantially completed its transition to an owner and operator of diversified rental housing in North America and therefore ceased to be an investment entity under IFRS 10.

As a result, effective Jan. 1, 2020, the company will begin to consolidate the financial results of controlled subsidiaries, including its investments in single-family rental homes, U.S. multifamily rental properties and certain Canadian multifamily rental properties, resulting in the introduction of these subsidiaries' assets, liabilities and non-controlling interests to the balance sheet of the company. Similarly, these subsidiaries' income and expenses will be reported on the company's statement of comprehensive income, together with the non-controlling interests' share of income.

The company continues to assess the impact on its consolidated financial statements of ceasing to be an investment entity, and final conclusions have not yet been made. The anticipated changes are material and will be applied on a prospective basis.

What does the fact that the company is no longer an investment entity under IFRS 10 and subsequent balance sheet changes mean for the company. Is this good or bad

Thanks Kenn

Q: Michael, perhaps you meant BSR Reit Canadian invested in US market.

Q: hi guys a while ago in the globe there was an article on a canadian reit that invests in american rental properties maybe not exclusively but at least a good portion ive since lost the name im wondering if you know or at least have a recomdation thanks as always

Q: Would these two companies in the real estate sector be suitable for 1 to 3 year hold for income given its current valuations?
Thx

Q: In your response to Garry this morning you stated "In real estate, it (BPY.UN) and TCN would be our main Canadian choices." Are these currently your top choices in REITs overall, or only in context of Garry's question?

Q: Can you comment on q3 please. Did it beat estimates?

Q: Can I get your thoughts on Tricon? Do you like the TAH part of the business? It seems to me that it could be a challenge to efficiently manage that many single homes over a large geographic area?

Q: Any thoughts on the press release by Tricon? This looks like there may be a massive overhang on the stock. US holders of a TMX listed stock may not have a pretty outcome.

Q: Hi 5i team, lately there is a rotation from growth to value stocks. Can you name 5 to 10 names of both groups that you prefer. Thanks.

Q: What securities would you recommend for an investment in apartments or multi residential in Canada. Any that offer better relative value? Thanks.

Q: How does Tricon have negative FFO? A big one time event?

Q: Hello what company would you invest in, minto or tricon?

Q: Hello team,
Comments please on TCN results.
Thx!

Q: I have already lost Milestone to a takeover and now it appears that I will lose Pure Multi-Family. Do you have any suggestions on how to play apartment rentals in the US without buying an American security. Thank you as always. Nigel.

Q: I just bought more Tricon today after RBC downgraded the share price target from $14 to $13. Am I missing something here? I have looked at this company very meticulously - management has hit its numbers consistently over the years and the recent merger looks great in terms of scale - why the consistent market punishment?