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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 5i team :
Kroll Ball rating agency commented about TAH (USa branch of Tricon) the below note. As shareholders, should we worry now about this note ? or it is an issue to deal with in 2019 . Thanks !!

"It is worth noting that one TAH securitization and the Silver Bay deal are each collateralized by a floating-rate loan with a fully extended term of five years and the other TAH securitization is collateralized by a fixed-rate loan with a five-year term, all of which will come due from September 2019 to November 2021. This concentrated debt maturity profile may result in increased financial stress for the company."
Read Answer Asked by Alejandro (Alex) on March 15, 2017
Q: After the close today a legal firm put out a warning that Tricon had not paid a fair price for their latest acquisition. Would these pertain to tricon or more to do with the management of the company that they acquired? How can this be unfair, don't the share holders have to vote on the deal for it to go through?
Read Answer Asked by Geoff on March 02, 2017
Q: I was wondering if you could expand on exactly what it is Tricon does. Apparently, their new deal will mean that they are primarily in the rental home business. Does this mean that they own thousands of actual stand-alone houses that they rent for the long term and earn rental and perhaps management fees on? Are these houses rent to own or does the term "house" also mean apartment buildings and/or condos? Is there a comparable Candian company that would help me to understand their business model better or is large scale home rental more applicable only to the US?

Paul F.
Read Answer Asked by Paul on March 01, 2017
Q: Hi, not sure if I'm the first to ask about the recent new, but I'm curious of your thoughts on it. To me, it seem like a good strategic move and will result in a more focused company. I didn't like seeing the bought deal at $9.90 when they are paying a 20% premium on aquisition. So I assume market will bring it down for awhile but longer term will look good as long as economy in US stays strong.
Read Answer Asked by Kel on February 27, 2017
Q: Morning Peter and Team,
RESP w/T, BNS, & GUD each ~15%. What would you buy with the 55% cash balance ? Would you choose TCN or AIF in the mix ? No funds needed for ~ 3yrs. Thank you, Paul
Read Answer Asked by Paul on February 07, 2017
Q: Hi Peter, I have the above real estate plays (~2.5% each) in my RRSP along with a good mix of other 5i non-real estate income and growth picks (~62.5%) plus ~30% cash at present. Is this a reasonable mix (TCN, HOT, SRT) ? Thank you.
Read Answer Asked by Paul on January 27, 2017
Q: I'd like to invest in Tricon, but note that, as you say earnings are lower than in 2013/14, when it was trading between $6-$8 dollars.

1. Should I assume from this that I should wait until the stock drops to the $6-$8 level before buying?
2. Why are they having so much trouble generating earnings in an improving real estate market? Are the execs paying themselves too much?
Thanks for your opinions.
Read Answer Asked by Pat on November 04, 2016
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