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5i Report
Rating
B+
Review of FirstService Corp
JUN 27, 2024 - FirstService Corporation (FSV) is the North American leader in residential property management and other property services to both residential and commercial customers. FSV is a well-run company that has carved out a significant position in the fragmented North American property management industry. Short-term catalysts to significantly move the stock would be acquisition related which are of course hard to predict but the company’s fundamentals remain attractive. We are maintaining our rating of a B+.
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- FirstService Corporation (FSV)
- Choice Properties Real Estate Investment Trust (CHP.UN)
- Dream Industrial Real Estate Investment Trust (DIR.UN)
- Real Estate Select Sector SPDR Fund (The) (XLRE)
Q: Seasons Greetings to all at 5i, and fellow members as well!
Our Real Estate holdings include DIR.UN, FSV (thank you 5i for this stellar pick!), and XLRE. Portfolio Analytics indicates that we should increase weighting. I was considering adding to DIR.UN, or starting a new position in CHP.UN. If this was your portfolio, what would you do, or is there even a better opportunity? Thanks as always.
Our Real Estate holdings include DIR.UN, FSV (thank you 5i for this stellar pick!), and XLRE. Portfolio Analytics indicates that we should increase weighting. I was considering adding to DIR.UN, or starting a new position in CHP.UN. If this was your portfolio, what would you do, or is there even a better opportunity? Thanks as always.
Q: FSV has had a great run this year. So I am thinking of your general recommendation to "buy on momentum". Is FSV a solid momentum buy or does it's quick rise suggest that I look elsewhere? I like that it's business is in the US.
Q: May I please have your comments on earnings?
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