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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: Your March 2 2023 on the company seems relatively positive? But over the Summer/Fall less positive? (correct me if I have that wrong) If true, is it a reflection of real estate market/higher interest rates or execution of the company? Earnings were released on Friday, comment? If you were doing report card/ 5i Opinion today what would you change? Thanks!
Read Answer Asked by Steve on November 21, 2023
Q: I have had good success with industrial reits, having held DIR.UN for several years, and having 2 other industrial reits bought out over the years with nice profits. And then there's NXR. A more recent purchase and clearly a mistake, as it is currently the highest percentage loss in my portfolio (fortunately a small holding: only about 1% - but was about 1.5% initially). Question - do you see any hope for this one, or better to just move on now that it has shown a little strength? This is in an RSP, so the loss can't be claimed. I would like to take advantage of the current relatively high yields in some better-quality names to hopefully make my RSP a little less prone to this kind of loss.
Thank-you
Read Answer Asked by grant on November 16, 2023
Q: Good afternoon!
I would appreciate an update on your views about the residential arm of Dream. They seem to be doing well, but I was hoping you might help me spot any red flags here, or point out where I am not seeing the data correctly. My cursory review noted the following:
1) Debt to assets only 31.9%
2) Stock price at 50% NAV
3) Paid $10.5 distributions, out of $.18 FFO, which implies a payout ratio of only 58%, which seems low and I would think adds to some margin of safety for a small firm.
4) Actually are buying back stock, although minimally.
5) Dividend seems very good at almost 7%.

Thanks!
Paul
Read Answer Asked by Paul on November 15, 2023
Q: I have heard mention made, generally negative, of "external management" in reference to income trusts. I am curious about your expert opinion on this subject with speciic reference to DIR.UN and CSH.UN.
Thank you for your thoughts, Bill
Read Answer Asked by Bill on November 14, 2023
Q: Looking to add to one of these REITS in TFSA. Are they each favorites of yours in their respective REIT sectors (Industrial, Residential)? If not, which REITS are your favourites in these sectors? Which sector do you see doing best for growth over 2-3 years assuming rates have peaked and likely decline sometime in 2024?

Thank you.
Read Answer Asked by Tony on November 13, 2023
Q: Are you able to discuss the results of CAR.UN? Do you see potential upside to this company given a more stable interest rate environment?

Can you also comment on their strategy? It seems given their focus on upscaling their building portfolio (ie recycling out older buildings and using their cash to buy newer properties), tail winds from housing shortages & immigration coupled with their focus on affordable housing (eg. mobile homes) could be good opportunities in the future.
Read Answer Asked by Cathy on November 11, 2023
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