Investment Q&A

Q: Hello 5!, I am considering to sell holdings in RIT:CA and buy Royal Banks shares as they seem to have a better future for growth while paying decent dividends today. Your thought, on this matter, would be appreciated. Thank you in advance

Q: May I please have your opinion of Slate Grocery REIT for income as well as any possible growth?
With appreciation,
Ed

Q: Can I please have your opinion on the impact of interest rates on FirstService in general. Do you feel they would have anything other than the average market reaction to interest rate changes, either rising or falling? Thank you.

Q: While interest rate predictions remain a big factor for most REIT, biggest concern for me when do big debt maturities are due for this Co. Can you please advise from that perspective whether NWH is able to defer it for longer terms or are they very vulnerable ?

Q: What is your opinion about open-ended vs. closed-ended REIT's? AP.UN became open-ended last year, and I'm wondering if this might change the potential for unit value or distribution level improvements.

Q: I did really well buying oil stocks when oil tanked 4 years ago, and holding during the recovery. What beaten up sector do you feel has great recovery potential like this currently? Would REIT's qualify since rate cuts appear to be coming soon, or are you not as confident in the recovery due to vacancy's & recession possibility? Thx

Q: Since the stock market and valuations are very high actually ,it seems to me that the real estate sector (REITS etc..) is still affordable compared to other sectors.Do you consider that increasing real estate stocks and ETFs proportion makes sense now, or would you rather favor another sector?

Q: Hi Peter, Ryan, and Team,

In the Real Estate sector, and across all our accounts, we own DIR.UN, FSV, and IIP.UN. FSV has been a stellar performer, and without 5i’s initial recommendation, it wouldn’t have been considered, and is certainly one we want to keep.

However, when I look at the charts for DIR.UN and IIP.UN, I see that Dream Industrial has a much better long-term record. Does a residential real estate stock need to be owned in one’s portfolio? If IIP.UN isn’t really necessary, I’m considering selling it and putting the proceeds into DIR.UN. Both IIP.UN and DIR.UN have made money, but of course, Dream has made a lot more.

Your comments, as always, are greatly appreciated.

Q: hi, the annual rate of return on the equity price ( not including dividends ) is about 2.15 percent since may 2010. is this what you would expect for this going forward? and do you have the annual rate of return including dividends/fees etc? I can't find that. do you think this is a good time to add shares ( its trading below April 2013 ). im a bit confused as to why it is trading at this level, ie how do metrics compare with April 2013? cheers, chris

Q: Just wondering if you are still comfortable with this REIT.

Have been looking for a commercial property REIT for purposes of diversifying holdings away from multi-family. And I know Choice acquired the old Canadian REIT years ago, which I thought to be of very high-quality at the time.

Choice appears to have less risk due to its size (705 investment properties) and the loan to value ratio appears commensurate with peers.

However, there seems to be a huge number of equity units outstanding after factoring in the exchangeable units. As well, what really appears unusual for CHP.UN is that it trades at a significant premium to NAV whereas most entities in the Canadian REIT universe currently trade at a discount to NAV.

Thank you

Q: Could you comment on earnings and an updated outlook?

Thanks in advance. - Jeff

Q: What is your opinion of BRDG:US as a source of income in a retiree's generally well-diversified portfolio?

Thanks!

Q: With AI growing rapidly, do any REITs in Canada stand to benefit? Allied Properties had such a presence but sold to reduce debt (and keep their dividend). I'd rather a Canadian than a US REIT if possible.
John

Q: A recent question/answer mentioned AGNC,NLY, BXMT. All have high yields 13-14%
Are these rates sustainable over a 3-5 year period. Would AGNC likely be the safest with only a 10.3 PE?

Thanks

Q: Can you comment on the quarter vs expectations. I thought results looked very strong with a nice NAV increase q/q but market didn’t care? Thanks

Q: Good morning 5i Team
Please comment on MEQ.CA latest earnings.
Thank you.

Q: Hi, this stock has been down since its IPO at US$13.00 two years ago. Is there any hope for this stock in 2024? This REIT is quite small, so for example, could Dream privatize it, as Brookfield did for BPY ? What is the financial picture (ratios)?. If I did sale for tax loss, is it worth buying back?
If I’m right, their financial results will be published tomorrow (May9). So please comment on their earnings. Thanks a lot.

Q: Comments on the quarter?

Q: thoughts on earnings

Q: Can I get your opinion on mortgage backed securities (US) for one’s income portfolio? Do these increase in value as interest rates decrease similar to bonds? Thanks.