Investment Q&A

Q: EXP Realty International. A friend has taken his brokerage from the Remax franchise and put it into this firm. Can 5i give me a quick analysis for a possible investment?
Thanks in advance.
David

Q: Peter; Is there any news on this IPO? It’s been a long time getting to market. Thanks.
Rod

Q: I would like to hold this, to the other side of Covid but there is very little information available.
Any insight that you could provide would be appreciated.

Q: I have owned this for several years and while they seem to do a lot of good things the stock price has stubbornly been resistant to change. I figure the sector has a lot to do with this. There is also not a lot of coverage for this company so I am wondering if, as a proxy for sentiment, one might look to coverage of Pulte Homes, for example? I am not so much interested in switching names (unless you think it is reasonable to do so) but Pulte has been getting a lot of positive press lately, appearing on several lists as being undervalued, so I am wondering if that same optimism would apply. If so, would you see adding to TCN as a prudent move at this time?

Appreciate your insight.

Paul F.

Q: This REIT appears to be fairly small, but has shown a consistent dividend history for the past number of years. What's your opinion of it's continued viability?

Q: Hi Guys
I hold both these companies, both of which are trading at about half of book value. I was thinking of selling one of these and using the proceeds to top up the other holding. Looking forward a couple of years, and seeing which company has delivered better returns, which company would you favour and why.

Thanks

Q: Do you think Europe now poses too much risk for INO.UN

Q: Given that RIT holds nearly all the REITs [including the two mentioned here] and their dividend is higher, does it make sense to simply hold RIT [even if their fees are higher]?

Q: Which would you prefer, IDR, ZRE, or RIT, and why?

Q: Good morning
I am looking to add some REIT to my portfolio. I'm moving to a income portfolio as I'm retiring soon and would like to increase my overall divide payout . Can you recommend some REIT for a long term hold?

Q: Thank you for your response to my previous question. I still find the issues involved puzzling. Stating the apparently conflicting issues i) while the same store growth is expected to be modest at around 2% the overall revenue growth appears to have been closer to 20% (for 2019) and ii) while analyst share price expectations have been rising notably of late that has occurred in the face of reduced earnings expectations; according to First Call these have been declining modestly but consistently for at least the past year.
The rationale for investing in this company was at least in part based on its competence as evidenced by the share price growth and its participation in an industry sector that offered significant opportunities for growth as a result of substantial sector fragmentation, to which they appear to be willing and able to respond. I subsequently see that COLD also has substantial industry participation both in the US as well as overseas, and promotes its competence in its management and operating systems. I also see that the REIT sector is currently under pressure and, or perhaps despite, that the cost of capital should be low as a result of all time low prevailing rates of interest. The obvious question is whether the current valuation represents a significant entry opportunity for a company which is doing well but still sorting out the bugs resulting from its growing interests. I would be interested in your response.

Q: How do you view this company's prospects and current valuation? While analysts expectations appear to have been on the rise in recent weeks the price has been soggy for some while, and I cannot determine the basis for the share price appreciation seen beginning in early 2018 through Q3 2019. The company's prospects seem now in question despite apparent growth in the underlying demand for their services.

Q: Hello 5i Team
A new IPO was announced on September 04 for Flagship Communities Real Estate Investment Trust, a Canadian REIT for US Manufactured Home Communities (proposed TSX symbol MHC.U).
Other than a press release, a marketing presentation, the preliminary prospectus and an appraisal report (all available on SEDAR), I could not find any other information.
The estimated price range will be US$15 - US$17 as per my broker's IPO center.
What are 5i's thoughts on this issue?
Given the scarcity of information, would it be better to wait for the issue to start trading, before initiating a position?
Thanks

Q: Hi Guys

I see Morguard Corporation has hit a 52 week low and has issued a new $175 million dollar debenture. I guess the weighting it has in retail, hotel, and office real estate continues to weigh on its cash flow? What does the rating of the debenture tell us about the financial health of Morguard and is there anything here to worry about?

Thanks Stuart

Q: Please give me your updated opinion. Thank you.

Q: Peter; I jus saw that Brookfield GROUP and Simon are buying JC Penny. Can you tell which actual of Brookfields is involved? Thanks. Rod

Q: I own some BPY in my RSP and had been looking at adding more on the strength of Brookfield management, however am taking pause after learning of their intentions to acquire and operate retail companies.
How do you view this approach and how secure do you think their distribution is ?

Q: What is your view on BTB.UN.
Should I ride it out or sell/move on? Currently down 37%. 1% of porfolio.

Q: A market call guest suggested that BAM may look to take BPY private if the share price doesn't recover. Do you agree? Could the recent share buy back be the first step? What type of premium might be gained? Thanks

Q: REITs are beaten down. For a long term investor who wants real estate exposure, is this a time to get in? Can you suggest (1) two or three REITs or other entities and (2) an ETF for this? Thank you!