Investment Q&A

Q: How would you rank the following reits (AP.UN, DIR.UN, HOM.UN, MHC.UN, MI.UN, NXR.UN, PLZ.UN, PMZ.UN and REI.UN) for total return. Are they any you would not buy or would only buy a partially at this time?

Q: Can you tell me what you think of todays news release regarding the strategic sale of properties in Dallas in addition to the early waning disclosure. Are each of these positive, negative or neutral for the stock and why?

Q: Hello 5i Team

I currently own European Residential REIT (ERE-UN), however I wish to sell it before year end with the uncertainty of what will happen after the special distribution and reduction in dividend (i.e. to many moving parts).

I want to replace it with either of the TSX listed US dollar REITS

BSR REIT - HOM-UN
Dream Residential - DRR-UN -UN,
Flagship Communities - MHC-UN

or add to my existing holdings of Inter Rent (IIP-UN)

1 - What would 5i suggest and if the US dollar REIT, please rank in order of preference?

2 - If I go with the TSX USD reits should I buy them in Canadian Dollar or US dollar (as they trade in both currencies on the TSX)? I am thinking I should go with Canadian Dollar as it will make the annual ACB calculations easier (my reits are held in a taxable account).

Thanks

Q: In view of the recent acquisition of TCN by Blackstone, do you think that HOM.UN could also be a future target of a takeover? If so, who do you see as likely suitors and what might be a reasonable offer?

Thanks as always.

Q: Are the dividends of those Cies accepted for Canadian dividend tax credit since their businesses are also significantly in the USA ?

Q: hi folks:

can you pls compare/contrast INVH (invitiation homes) HOM.UN (BSR) and TCN (tricon)

and in which order would you consider purchase (if at all)

thanks again

Q: How would you rank these. What would the rationale be for the ranking. Housing affordability seems to be a market issue as well as not enough supply. Are these all buys with the macro backdrop?

Q: BSR 1/4 ly results look pretty good.
Most propeties in the US.
Your comments please.

Q: Hi, Are there any Reits based in Texas? I think a lot of people are moving to Texas and reits with holdings there should do well..What are your thoughts?

Q: Other than higher interest rates, is there a reason the US housing REITS have been so weak of late? Does the same reason apply to CAR.UN which have been down.

Q: A question on your data.
It shows price to cash flow of about 10x for hom.un
Compared to car,un and kmp.un both at 17x it seems far cheaper .
I was under the impression it was an expensive reit

Q: Can you comment on BSR’s recent rent rate growth press release please. Do you think BSR’s premium is warranted given the growth and markets they are in? Thanks

Q: Is TCN or HOM.un a better buy at this time? Which has better growth prospects in the near and medium term? Which has a cheaper valuation and are their valuations reasonable for reits? Are their debt levels reasonable?

Q: These symbols are confusing.
They are both showing as having the same US$ div'd.
Same name and both say :CA on you web site,
They appear to be the same but .U trades in US$ on the TSX.
The .UN one is aa newer list and trades in Cdn $.
Any advantage to one over the other?
Cdn $ one seems to do less volume.
I always get gypped on conversion when I trade US$ in a Canadian $ account. Even the trading fee is in US$.
Would appreciate your expert opinion.

Q: What did you think of their q3 results? Seems like the company is benefiting from exposure to the strong texas market. How does the valuation/growth compare to to other alternatives? Thanks

Q: Can you comment on BSR reits latest results please. The stock has been on fire and results looked good to me. Is it a decent buy today? How does it compare with peers? Valuation? Thanks

Q: If you held a small position of HOM.UN:CA would you be replacing it with something else or continue to hold it?

Q: A little while ago, Stephen asked a question about some Reits and BSR was mentioned. In your answer, you suggest it was not cheap, based on 22x cash flow. A couple of questions: would other matrices also show it to be not cheap? About P/E, it shows at 5 on my Portfolio Tracking, but on the web page from my booker, it says 12.49....why the difference? Last, while I do like the business focus of BSR, CAP Reit is often mentioned favourably for this sector; can you briefly compare these 2 and suggest which you would prefer, and why? Thank you for your excellent service.

Q: Which one of these two investments would you buy now and why? Both seem decently cheap.

Q: Which 4 of the 6 Reits would you buy at current levels? Please rank your choices.
Thanks