Investment Q&A

Q: I was looking to sell CSH.UN and buy either CAR.UN or IIP.UN because of its high payout ratio but I didn't because it started showing momentum. I recently heard on BNN that most reits have a high payout ratio so I wondered if I am being overly cautious.

Can I get your opinion on CSH.UN. should I be concerned about its high payout ratio? Would you sell it and buy one of the other reits.
I own all 3.
thanks

Q: Good morning - if indeed we are approaching a pivot in the market, which REIT' are most attractive to you these days. I have done well with DIR.UN but it's my sole real estate holding. Time to add more of the sector? Thanks for everything and best wishes of the season to all you good people at 5i. I have. seriously benefitted from your service over the past four years.

Q: Which Canadian REIT would be your top pick to buy today assuming we are going into a lower rate environment?
Thank you

Q: I am woefully underexposed to the real estate sector.
Could you please identify your top 3 Canadian stocks, REITS and ETF's which one might play for the impending interest rate cuts in 2024?

Thanks
Jeff

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.

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.

Q: What would be your best contrarian pick today in both us and canadian markets

Q: What would be your top 5 U.S. or Canadian REITs today based primarily on both valuation and quality balance sheet.

Q: According to your company statistics page, CAR’s 3 and 5 year dividend growth rate was -100 and -66 respectively. Does that mean they significantly cut their dividend at some point in the last 3 years and, if so, was there a particular catalyst that drove them to do that? Assuming I am reading the information on the statistics correctly, what are your thoughts on the reliability of CAR’s dividend in the medium term? Contrarily, how likely is it that the dividend growth rate will accelerate once interest rates start to fall, say to catch the company up to where the dividend per unit was before the cut?

Q: Hello, I have read the Q&A on CAR.UN and it seems to be a favorite REIT of yours, but if you can detail why this is the case, I would really appreciate it. Thanks

Q: I'm not sure if I should take comfort in the fact that you still have ZRE in the portfolio or not, the last little while has been rough. If you were putting new money into the sector under current conditions would you stick with the equal weight ETF approach or would you just choose a couple of your favourite individual stocks like DIR and/or CAR (or perhaps another ETF that is not equal weight)?

Q: Me, thinking of selling CAR.UN and adding to DIR.UN. My reason, DIR.UN has more upside. In the income portion of the portfolio, about 18% of total portfolio, CAR.UN has a weighting of 1.47%, while DIR.UN  comes in at 6.88% but I'd be okay with overweighting DIR.UN. What is you take for this potential move???.....Tom

Q: Interest rates likely peaking and many real estate stocks are trading at discount. I am considering adding to real estate. Would you comment on this thought and suggest a stock and index.

Q: One year ago I decided to choose 6 reits ( avoiding shopping centers and offices),+ one professionaly managed reit etf (mentionned above) .The final result is that the managed ETF did loose 15% +,and the 6 "amateur chosen" ETF gained more than 15% ,the choice was based on the "basic observation"of a slowing economy and specific individual REIT performances,I did then favour industrial, data centers and some real estate REITs.Is it normal that a professionaly managed ETF could underperform so much versus personal choices and why? I wonder if I should trust actively managed products on the future,considering the fees etc..,instead of just choosing stocks or ETFs in safe sectors according to observable macro-economic tendancies.

Q: Can I have your opinion on the pros and cons of investing in these public REITs vs. private REIT products from Skyline (Skyline Apartment REIT, Skyline Industrial REIT) or Centurion? Thank you.

Q: What are your favorite REIT's now?

Q: Further to Kel's July 24th question and your reply re: capital appreciation in the Real Estate sector. You listed 4 favourite Reits - any preference in ranking ? Would you consider the addition of REAL to be a good move ?

Q: Thank you for your market update. Following on your comment that real estate sector will play catchup 2H23, what are your best suggestions for capital appreciation? Also what is the rationale - debt/mortgage rates up, not a drain on

Q: Looking to invest in rental properties. Best recommendation for a 5 year return? TCN and/or CAR.UN or other choices?

Q: Presently I don't hold any Reits as investments. I would like to start off by purchasing two Reits. Can you please give me your top 3 recommendations in this sector. Thank You.