Viewing Expert Paul Gardner, CFA | StockChase
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Compiling comments that experts make about stocks while on public TV.

Viewing Expert

Paul Gardner, CFA , Partner and Portfolio Manager

Avenue Investment Management

Address
47 Colborne Street
Suite 300
Toronto, ON
M5E 1P8

Contact Info
Telephone: 416.482.2004
Toll Free: 888.482.2007
Fax: 416.482.0007
Email:
Website: http://www.avenueinvestment.com/


Date Signal Chart Symbol Company Opinion Price
2017-08-03 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets.  The world is nice and quiet these days.  Last year we had BREXIT, The Greek Blowup and the US Election.  In the next 3 or 4 months there really is nothing there.  We have global synchronization.  Global growth is at 3%.  Earnings are popping up.  We are going back to normalization of interest rates.  We had emergency lending rates in North America until now.  In a 10 year bond we should get to 2.5% and we are at 2%.  The interest rates affects REITs greatly.  He has not made returns in the last 6 months.  You are worried about tenants surviving.  He focuses on investment grade bonds for fixed income.  It is challenging to find great value out there. 


Price:
$0.020
Subject:
REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias:
CAUTIOUS
Owned:
_N/A
2017-08-03 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

REITs and Interest Rates.  Interest rates should not have any impact because they are also small, but in fact they do from a sentiment point of view.  Retail is really being challenged.  Landlords will have trouble renting out these spots. Office is good in most pockets except Calgary.  Apartments are geographically specific.  Industrial REITs are good.  Amazon needs storage and logistics.


Price:
$0.020
Subject:
REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias:
CAUTIOUS
Owned:
_N/A
2017-08-03 BUY Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Bank or Lifeco Recommendation.  He leans toward the banks for an interest rate play.  TD-T and RY-T are the best in class.  More than 50% of TD-T’s assets are in the US.  They are cheap relative to Canada and there is room to run.


Price:
$0.020
Subject:
REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias:
CAUTIOUS
Owned:
_N/A
2017-08-03 PAST TOP PICK Must be logged in to use chart ARE-T Aecon Group Inc

Convertible 5.5% bond due Dec 1/18. (Top Pick Feb 17/16) He got out several quarters ago.  It had run up and was just yielding 4%.  He could reload if it ever came off.


Price:
$14.770
Subject:
REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias:
CAUTIOUS
Owned:
No
2017-08-03 TOP PICK Must be logged in to use chart BTE-T Baytex Energy Corp

Unsecured debenture 6.625% Due 2022 They were in distress when oil fell apart.  They are heavy oil producers and a fracking play in the US.  They had too much debt.  More US refiners are requesting heavy oil now.  The risk reward is in his favour.  The bond is trading at a discount.


Price:
$3.480
Subject:
REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias:
CAUTIOUS
Owned:
Yes
2017-08-03 WEAK BUY Must be logged in to use chart CM-T Canadian Imperial Bank of Commerce

RY-T vs. CM-T.  CM-T is cheaper.  The PE is 9 vs. RY-T at 12.  The market and street are starting to blend in a discount to CM-T because of the housing market as they are the most exposed.  He would still hang his hat on RY-T because their global and domestic franchises are fantastic.  They are trying to get into the US right now although are late to the game.  He would still go for RY-T because it is more defensive.


Price:
$108.290
Subject:
REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias:
CAUTIOUS
Owned:
Unknown
2017-08-03 DON'T BUY Must be logged in to use chart CUF.UN-T Cominar Real Estate Inv Tr

They own strip malls and were hit by the Target bankruptcy.  They did a dilutive equity issue.  Their biggest risk now is being downgraded by credit agencies.  It makes it harder to get funding.  It is no longer a growth REIT, but just trying to fix a problem.  Stay away as it will be problematic over the next couple of quarters.  The yield says there is a pending distribution cut coming.


Price:
$13.020
Subject:
REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias:
CAUTIOUS
Owned:
Unknown
2017-08-03 DON'T BUY Must be logged in to use chart D.UN-T Dream Office REIT

It has struggled.  They had quite a large portfolio in Alberta.  It recovered over the last 6 months.  He has never really liked this REIT.  It still does not have the greatest assets.  They cut their distribution and that caused the fall.  The yield is sustainable now, however.


Price:
$19.750
Subject:
REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias:
CAUTIOUS
Owned:
Unknown
2017-08-03 PAST TOP PICK Must be logged in to use chart DH-T (Dead) DH Corporation

(Top Pick Feb 17/16, Down 19.76%)  It fell apart and was acquired.  They fell apart integrating their US acquisitions.  They are no longer a public corp.


Price:
$25.490
Subject:
REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias:
CAUTIOUS
Owned:
Yes
2017-08-03 DON'T BUY Must be logged in to use chart DR-T Medical Facilities Corp.

He owned it for a moment.  US centers.  They deal with surgeries such as knee replacements.  With the healthcare situation and its volatility in the US, they missed numbers in the US.


Price:
$12.810
Subject:
REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias:
CAUTIOUS
Owned:
No
2017-08-03 TOP PICK Must be logged in to use chart GILD-Q Gilead Sciences Inc.

The whole sector has struggled and is cheap.  The concern is patent expiry.  They have large cash positions and the question is what they are going to do about it.  He thinks the stock is mispriced.  (Analysts’ target: $81.00).


Price:
$74.370
Subject:
REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias:
CAUTIOUS
Owned:
Yes
2017-08-03 BUY Must be logged in to use chart HOT.UN-T American Hotel Income Properties

He is looking at it now.  Assets are almost all in the US.  Until a couple of weeks ago their properties were rail hotels.  They are very specialized rooms and restaurants.  Rail workers can have mandated rests.  They spent about $400 Million US in the North East to buy Marriot and Hilton hotel locations in lower population areas.  They wanted to diversify because of softness in the rail business.  They are in the US where the US is growing.  It is cheap because they issued equity to make the acquisitions.


Price:
$10.000
Subject:
REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias:
CAUTIOUS
Owned:
No
2017-08-03 PAST TOP PICK Must be logged in to use chart JPM-N JP Morgan Chase & Co

(Top Pick Feb 17/16, Up 63.33%)  US banks are too cheap, 1.5 times book value, half that of the Canadian banks.  Dodd Frank will probably be pulled.  Interest rates are going up and that is good.  Tax reform will be problematic.  So he thinks it is still relatively cheap.


Price:
$92.500
Subject:
REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias:
CAUTIOUS
Owned:
Yes
2017-08-03 TOP PICK Must be logged in to use chart LNF-T Leon's Furniture

They are in retai,l but will not be displaced by AMZN-Q because you have to go sit on the couch, etc.  They have a tremendous amount of miss-valued real estate that they might someday spin out.  You are now starting to see synergies from The Brick.  (Analysts’ target: $19.00).


Price:
$18.070
Subject:
REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias:
CAUTIOUS
Owned:
Yes
2017-08-03 DON'T BUY Must be logged in to use chart MFC-T Manulife Financial

It is struggling to go higher.  When interest rates go up it is even better for lifecos than the banks.  It is a perfect storm for these when rates go up and markets go up.  The financial industry is getting lower margins now, however.  They are not making a lot in John Hancock and are looking to sell it.  They want to push it in to Asia and make a go of it there.  It is into a bad time, but you have to pick the right one.  He prefers Great West Life (GWO-T).


Price:
$25.700
Subject:
REITS, INCOME STOCKS & HIGH YIELD BONDS
Bias:
CAUTIOUS
Owned:
No
Showing 1 to 15 of 1,257 entries
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