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Compiling comments that experts make about stocks while on public TV.

2017-09-13

Opinion for Boardwalk REIT (BEI.UN-T)

Signal Price Bias Subject Owned
HOLD $39.030 UNKNOWN REITs, BONDS AND DIVIDEND STOCKS No

Missed very big last quarter. One problem is that most assets are in Calgary, Edmonton and Saskatchewan, and the rental market there has been incredibly weak. There are signs of stabilization. The trouble is they are competing with condos, and they have large buildings. Last quarter, they came out with a significant amount of capital expenditures they have to put into their buildings. The positive is that they have a balance sheet that allows them to do CapX spending. Fantastic management and they are the biggest shareholder. Getting closer to the bottom and there is some stabilization. If you own, stick with it, but don’t buy it. Distribution yield is 5.7%, which he thinks is pretty safe.

Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management http://www.avenueinvestment.com/

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