Artis Real Estate Investment Trust (AX.UN.TO)

Not one of her preferred REITs. Tended to grow somewhat aggressively without a huge view in terms of strategy of what markets and products they were in, in terms of property classes and quality of the assets.

(Top Pick Jun 17/13, Up 9.67%) It continued to do better after he sold. He was concerned about offices in Calgary. The market is constantly in flux and the average worker has much more space than in Toronto. Looking for a pullback to get back in.

Likes it. Their debt does not require that they pay back much over the next 2-3 years.

(A Top Pick April 4/13. Up 5.04%.) Continues to like. Doesn’t feel they have gotten enough credit with respect to what they have done to the balance sheet and payout ratio. Management unfortunately has been faced with a “we’ll wait and see” from most investors. They are now starting to come into the name. It will re-rate to a higher multiple from his perspective. About 20% invested in the US.

(Top Pick Feb 22/13, Up 5.63%) Most of assets are concentrated in the west. They bounced back. The geography is important. Well run, good dividend, good cash flow and low payout.

(Top Pick Jun 17/13, Up 5.55%) He was worried about the development of office properties in Calgary. This is one he thinks he should have bought back at the bottom. The US properties have performed very well. Concern in Calgary is that he is not sure if the oil companies will use all the office space being built.

Likes this. It is diversified in a proper way. Focused out West and has office as well as having some rational exposure to the US. Very good operators. Trades at a bit of a discount compared to Northwest Healthcare Property REIT (NWH.UN-T).

(Market Call Minute.) Represents some pretty good value. Trading at a substantial discount to NAV. They don’t get enough credit for some of the acquisitions they made in the US.

(A top pick Feb 22/13. Up 0.66%.) Really likes their properties and where they are located. Good management. Good cash flow. Feels this could outperform by increasing earnings going forward. Still recommending this for his income oriented people.

(A Top Pick June 17/13. Up 0.62%.) Sold his holdings. Their US holdings are doing very well and you are getting the currency benefit. He is a little suspicious of their exposure to the Calgary office market. If you own, be patient and you’ll be fine.

Likes it and the yield. Broad based business. There will be pressure down if interest rates go up. They can increase dividends which would offset an increase in bond yield. Thinks they are okay.

His favourite Canadian REIT because they have a lot more properties out West, including Alberta, Manitoba and Minnesota.

(Market Call Minute) Been beat up too much and some good upside now.

(Market Call Minute) Hold for dividend only.

High quality diversified REIT with a pretty good yield of 7.5%. Suffered with all the REITs since spring. Question is going to be what the cash flow is worth to people. Thinks the dividend is sustainable. Growth is going to be harder to find than it has been in the last 2 years. Had been trading at very high multiples that allowed them to buy properties, bring them in and get a lift.