Cominar Real Estate Inv Tr (CUF.UN.TO) Buy,…

Cominar Real Estate Inv Tr (CUF.UN.TO)

11.74

-0.00 (0.00%)

as of Mar 2, 2022, 9:00:00 pm Market Open.

139 watching

BUY

Making a hostile bid for Canmarc (CMQ.UN-T). Have really great property assets in Québec. Only trading at about 12X price to AFFO. Not over levered. Yield of about 6%. Stable properties and have access to capital. You'll probably earn 6% plus 6.7% in capital gains next year.

TOP PICK

Just made a hostile bid for another REIT, which would complement their portfolio. Almost 50% of their leases expire over the next 2 years. Management wants to double over the next 5 years through acquisitions. Good yield.

COMMENT

Very well managed. Concentrated largely in Quebec but made an interesting acquisition in Halifax. Have a fair amount of industrial in Quebec, which has been badly hurt with about 10% vacancy. Good but not a huge winner.

TOP PICK

US announcement of prolonged interest rates was a huge favor to the REIT section, and all high yielding equities. This is the pick up litter. Close to 7% dividend yield. Management owns 20%. Very well run.

BUY

Focused in Quebec where they have a dominant market position. Reasonably valued. You can count on the dividend.

PAST TOP PICK

(A Top Pick April 28/10. Up 28.13%.) One concern is that they have around 30% of its market cap in convertible debentures, 10% of which are in the money. Theoretically their units could grow by 10% in the next quarter so the next 10% is already spoken for.

PAST TOP PICK

(A Top Pick April 28/10. Up 24.75%.)

PAST TOP PICK

(A Top Pick March 19/10. Up 21.39%.) Quebec city industrial and office. Very good managers.

WEAK BUY

Very comfortable as a long-term investment. Yield is solid, well managed. Dominant player in Quebec Real-estate. Won’t see any great growth because it is large and heavily concentrated in Quebec but no issue holding for 2-3 year period.

TOP PICK

Management has a significant stake in the company. Planning on expanding their footprint in Atlantic Canada, which the market is not giving them credit for.

TOP PICK

Great job of delivering inline results each quarter. 14-15% (all in) from here. Very conservative management. Own a lot of stock themselves so they are on the same page.

PAST TOP PICK

(A Top Pick March 19/09. Up 13.46%.) Sold his holdings, probably too early, but still have some of their convertibles. He was concerned about Industrials in Quebec.

WEAK BUY

Very conservative. It was a small miss quarter. Admin costs are a little higher than expected. Concentrated in Montreal and Quebec, so not a core holding. 6.68% yield.

DON'T BUY

Clear leader in Quebec market place. Very strong management. Trades at a premium. Has owned it in the past.

BUY

Specializes in office properties in Quebec. Conservative because payout ratio is about 80%, which you always like. Riocan is close to 100%. Payout ratio could grow in the near future. He likes it. It is 2/3rds done. No change Jan 1, no conversion.

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Cominar Real Estate Inv Tr (CUF.UN.TO)