Stockchase Opinions

Michele Robitaille Atlas Cold Storage Income Trust FZR.UN-T DON'T BUY Apr 15, 2005

Doesn't own any names that are not paying a distribution. Wait until a distribution is actually reinstated. Have faced a number of issues on the accounting side which they are working through. Not a lot of information on the operational side.
$5.930

Stock price when the opinion was issued

investment companies funds
It's the ideal tool to help you make quicker, more informed decisions for managing and tracking your investments.

You might be interested:

DON'T BUY
Not a trust to own if you are focused on income. Still has more problems to deal with.
DON'T BUY
Stock continues to go down. Just languishing. Have a huge US exposure and are getting killed with the currency.
DON'T BUY
New management team is very good and should be improving the situation. Concerned about some of the senior managers leaving their plants to go to their competitors.
TOP PICK
Old management is gone. They own lots of assets. A non-cyclical business. The EBITDA went up this last quarter. The business is growing. It is hoped that they'll be able to start paying down their debt and reintroduce the distributions.
WEAK BUY
An interesting story at these levels. Had some issues on accounting which they seem to have gotten through. Restructured. A large part of their revenue comes from the US so will be affected by a stronger Cnd$. The business uses a lot of power. Doesn't expect a huge run up on the stock.
BUY
Just bought some a month ago based on the new management which is squeaky clean. Although some areas of their operations are a little bit weak, they think they will come back. Have a high debt level and paying pretty high yields on that debt, so with the cash flows that are coming in they are going to pay down the debt for the rest of the year, so no distribution until next year.
BUY
Has not acted well recently. Had 2 quarters in a row of improvement in their EBITDA. Focused now on selling some non-core assets to help reduce their debt. Once that gets down, they'll reinstitute the distribution and the stock should do better. Feels the distribution will be back on '06.
BUY
Feels they've cleaned up their act. Their accounting numbers are much better than they were in 2003. Most of the fees that were involved in their restructuring will go away this year which will improve cash flows. The warehouse sector in the US is improving. Probably undervalued at these levels.
DON'T BUY
Management has done a good job turning it around. Has gone through tough times. Not paying a distribution, A good value buy. Questions this type of business being in a trust. Not a good model.