Opinions
Derek Warren
Inovalis REIT
INO.UN-T
BUY
Sep 24, 2013
Stock price when the opinion was issued
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A small company, all France and a little bit of Germany. A very interesting way to play if you think office tenants will be leaving London and going over to Paris. They do have a larger asset manager behind them. He likes management and the properties. If you believe that something is going to happen and that Paris will benefit from BREXIT, then yes this is the name. He is a little concerned about the French economy.
Inovalis (INO.UN-T) or Dream Global (DRG.UN-T)? There is probably too much duplication to own both. These assets are a little more spread out, and concentrated in France. Instead of buying Canadian names that have exposure to Europe, he is actually going directly into Europe and buying some names.
Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Management has a decent record although recent quarters saw some misses with 5 out of the last 8 missed expectations. Shares have done well since 2016 asides covid's impact. Insiders own over 20%. Unlock Premium - Try 5i Free
This one holds only 4 assets in France and Germany. This is an opportunity to pick up some strong yield, while you are waiting for a European recovery. He sees more and more large investors, such as pension funds, going into Europe and buying up office buildings. Company is small and illiquid so it can be more volatile. Yield of 9% is sustainable. Average daily volume is only 14,000 so if buying, don’t put in a market order.