Opinions
Andrew Moffs
Invesque
IVQ.U-T
DON'T BUY
Apr 30, 2020
It is a healthcare REIT, operating more in the US. Management is talented and are creative but are in a tough spot today. They have had to suspend their distribution.
N/A
Stock price when the opinion was issued
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DON'T BUY
It is a healthcare REIT with a high concentration in the US. They operate medical office buildings, skilled nursing, and retirement homes. The market has not accepted this stock. It is rumoured to have gone through a strategic alternative process. It trades at a discount to net asset value. A sale might be the best thing for them. The medication reimbursement environment in the US has been challenged.
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COMMENT
High risk, high return. Thinks highly of management. Good job growing portfolio. Exclusively in US, but listed in Canada. Healthcare sector. Not obvious what the catalyst will be for the stock. More security owning the debentures. Can be binary as to whether cashflows will support current distribution. Not for the risk-averse.
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