Plaza Retail REIT (PLZ.UN.TO)

He's more strategic in his REITs. Stays away from Alberta based like Artis. Playing defense. Looking for income coming from outside of Canada, such as with Dream Global. In Canada, likes the apartment REITs like Canadian Apartment. Would also look at the US.

Management owns a great deal of this company and he sees it as well run. It focuses on shopping and retail in Atlantic Canada and Quebec. He expects another distribution increase. He sees management as very active and engaged. He would love to own it, but can’t get the size they would want.

They are an orphaned retail REIT and AMZN-Q proof. Shoppers Drug Mart. It is a very well managed company. (Analysts’ target: $4.90).

Their underlying tenants are vulnerable to the technology displacement (AMZN-Q). Most properties are out East. You would not race to go here. They are in the retail headwinds. Insiders are buying and that is a positive, but not enough to hit a buy button.

10-year hold? The management team is good. With the 10-year time horizon, you are fine hanging on. They focus on value add, improving the quality of the portfolio as they acquire. Doesn’t think there are any issues, other than that some of their properties are in secondary markets. The portfolio should demonstrate pretty reasonable cash flow growth, and it is trading at a discount.

Technically, on a shorter term, there is no place to hang your hat. It broke a little bit of support. Had a big down day on April 26, and is now holding in at around $4.75. Sees some support coming in at around the $4.50 range. Dividend yield of 5.6%.

Retail focused in smaller markets and an expert in their field. A great company, and is looking very attractive at these prices. They have a nice development they are doing in Newfoundland, which he thinks is going to be a home run.

He doesn’t see this being a take-out candidate at these prices. Their properties are average, maybe on the smaller size. It has performed reasonably well. Yield of 5.2%.

He loves this retail REIT. While this is a small-cap REIT, it is very unique. Without having to go to the market, they are able to continue to create value through their development program. They’ve raised their dividend every year for over a decade. A great, solid name. Whenever this dips, you want to take advantage of it.

(A Top Pick Sept 11/15. Up 24.71%.) One of his favourites. They are constantly able to increase NAV. These are smaller markets, which they own and run.

(Market Call Minute) Better risk reward in other parts of the Canadian REIT market.

A little gem. A small-cap REIT in secondary markets, but is developing constantly. Without continually issuing equity, they have been able to increase NAV per share over time. The dividend is very safe. Management owns a ton of stock. One of his favourites. Has been underperforming lately, but its time will come.