Plaza Retail REIT (PLZ.UN.TO)

Well managed. Made a very accretive acquisition where they acquired a lot of undervalued real estate that they will be able to monetize over the next few years as leases come due. Not cheap at these levels, but because of the growth potential, it is a good buy. Just converted into a REIT, so the distribution you are getting is much more favourable in terms of its tax treatment.

Really likes this. Had exited this in 2011 but got back in at $4.25 in the last couple of months. Good company that has good upside still.

Great property at a discount. Dividend increase coming up. Just merged with another REIT. It is a corp. converting into a REIT on Jan 1. Finding excellent opportunities to increase cash flows. Jan 10 X-dividend date.

You need growth in REITs now. Growing their earnings from strip malls and small shopping centers. Turning into a REIT in January so you will get much better yield and it will be return of capital going forward. Will be growing dividend every year.

Currently this is a Corporation, but will become a REIT soon. They recently took over Keyreit, which was a REIT where he did not like management but was crazy about the assets. Has always liked Plazacorp because of their great development experience. This gives you development upside, nice dividend that will be increased when they become a REIT, plus they have continuously grown their dividend. Yield of 5%.

(Market Call Minute.) Liked it a lot before they bought KEYreit.

Has followed this for quite some time but has not owned it because the size has been too small for his operations. Recently acquired Key REIT which was an owner of single tenant assets. Their largest tenant was Shoppers Drug Mart (SC-T) but also owned assets that are tenanted by Taco Bell, KFC and Pizza Hut. This transaction is accretive to free cash flow but also increases their leverage. From his perspective, it is not an upgrade to the quality of their portfolio. Going forward, they are going to have to integrate this portfolio into their current assets and they are going to have to bring down leverage. Yield is very stable. Trading close to its NAV but he wouldn’t be adding to it right now.

This is one that is getting a bit of attention now and didn't for a long time but is still very illiquid. Have shopping centers in Québec, Maritimes. Excellent performance numbers and top management.