Andrew Moffs PRO Real Estate Investment Trust PRV.UN-T DON'T BUY Sep 28, 2022

This buys small grocery anchored centres. It is so small that it is hard to get some love. If you own it, it is going to move around and will be very volatile. You are going to lose and gain. The main part of your return is going to be your yield, currently over 11%, which is sustainable. If you have the appetite to play these small kinds of names, just have a very long period and know who you are investing with. If you really want yield that bad, there are some large caps that are giving good yields.

There are large caps that are trading very cheaply. There is no reason to be in a microcap. Acquisitions should clear this up. 11.2% yield. Usually a double digit yield is a concern, but this is just neglect as opposed to over spending. The biggest challenge is the patience of the investor.

There are a number of REITs which are extremely tiny such as this, and it is not really an equity environment that is going to be able to receive the kind of attention they need. While a fine organization, they are going to have trouble seeing love and the stock price going up. The cash flow is stable.

A very small REIT, but it is starting to get traction and some interesting deals. Yield is not that great, so if you own, you might want to add in some of the large cap REITs to balance out your liquidity as well as increasing your yield.

A very small retail REIT. Management knows their real estate very well. You are buying tertiary products, think of a small town Sobey’s with a bank and the drugstore. Has a very stable kind of cash flow. It has run up, and any time this happens, he tends to be patient. There will be a time between now and the end of the year that fears of rising interest rates will come back and REITs will pull back. Dividend yield of 9.2%.

REITs in general are strong in the summer, different from most sectors. Last summer it had a pretty good run. Right now it is in a trading range. If it breaks above it you will run into an upward trend. It will continue until September.

Invests about 80% in industrial warehouse REITs, with the balance in office and retail. Elevated cost of capital, so it's in secondary markets. Above average leverage, resulting in a higher distribution yield. Limited growth because of cost of capital disadvantage. A yield play, not a growth play, and growth is what you want in this space.

Yield at ~9% is excellent for income investors. High quality business despite small size. Well managed with stable payout ratio that is not at risk. Would recommend holding.