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Opinions Garth Jestley
Retirement Residences REITRRR.UN.TOBUYJan 21, 2004
Doesn't expect any change in the distributions. Have been through a major capital expenditure program so haven't earned their distributions. Doesn't expect much upside, but has a 9% yield.
Garth JestleyOwned
$13.20
Stock price when the opinion was issued
property mngmntinvestment
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BUY ON WEAKNESS
Paul Reichmann plans to join the bidding for this company. Feels there will be more bids. At anything below $7.50, the risk/reward is very good and you should be buying.
Ravi SoodOwned
property mngmntinvestment
DON'T BUY
Three main retirement REITs that he owns are Sunrise Senior Living (SZR.UN-T), Chartwell Seniors Housing (CSH.UN-T) and Retirement Residences (RRR.UN-T). Chartwell would be his top pick. This one is going through a takeover process. Has underperformed.
Robert LauzonOwned
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PAST TOP PICK
(A Top Pick Dec 7/05. Up 5%.) Actually hit more than $10 and then pulled back. Still likes it and their properties and feels their distribution is sustainable.
Michael SprungOwned
property mngmntinvestment
BUY
Retirement Residence REIT earnings have not been great. The whole market is pricey. RRR is gradually improving and they are buying other assets. They have capital. They are developing some new retirement homes. Buyer beware again but believes they will do well and are showing lots of life. Buying in the 8's.
Charles DillinghamOwned
property mngmntinvestment
HOLD
Possible takeover target. Feels the value is about $10.50 a share. At the high end, it may be $10.75. If it gets near $10.50, sell it.
Ravi SoodOwned
property mngmntinvestment
