Opinions John Priestman
Retirement Residences REITRRR.UN.TOBUYDec 31, 2004
Retirement home business is very fragmented so it's an area where there is the opportunity to make accretive acquisitions. Likes all 3 of the plays in this space including Chartwell and Sunrise Senior. Had surplus capacity and a high yield, so cut its distribution, so it's a good turnaround story.
John PriestmanUnknown
$10.30
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
property mngmntinvestment
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
