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Opinions Michael Simpson, CFA
Retirement Residences REITRRR.UN.TOWAITOct 07, 2005
Doesn't currently own, but is doing a lot of due diligence on it. Has an analyst visiting some of their sites. Starting to get attractive because it's believed that it's a REIT that's trading at it net asset value. Waiting for Q3 results to come out. May look at it if it gets cheaper.
$8.45
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
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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
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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
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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
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