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Opinions Charles Dillingham
Retirement Residences REITRRR.UN.TOHOLDOct 31, 2005
There has been an inclination to give the management the benefit of the doubt. They do have an older product. The stock is acting as if they are going to have to make another cut in distributions. Nursing home situation seems to be improving over all.
Charles DillinghamOwned
$7.33
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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