Gail Mifsud
Royal LePage Franchise Service
RSF.UN-T
BUY
Jun 09, 2006
This is a business trust that is focused on the residential market. They have a network of real estate brokers. Low debt leverage and a low payout ratio.
Feels the housing market in Canada will continue to do well. Produces nice cash flows. Their payout ratio is 75/80% which gives lots of cushions. A lot of their cash flow comes from fixed fees, not necessarily commissions.