Pure Multi-Family REIT LP (RUF.U.V)

(A Top Pick April 29/14. Up it .72%.) US$ holdings, so is actually up 22% because as a Canadian investor he receives the benefit of the currency exchange. These are Dallas (not Houston) Texas apartments. He has a target of $5.50. Yield of 7.83%.

This is one of those orphan companies. Very small with about a $130 million market cap. Trades in US or Cdn dollars on the Cdn exchange. Has kind of been forgotten in the shuffle. In the hottest market
in the apartment sector, i.e. Texas. Trades at a double digit discount to NAV. If you can wait a while, the market has to recognize its value. Yield of 8.28%.

You are good to own US real estate. His only complaint is that several board members are on the boards of other, similar companies. See his Top Picks tonight.

Likes it. Apartment REIT and they have apartments in the US. The difference in the US market is that the turnover is higher, as is the rent growth. Payout ratio is around 85%.

Garden style apartments in Texas. It is a really good buy at this point.

A big name for him, top 5 holdings. A little known REIT that is now available in Canadian dollars. Highest growth markets in Texas. Debt is manageable as is payout ratio. Over time people will realize how good it is and prices will continue to go up.

Nothing wrong with it. They are part of the Pure REITs and he would prefer the management team focused on only one thing. Prefers Tricon.

US exposure, apartments in Texas. Great yield in the 8% range. You are being paid to wait for this economic recovery that will affect Texas first. It is where professionals want to go and live.

8% distribution is safe. Texas based apartments. It is lagging.