Smart REIT (SRU.UN.TO)

This is retail, so there is a little bit of pressure with online sales. Also, Canadians have a little bit less money to spend. However, this company's largest tenant is Wal-Mart (WMT-N) along with the other kind of companies that would be in these anchored areas. Thinks this is a good time to buy into this. Cheap relative to their peers.

Trading at a larger discount to NAV than REI.UN-T. But you get a slightly lower growth. Sustainable payout ratio as well as a sustainable leverage. 99% occupancy level with Wal-Mart stores as tenants. Will grow free cash flow at a higher level than in the past since new CEO came in and is looking to provide value for investors.

Rates it as a sector perform with a 19% total return. He pulled some money out in favour of AX.UN. It has a 6% yield that is safe.

Wal-Mart anchor, who will continue to expand. It is fully leased so there is not a lot of growth, but it is a very safe investment with a 6% yield.

(Market Call Minute.) Has been selling some every time it gets up around $26. Dividend yield is safe. Doesn’t like the retail sector as much as he likes other sectors within real estate.

Very stable company. Very safe dividend. A good Buy and Hold.

This is diversified throughout Canada and he has it as an “outperform” with a $27 target. Good yield at 6.3%.

A great opportunity at these prices, excellent yield, stable portfolio, Wal-Mart anchored centers. A good time to get in. Down at the September lows. In 2014 it is a yield-first kind of market. They have lots of high quality cash flow and a stable yield.

A retail REIT that is focused on power centers across Canada, most of them anchored by Walmart (WMT-N), their largest tenant. This is one of the strongest REITs when it comes to occupancy and stable cash flows. A high quality name that is trading at a 10% discount to NAV.

This has been beaten up because interest rate sensitivity of the sector. REITs tend to do well in the summertime, but did not do well this year. This one is now actually starting to find some strength during the unfavourable period for REITs.

(Market Call Minute.) Going through a bit of a transition in the retail markets. Good name, but has taken on some big developments.

REITs are very sensitive to interest rates and they can only go one way (up). There is not a REIT in Canada that is of interest to him. There is a DRIP.

He exited the retail REITs this spring. International investors are stepping away from Canada, moving money to the US. The entire REIT sector is under pressure.

(Market Call Minute.) Trading at a discount to NAV.

Has this one as an Outperform. This is a good entry point. Pretty diversified throughout Canada.