Tricon Capital Group (TCN.TO)

They are a junior version of a BAM.A-T. They have a hot opportunity in the form of single family properties in the US sun belt. There are secular growth trail winds in single family rental homes. (Analysts’ Target: $12.56).

(A Top Pick Jan 6/16. Up 15.37%.) US housing was doing really well and they have one of the biggest US residentials. They own homes and rent them out. Thinks it took a breather when there were fears of a US recession. He expects the stock to continue to rebound.

Chart shows a series of higher highs and higher lows, but is a little bit iffy on the high side. We are still not in the new high area, and on the verge of pulling back a bit. He would give the chart a 6 out of 10. If you own, continue to hold.

Market cap has come up to about $1 Billion. They did a good job of getting into US residential real estate at the bottom of the market. Pullbacks are opportunities. Housing formation is outpacing housing starts in the US.

(Market Call Minute.) The stock was weak in the past couple of days on fears of the hurricane. But he was told that only 10% of their property has exposure. This may be a buying opportunity and he is looking into it.

He is increasing his US exposure. He is looking to buy good hard assets in the US and this does it. It is a good way to get currency out of Canada. It has a decent yield and growth. Management owns a lot of the stock.

He likes this and feels it is a good entry point. Good management.

(Market Call Minute.) Single family home strategy in the US and trading at a discount to NAV. He would buy more if it got a little cheaper.

A huge fan. He likes the US housing market at this point. Picking this up in the mid-$9s or lower is a great plan. You get a bit of a yield of about 2.8%, and you get to play the US housing recovery.

(Market Call Minute.) A well-managed company. A little more expensive, but exposed to good demographic trends in the US real estate industry.

A theme that he really likes is multifamily US housing. He has done really well on similar companies. These are land and development people but have also got into single family housing in the US. A very interesting company, which he thinks is undervalued. Dividend yield of 2.54%

Good for a long term investment. Internal rate of return north of 15%. They have good growth potential. Half their assets are their own money and the rest is other people’s.

This does residential real estate, and do it in a number of forms. You have rental apartments, they sell land to homebuilders, and all these businesses you see have a good yield. They also have the ability to grow that. Feels they have been penalized for temporary reasons, so there is a big discount to where the peer group is.

(Market Call Minute.)

(Top Pick Sep 2/15, Down 18.40%) He sold it last November.