TransGlobe Apartment REIT (TGA.UN.TO) Buy,…

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TransGlobe Apartment REIT (TGA.UN.TO)

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BUY

Have internalized their management, which is a very strong positive. Relatively undervalued.

TOP PICK

Privately bought a lot of apartments in Eastern Canada and gradually put them into the market. They're now finished. Multiple is only about 13%.

BUY

Residential apartments. His company owns about 9.5% of this company. Good value at this price.

BUY

Likes it. Just started buying. The apartment sector is somewhat defensive because if the economy goes down, demand for low rent housing increases. 3% increase allowed next year.

WEAK BUY

Apartments in Eastern Canada. It’s one you go in and out of. It’s not going to grow. A bit higher yield. At times it is a good value.

BUY

One of the larger apartment owners/managers in Canada. Good management. On an acquisition path, so will be back to the market for stock. This is a good thing.

BUY

Started with foreign investors coming in and buying a big block of apartments and converted it to a REIT. Good apartment product. A little higher yield than others.

BUY

TransGlobe (TGA.UN-T) or Pure Industrial (AAR.UN-X)? Pure industrial is the only pure industrial vehicle in Canada. Industrials have been a weak sector but this company does not have the lousy stuff. Been buying at a good level. Reasonable payout ratio. You have to assume industrials are going to get better. Both are good quality at the higher end yield. You’re not wrong with either.

BUY

This is a relatively new one. Apartments. There will be a lot more new issues. They want to add properties. There will always be new issues that will knock the price down a bit. About 8%. Not the same quality as a boardwalk. It’s going to become bigger. It’s fine. It spiked recently because it got put onto an index. People matching the index HAVE to buy it.

TOP PICK

Apartments. Got some private money and bought apartments all over the place, some good, some bad and then went public. Did a 2nd issue and it will become a much bigger REIT with apartments. Fairly high yield.

TOP PICK

REIT. Apartments largely concentrated in Ontario. Low cost financing. Net operating yield over the cost of buildings is 8% and finance is at sub 4% giving 400 basis point spread, which grows over time as rents go up. Professionally managed so tenants tend to stay.

WEAK BUY

Has mixed feelings. Quality of apartments is not what he would call high. They will experience higher growth. You are going to see slow accretive growth. In the long term, they are not the highest quality properties. There may be some deferred maintenance.

BUY

Apartment REIT. Will see significant growth over next two years. You will do very well. Will do accretive acquisitions this year.

BUY

7%+ yield. Assets are good – clean, safe, affordable apartments.

TOP PICK

Apartments are one of the more conservative areas. These people took part of their portfolio and went public and will do a whole bunch more. It will be a dynamic process. Don't necessarily buy now but it's something to look at. 7.1% yield.

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TransGlobe Apartment REIT (TGA.UN.TO)