Related posts
Nervous markets await NvidiaHas a very nice portfolio of low income-ish kind of housing, so occupancy is very stable. Because of the stability of income, they do tend to run at a higher payout ratio and a higher debt level than he is comfortable with. In the past, they have shown the ability to turn these apartments around, raise rents, and increase income over time.
He likes the apartment REIT space because of the safety it offers. There are a number of opportunities that he sees in the large cap space that would be a preferred investment to this. This one is very small and highly levered. Great portfolio, but he thinks others have a better balance sheet and a better price.
He likes the apartment space at all times. Some of the stocks have had a bit of a run because people like the safety that is in apartment REITs. That is also attracting a lot of institutions into buying apartments as well. That has really driven the price up. This one's payout is a little high, so he hasn't been in this. Yield of about 8.5%.
He is really focused on organic growth versus growth by acquisition. This REIT happens to be externally managed, and he prefers internal management. Making acquisitions is good, because it increases the size and liquidity of the REIT, and hopefully that increases the institutional appeal. However, this one continues to trade at a discount to NAV. The acquisition they recently did, according to his math, was barely accretive, and remains highly leveraged with a high payout ratio. He would prefer something like Pure Multi-Family REIT (RUF.UN-T), which is somewhat similar in yield of about 8%, but it also has US apartment exposure.
Trading at a deep discount to its NAV at about $9. Had a lousy quarter in the winter because it was so cold and everybody was cranking up their heat. As new renters move out, they are able to charge people for the Hydro, so that will really improve. Distribution is completely safe. Yield of 8.7%. This is a real asset and is not one that can be replaced.
(A Top Pick Feb 26/13. Down 12.54%.) Did a 2 for 5 stock split in March. Not happy with the outcome, but this is a factor of the entire REITs market. Surprised that REITs have not come back with the bond yields shrinking. Has good faith in apartment buildings in Canada. There is a lot of margin of safety in this type of business. When REITs come back into favour, this one will recover.
True North Apartment REIT is a OTC stock, trading under the symbol TN.UN-T on the (). It is usually referred to as or TN.UN-T
In the last year, there was no coverage of True North Apartment REIT published on Stockchase.
True North Apartment REIT was recommended as a Top Pick by on . Read the latest stock experts ratings for True North Apartment REIT.
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
0 stock analysts on Stockchase covered True North Apartment REIT In the last year. It is a trending stock that is worth watching.
On , True North Apartment REIT (TN.UN-T) stock closed at a price of $.