Temple Hotels (TPH.TO) Buy, Sell or Hold

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Temple Hotels (TPH.TO)

2.10

-0.00 (0.00%)

as of Feb 21, 2020, 9:00:00 pm Market Open.

14 watching

PAST TOP PICK

(A Top Pick April 13/12. Up 7%.) Hotel properties, largely in the West with a lot in Fort McMurray. 8.4% yield is safe.

BUY

Amazing. Have a hotel in Fort McMurray and rooms go for about $225 a night and it does a very brisk business. What he likes more than that is that they are diversifying away from Fort Mac. Still staying in the West but are getting away from the strictly resource related lodging business. Yield of 8.6%.

COMMENT

Payout ratio 86%. Given the expected flow and some of the debt refinancing that can be done that will be brought down. This is based in the tar sands, which are doing well. Also have a big percentage of it based in Moose Jaw. Very small and very illiquid.

BUY

(Market Call Minute) Still more room. It is a buyers market with acquisitions and there are more dividend increases on the horizon.

COMMENT

A lodging REIT. Massive concentration in Fort McMurray so is levered to the oil sands. Leverage has been a concern for him. He is not a fan of lodging REITs is a cash flow, volatility and quality is weaker than other sectors.

DON'T BUY

Focused out west. With the net migration out there it has helped the stock. Shies away from Hotel REITs. Renovation must happen every 5 years. If economy slows down they get hit the hardest. The dollar hasn’t helped.

COMMENT

Lodging. Massive overweight in the Fort McMurray market. Has done well recently as oil has moved up to the $110 mark and he doesn't think the pullback to $83 will filter through to this company. Reported a great quarter. Both occupancy and average daily rate was up. Very highly leveraged 70% debt to asset value. Too much risk for him.

PAST TOP PICK

(A Top Pick April 13/12. Up 3.08%.)

COMMENT

Very small. Last year, this was one of the best performing REITs. Not sure of the numbers but probably still have a lot of debt. They are getting their revenues up. 8% dividend is probably alright. Definitely a caveat emptor.

TOP PICK

Owns and operates hotels in smaller communities such as Fort McMurray, Red Deer, Regina, everywhere where commodities are hot and business is booming. Management owns a lot of stock. Making very accretive acquisitions on hotels that are in financial difficulty. 8.4% yield.

COMMENT

Has been one of the best performing entities in the REITs. Just did an issue today. Seems to almost have a lock on Fort McMurray. Recently brought their occupancy up from 50% to over 70% and their room rents from $90-$111. Has always had a lot of debt. Nobody covers it. Looks like it is a survivor but is caveat emptor.

COMMENT

Very focused on hotels in Western Canada and, particularly, in Fort McMurray so it is a very leveraged bet on economic conditions and hotel market in particular in Fort McMurray. There are some risks to it. Good yield of 10.3%. Payout ratio indicates they are overpaying. Reasonable investment, but a high risk/high reward situation.

DON'T BUY

Did terribly, but has come back very strongly. Based apartments in the tar sands. Too small for him. Very high-risk level.

DON'T BUY

He is not a fan of lodging REITs. Duration of cash flow is very short. Very volatile and economically sensitive. Sponsorship and management of this REIT has not been very consistent.

BUY

Small cap ($84 Million), descent yield. Hotels in Ft. McMurray. As long as they keep doing projects in the oil sands, this one is ok.

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Temple Hotels (TPH.TO)