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Opinions Michael Simpson, CFA
Westfield REITWFD.UN.TOTOP PICKDec 30, 2005
Focused on office, commercial buildings in the prairie provinces. Led by a really strong real estate management team. Trading at a reasonable valuation near its net asset value. Yields over 9%. Sometime in the 2nd quarter they will do a reverse consolidation which will attract more names to this. Should have good upside and could be a takeover target.
Michael Simpson, CFAOwned
$13.50
Stock price when the opinion was issued
property mngmntinvestment
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Good exposure to western Canada. Relatively new group from the point of size and new ventures they have. An up and coming REIT.
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(A Top Pick March 3/06. Up 4.5% plus distributions.) Still likes it.
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This is a newer REIT. It is trading around $8.55. It has to prove itself but has expanded and taken on new properties. Believes it is an up and coming. It is largely Western based. It is one to hold and he recommends buying.
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He started to buy Westfield REIT last year. It has a geographic concentration west of the Ontario border, trying to buy class A properties and class B and C centres. (Sears Centre in Grand Prairies)Very capable real estate people..
Sandy McIntyreOwned
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Michael Simpson, CFAOwned
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