Chartwell Seniors Housing

CSH.UN-T

TSE:CSH.UN

8.58
0.05 (0.58%)
Chartwell Retirement Residences is the largest participant in the Canadian seniors housing sector, with nearly 180 locations across Quebec, Ontario, Alberta, and British Columbia.
More at Wikipedia

Analysis and Opinions about CSH.UN-T

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
October 14, 2009
Have cut the distribution and he thinks it was sufficient enough that there shouldn't be a problem. Operations haven't been performing as well as expected. Probably better places to be.
Show full opinionHide full opinion
Have cut the distribution and he thinks it was sufficient enough that there shouldn't be a problem. Operations haven't been performing as well as expected. Probably better places to be.
HOLD
HOLD
September 3, 2009
Nursing homes. High yield. Has been challenged in the past. New management. A bit of a risky situation but his feeling is that it is going to improve.
Show full opinionHide full opinion
Nursing homes. High yield. Has been challenged in the past. New management. A bit of a risky situation but his feeling is that it is going to improve.
COMMENT
COMMENT
August 10, 2009
Has been an improving story. New numbers will be coming out shortly and he'll have a better feel for it. May be overpaying on its distributions. Had a lot of problems but changed management and are now refocused. He is happy to stay with him and thinks he will add more.
Show full opinionHide full opinion
Has been an improving story. New numbers will be coming out shortly and he'll have a better feel for it. May be overpaying on its distributions. Had a lot of problems but changed management and are now refocused. He is happy to stay with him and thinks he will add more.
COMMENT
COMMENT
July 20, 2009
Middle of the road to slightly above in terms of seniors housing. Residents tend to live here on investment portfolios and selling their homes. Homes are declining in value and investment portfolios are still off anywhere from 30% to 50%. He has a “wait-and-see” attitude on this one.
Show full opinionHide full opinion
Middle of the road to slightly above in terms of seniors housing. Residents tend to live here on investment portfolios and selling their homes. Homes are declining in value and investment portfolios are still off anywhere from 30% to 50%. He has a “wait-and-see” attitude on this one.
BUY
BUY
July 17, 2009
Seniors housing and have access to cheap CMHC financing. Good play on demographics over the longer term. High-quality assets. Risk/reward is quite good. Leverage is a little bit higher than some of the other REITs.
Show full opinionHide full opinion
Seniors housing and have access to cheap CMHC financing. Good play on demographics over the longer term. High-quality assets. Risk/reward is quite good. Leverage is a little bit higher than some of the other REITs.
WATCH
WATCH
July 13, 2009
Companies that are currently structured as REITs will have to come under tighter guidelines to continue to qualify. Business that is held under the REIT unit structure has to be passive in nature so it is a long that borderline. Thinks this one can easily restructure so it is not a concern to him. Watch to see what management does.
Show full opinionHide full opinion
Companies that are currently structured as REITs will have to come under tighter guidelines to continue to qualify. Business that is held under the REIT unit structure has to be passive in nature so it is a long that borderline. Thinks this one can easily restructure so it is not a concern to him. Watch to see what management does.
COMMENT
COMMENT
July 8, 2009
Owns/operates seniors’ residences in Canada and US giving a regulated and unregulated market. Loan to value is high at around 75% and too aggressive for this environment. Growth strategy will be hard to put in place. If you believe in the demographics, it probably has some value but he prefers a pristine balance sheet.
Show full opinionHide full opinion
Owns/operates seniors’ residences in Canada and US giving a regulated and unregulated market. Loan to value is high at around 75% and too aggressive for this environment. Growth strategy will be hard to put in place. If you believe in the demographics, it probably has some value but he prefers a pristine balance sheet.
PARTIAL BUY
PARTIAL BUY
June 25, 2009
Been through a lot including change of management. Vulnerable because their homes are not cheap and they depend a lot on people being able to sell houses. If you own, you could “dollar average” in with a bit more. Recent numbers have been better. Thinks 14% yield is sustainable.
Show full opinionHide full opinion
Been through a lot including change of management. Vulnerable because their homes are not cheap and they depend a lot on people being able to sell houses. If you own, you could “dollar average” in with a bit more. Recent numbers have been better. Thinks 14% yield is sustainable.
DON'T BUY
DON'T BUY
June 3, 2009
Seniors housing with a significant amount of US assets. No debt due you until it 2013. Always seems to be operational issues.
Show full opinionHide full opinion
Seniors housing with a significant amount of US assets. No debt due you until it 2013. Always seems to be operational issues.
PAST TOP PICK
PAST TOP PICK
May 26, 2009
(A Top Pick Apr 28/08. Down 38.11%.) Will come out of this downturn pretty good because of demographics and you get paid to wait. Able to get CMHC financing giving them a lower cost of capital. 14% distribution. Still a Buy.
Show full opinionHide full opinion
(A Top Pick Apr 28/08. Down 38.11%.) Will come out of this downturn pretty good because of demographics and you get paid to wait. Able to get CMHC financing giving them a lower cost of capital. 14% distribution. Still a Buy.
BUY
BUY
May 22, 2009
Has some good upside. Have access to low cost CMHC financing. Their business tends to be stable. Just had a change in CEO’s and the new one is more operationally focused. Comfortable with the 14.6% yield.
Show full opinionHide full opinion
Has some good upside. Have access to low cost CMHC financing. Their business tends to be stable. Just had a change in CEO’s and the new one is more operationally focused. Comfortable with the 14.6% yield.
HOLD
HOLD
May 4, 2009
Distribution is not safe. Stock has not done well. Problems with US holdings, Ontario and Quebec. Liquidity is a problem. He has seen the sell off, but is still rating it a hold.
Show full opinionHide full opinion
Distribution is not safe. Stock has not done well. Problems with US holdings, Ontario and Quebec. Liquidity is a problem. He has seen the sell off, but is still rating it a hold.
HOLD
HOLD
May 4, 2009
Stable business. Distribution is not safe. No room for requisitions. Stock has not done well. Hinted they want to get out of US. Growing in maintenance mode. Problems with Ontario and Quebec holdings, Liquidity a problem. He has seen the sell off, but is still rating it a hold.
Show full opinionHide full opinion
Stable business. Distribution is not safe. No room for requisitions. Stock has not done well. Hinted they want to get out of US. Growing in maintenance mode. Problems with Ontario and Quebec holdings, Liquidity a problem. He has seen the sell off, but is still rating it a hold.
BUY
BUY
April 27, 2009
(Market Call Minute) New Management – likes it.
Show full opinionHide full opinion
(Market Call Minute) New Management – likes it.
COMMENT
COMMENT
April 2, 2009
Senior housing. Have a lot of confidence in the new CEO that is coming in. Operational numbers trended well for the last couple of quarters. Expecting some good upside.
Show full opinionHide full opinion
Senior housing. Have a lot of confidence in the new CEO that is coming in. Operational numbers trended well for the last couple of quarters. Expecting some good upside.
COMMENT
COMMENT
March 25, 2009
Primary retirement housing in Canada and US. Had some operational issues right from its IPO. Some concerns if they will be able to meet debt obligations when they come due. If they could get their operating costs in line, they would be okay.
Show full opinionHide full opinion
Primary retirement housing in Canada and US. Had some operational issues right from its IPO. Some concerns if they will be able to meet debt obligations when they come due. If they could get their operating costs in line, they would be okay.
DON'T BUY
DON'T BUY
March 17, 2009
Senior housing facilities in Canada/US. An accretive acquisition and roll up story. You can buy seniors housing anywhere from 9 to 12-13 caps (?) and your cost of financing is in the 6%-8% range. Can tap into CMHC financing in Canada, but not in the US. Expect them to tread water for the foreseeable future. Have some issues with acquisition of the external developer and have always had operational issues. Better value and less risk elsewhere.
Show full opinionHide full opinion
Senior housing facilities in Canada/US. An accretive acquisition and roll up story. You can buy seniors housing anywhere from 9 to 12-13 caps (?) and your cost of financing is in the 6%-8% range. Can tap into CMHC financing in Canada, but not in the US. Expect them to tread water for the foreseeable future. Have some issues with acquisition of the external developer and have always had operational issues. Better value and less risk elsewhere.
BUY
BUY
February 3, 2009
(Market Call Minute.) Stock has been quite beaten up. Outlook for seniors housing is quite good. Have access to cheap liquidity from CHMC. Potential takeout.
Show full opinionHide full opinion
(Market Call Minute.) Stock has been quite beaten up. Outlook for seniors housing is quite good. Have access to cheap liquidity from CHMC. Potential takeout.
DON'T BUY
DON'T BUY
January 22, 2009
Beginning to hit some of their numbers operationally. Prefers other REITs.
Show full opinionHide full opinion
Beginning to hit some of their numbers operationally. Prefers other REITs.
VAGUE
VAGUE
December 16, 2008
Paying 17%, nice contract win, REITS are cheap, but he is not interested in this one.
Show full opinionHide full opinion
Paying 17%, nice contract win, REITS are cheap, but he is not interested in this one.
COMMENT
COMMENT
December 8, 2008
Very well run. Has been very acquisitive over the last few years but this has slowed down considerably. This will refocus them on the company operations, which is a good thing. Food, labour and energy costs have been moving higher into mid-2008. Expects to see these costs start to decline.
Show full opinionHide full opinion
Very well run. Has been very acquisitive over the last few years but this has slowed down considerably. This will refocus them on the company operations, which is a good thing. Food, labour and energy costs have been moving higher into mid-2008. Expects to see these costs start to decline.
COMMENT
COMMENT
November 20, 2008
Seniors/long-term-care space both in Canada and US. Have a history of forecasting cash flows and not meeting it. They now have a good chance of meeting their targets. He will be watching their next couple of earnings to see if they can meet their targets.
Show full opinionHide full opinion
Seniors/long-term-care space both in Canada and US. Have a history of forecasting cash flows and not meeting it. They now have a good chance of meeting their targets. He will be watching their next couple of earnings to see if they can meet their targets.
TOP PICK
TOP PICK
November 19, 2008
Recently announced results and they earned their distributions. Have plenty of funds to satisfy distribution requirements over the next year. 21% yield.
Show full opinionHide full opinion
Recently announced results and they earned their distributions. Have plenty of funds to satisfy distribution requirements over the next year. 21% yield.
DON'T BUY
DON'T BUY
November 3, 2008
Seniors housing REIT. Not been a big fan because operationally it has been very difficult. Prefers REITs that own real estate and lease it out long-term. Cut their distribution 30% and then lowered guidance to the point where they were over distributing again.
Show full opinionHide full opinion
Seniors housing REIT. Not been a big fan because operationally it has been very difficult. Prefers REITs that own real estate and lease it out long-term. Cut their distribution 30% and then lowered guidance to the point where they were over distributing again.
PAST TOP PICK
PAST TOP PICK
October 29, 2008
(A Top Pick Apr 28/08. Down 52%.) Dropped because of US$ exposure and market weakness. Debt to equity ratio is more severe than what he would like. High-risk story. Good possibility company gets consolidated when the market recovers. You can Buy, but only take a half position for now and Buy the rest later.
Show full opinionHide full opinion
(A Top Pick Apr 28/08. Down 52%.) Dropped because of US$ exposure and market weakness. Debt to equity ratio is more severe than what he would like. High-risk story. Good possibility company gets consolidated when the market recovers. You can Buy, but only take a half position for now and Buy the rest later.
HOLD
HOLD
October 2, 2008
Were focused on acquisitions and payout ratio continues to be more than 100%. The longer it stays down at these levels the more it could be bought and it should be held with that in mind.
Show full opinionHide full opinion
Were focused on acquisitions and payout ratio continues to be more than 100%. The longer it stays down at these levels the more it could be bought and it should be held with that in mind.
DON'T BUY
DON'T BUY
August 13, 2008
Reported yesterday and missed mainly because of currency exchange. Cut distributions about 30% earlier this year. Questions management’s ability.
Show full opinionHide full opinion
Reported yesterday and missed mainly because of currency exchange. Cut distributions about 30% earlier this year. Questions management’s ability.
PAST TOP PICK
PAST TOP PICK
August 7, 2008
(A Top Pick July 23/07. Down 40% total return.) Was a seller at higher prices. Have changed their philosophy, which makes him a little bit more optimistic. Instead of acquiring, they are focusing on their operations. One of the best operators in their business. Cost pressures are hurting their bottom line.
Show full opinionHide full opinion
(A Top Pick July 23/07. Down 40% total return.) Was a seller at higher prices. Have changed their philosophy, which makes him a little bit more optimistic. Instead of acquiring, they are focusing on their operations. One of the best operators in their business. Cost pressures are hurting their bottom line.
DON'T BUY
DON'T BUY
June 12, 2008
Cut their distribution recently, which was right. Strategy had been to grow into the distribution, which they failed to do. Offers fairly attractive value but you have to underwrite the growth to get an attractive return. Would be looking for it below $9.50 before Buying again.
Show full opinionHide full opinion
Cut their distribution recently, which was right. Strategy had been to grow into the distribution, which they failed to do. Offers fairly attractive value but you have to underwrite the growth to get an attractive return. Would be looking for it below $9.50 before Buying again.
HOLD
HOLD
June 2, 2008
People have not made money in this area. Have made a number of acquisitions and are creating a portfolio that someone will want. Almost always surprise on the negative in their reports. Have bought their convertibles, but not the stock.
Show full opinionHide full opinion
People have not made money in this area. Have made a number of acquisitions and are creating a portfolio that someone will want. Almost always surprise on the negative in their reports. Have bought their convertibles, but not the stock.
Showing 271 to 300 of 375 entries