Boston Pizza Royalties (BPF.UN-T) Stock Predictions - Stockchase
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Boston Pizza Royalties (BPF.UN-T)

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Boston Pizza Royalties

BPF.UN-T

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Boston Pizza Royalties (BPF.UN-T) SAVE Apr, 25, 2019, 2:07 am

17.71 0.27 (1.55%)

What the experts are saying about BPF.UN-T



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Signal Opinion Expert
DON'T BUY
The concern is the 8.2% yield at 85% payout. It may be sustainable. Earnings estimates have been shaved by 2% in the last 90 days. Growth is forecast to drop. It is 5 times PE to Growth next year so he prefers others.
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The concern is the 8.2% yield at 85% payout. It may be sustainable. Earnings estimates have been shaved by 2% in the last 90 days. Growth is forecast to drop. It is 5 times PE to Growth next year so he prefers others.
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Robert McWhirte

President, Selective Asset Mana...

Price Price
$16.960
Owned Owned
Unknown

DON'T BUY
It pays an 8% yield but has fallen more than that the past year. The trend says lower lows and lower highs. Not attractive. It's approaching and reacting to its 200-day moving average.
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It pays an 8% yield but has fallen more than that the past year. The trend says lower lows and lower highs. Not attractive. It's approaching and reacting to its 200-day moving average.
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Jon Vialoux

Research A, CastleMoore Inc....

Price Price
$17.020
Owned Owned
Unknown

DON'T BUY
It was one of the original restaurant royalty income companies. They have expanded quite rapidly. Their same store sales growth has been slowing and their payout ratio is slightly over 100%. He prefers to own the whole company and see it reinvesting in the business.
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It was one of the original restaurant royalty income companies. They have expanded quite rapidly. Their same store sales growth has been slowing and their payout ratio is slightly over 100%. He prefers to own the whole company and see it reinvesting in the business.
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Michael Simpson

Senior Vic, Sentry Investments...

Price Price
$16.960
Owned Owned
No

DON'T BUY
It is an okay company but same store sales growth is anemic. He prefers AW.UN-T. BPF.UN-T is okay for income but not for growth.
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It is an okay company but same store sales growth is anemic. He prefers AW.UN-T. BPF.UN-T is okay for income but not for growth.
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Peter Hodson

CEO & Head, 5i Research Inc....

Price Price
$16.380
Owned Owned
Unknown

DON'T BUY

He has a small short on this.  He is not worried about the sustainability of the dividend as this used to trade as a royalty income fund as all the cash flow is paid as dividends.  Overall he sees mid-sized Canadian consumer companies at risk in general, especially if the real estate market rolls over.  Yield 7%.

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He has a small short on this.  He is not worried about the sustainability of the dividend as this used to trade as a royalty income fund as all the cash flow is paid as dividends.  Overall he sees mid-sized Canadian consumer companies at risk in general, especially if the real estate market rolls over.  Yield 7%.

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James Hodgins

Chief Inve, Curvature Hedge Stra...

Price Price
$19.850
Owned Owned
No

COMMENT

Good distribution. His main concern is that this would be a little more sensitive to an economic downturn because receipts for company like this are going to be higher than something like an A&W. He would be fine with this holding. 6.2% dividend yield.

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Good distribution. His main concern is that this would be a little more sensitive to an economic downturn because receipts for company like this are going to be higher than something like an A&W. He would be fine with this holding. 6.2% dividend yield.

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Ryan Modesto

Managing P, 5i Research...

Price Price
$22.300
Owned Owned
Unknown

HOLD

Pizza companies do have different structures. Sometimes they are owners, and sometimes they are franchises. He thinks this is a good, long term hold. Good dividend.

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Pizza companies do have different structures. Sometimes they are owners, and sometimes they are franchises. He thinks this is a good, long term hold. Good dividend.

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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$22.730
Owned Owned
No

BUY

(Market Call Minute.) He likes the restaurant business. (See Top Picks.)

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(Market Call Minute.) He likes the restaurant business. (See Top Picks.)

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Norman Levine

Managing D, Portfolio Management...

Price Price
$21.520
Owned Owned
Unknown

HOLD

(Market Call Minute.) If it pulled back, it would be something he would add to.

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(Market Call Minute.) If it pulled back, it would be something he would add to.

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Bruce Campbell

President , Stone Castle Investm...

Price Price
$21.060
Owned Owned
Unknown

BUY

This is a pretty good entry point. If you can be patient, pick away at it through the summer, which might be a good way to accumulate a position.

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This is a pretty good entry point. If you can be patient, pick away at it through the summer, which might be a good way to accumulate a position.

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Michael Decter

President , Lawrence Decter Inve...

Price Price
$18.500
Owned Owned
Unknown

COMMENT

Boston Pizza Royalties (BPF.UN-T) or Brookfield Property Partners (BPY.UN-T)? 2 very disparate companies. This one has a very strong yield. As a royalty, it pays out a lot of its earnings back to investors, while the other has not as big a dividend, but has more room to grow it. He would tend to own the one that has the opportunity to grow its earnings, which is probably going to win most of the time. If he had to pick one of the 2, he would go with Brookfield.

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Boston Pizza Royalties (BPF.UN-T) or Brookfield Property Partners (BPY.UN-T)? 2 very disparate companies. This one has a very strong yield. As a royalty, it pays out a lot of its earnings back to investors, while the other has not as big a dividend, but has more room to grow it. He would tend to own the one that has the opportunity to grow its earnings, which is probably going to win most of the time. If he had to pick one of the 2, he would go with Brookfield.

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Brendan Caldwel

President, Caldwell Securities...

Price Price
$18.480
Owned Owned
No

PARTIAL SELL

It is difficult to predict where the consumer is going to channel their preferences.  With a slowdown, consumer sensitive stocks have more risk than they ever have.  He would consider trimming your position.

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It is difficult to predict where the consumer is going to channel their preferences.  With a slowdown, consumer sensitive stocks have more risk than they ever have.  He would consider trimming your position.

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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$17.200
Owned Owned
No

DON'T BUY

Had a very soft quarter. A big chunk of their business comes out of Alberta and sales have been slow in that part of the country. Wait on the sidelines until you see what happens in the Alberta market. (See Top Picks.)

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Had a very soft quarter. A big chunk of their business comes out of Alberta and sales have been slow in that part of the country. Wait on the sidelines until you see what happens in the Alberta market. (See Top Picks.)

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Steve DiGregori

Portfolio , Canoe Financial...

Price Price
$17.560
Owned Owned
Unknown

BUY

He is very comfortable with it and has a yield over 6.5%. 

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He is very comfortable with it and has a yield over 6.5%. 

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Allan Meyer

VP & Portf, Wickham Investment C...

Price Price
$21.650
Owned Owned
Unknown

COMMENT

There is fierce competition in the entire food sector.

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There is fierce competition in the entire food sector.

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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$19.530
Owned Owned
No

BUY

Fantastic management.  Looks for accelerated earnings growth, but they have every consistent growth.  5.9% growth.

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Fantastic management.  Looks for accelerated earnings growth, but they have every consistent growth.  5.9% growth.

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Bruce Campbell

President , Stone Castle Investm...

Price Price
$20.850
Owned Owned
Unknown

BUY

(Market Call Minute) Play on quick serve sit-down restaurants.  Very good at what it does.

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(Market Call Minute) Play on quick serve sit-down restaurants.  Very good at what it does.

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Norman Levine

Managing D, Portfolio Management...

Price Price
$20.750
Owned Owned
Unknown

COMMENT

Have done a fantastic job of growing same-store sales in the 2%-3% range, which is pretty good in a somewhat tough economy. This is kind of a hangover from the income trust era. Pays on virtually all of its earnings to shareholders and holds nothing back. His concern is that when interest rates start to rise, it’s a dividend stock, and that could cause it to drop a little bit. Also, if they need to invest more capital, that might imply a cut to the dividend at some point, but certainly not on the horizon. Doesn’t see a lot of upside from here.

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Have done a fantastic job of growing same-store sales in the 2%-3% range, which is pretty good in a somewhat tough economy. This is kind of a hangover from the income trust era. Pays on virtually all of its earnings to shareholders and holds nothing back. His concern is that when interest rates start to rise, it’s a dividend stock, and that could cause it to drop a little bit. Also, if they need to invest more capital, that might imply a cut to the dividend at some point, but certainly not on the horizon. Doesn’t see a lot of upside from here.

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Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$23.550
Owned Owned
No

HOLD

Has gone up about 4% in the last 10 days or so. They are able to buy back 7500 shares per day, a quarter of what is being traded. What does this mean and how should a 2% trailing stop be managed? The generally accepted rule is that a share buyback is a sign that management believes the company is undervalued and they are exercising their right to buy shares back while they are still cheap. Sit back and enjoy the ride as the share price goes up.

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Has gone up about 4% in the last 10 days or so. They are able to buy back 7500 shares per day, a quarter of what is being traded. What does this mean and how should a 2% trailing stop be managed? The generally accepted rule is that a share buyback is a sign that management believes the company is undervalued and they are exercising their right to buy shares back while they are still cheap. Sit back and enjoy the ride as the share price goes up.

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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$21.400
Owned Owned
Unknown

PARTIAL BUY

A royalty business and they don’t actually do anything, just sell franchises. As new restaurants mature, they get put into the pool. Wonderful business. Not growing very quickly and given the appreciation of the stock price, he wouldn’t be a very aggressive buyer here. 5.8% yield.

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A royalty business and they don’t actually do anything, just sell franchises. As new restaurants mature, they get put into the pool. Wonderful business. Not growing very quickly and given the appreciation of the stock price, he wouldn’t be a very aggressive buyer here. 5.8% yield.

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Fabrice Taylor

Publisher, The President's Club...

Price Price
$20.100
Owned Owned
Yes

TOP PICK

This is a franchise that is growing very, very nicely from a same store sales perspective. Well managed. 6.6% dividend.

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This is a franchise that is growing very, very nicely from a same store sales perspective. Well managed. 6.6% dividend.

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Karl Berger

Partner, Toron Investment Man...

Price Price
$18.480
Owned Owned
Yes

COMMENT
Boston Pizza or Pizza Pizza? Doesn’t follow either one. Boston Pizza has a better in store model. There is a huge hunger for yield.
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Boston Pizza or Pizza Pizza? Doesn’t follow either one. Boston Pizza has a better in store model. There is a huge hunger for yield.
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David Baskin

President, Baskin Wealth Manage...

Price Price
$17.360
Owned Owned
Unknown

DON'T BUY
Whenever possible, he likes to own the parent company, which is private. Their payout ratio is very high. He prefers Pizza Pizza (PZA.UN-T) and A&W (AW.UN-T).
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Whenever possible, he likes to own the parent company, which is private. Their payout ratio is very high. He prefers Pizza Pizza (PZA.UN-T) and A&W (AW.UN-T).
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Michael Simpson

Senior Vic, Sentry Investments...

Price Price
$18.200
Owned Owned
No

DON'T BUY
Management are selling some shares. They will be faced with taxes in 2011 at 26-30%.
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Management are selling some shares. They will be faced with taxes in 2011 at 26-30%.
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Michael Simpson

Senior Vic, Sentry Investments...

Price Price
$12.300
Owned Owned
No

HOLD
Likely to cut payout by 30%-35% when they convert to a corporation. Expect they have had shrinkage but are still earning their distributions. Still likes the underlying business.
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Likely to cut payout by 30%-35% when they convert to a corporation. Expect they have had shrinkage but are still earning their distributions. Still likes the underlying business.
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Gavin Graham

Trustee, Pointbreak ETFs...

Price Price
$11.060
Owned Owned
Yes

HOLD
Very solid management team. Names like this are going to be under some pressure as it is not high-end or low like McDonald's. Decent balance sheet.
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Very solid management team. Names like this are going to be under some pressure as it is not high-end or low like McDonald's. Decent balance sheet.
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Ben Cheng

President , Aston Hill Financial...

Price Price
$7.130
Owned Owned
No

DON'T BUY
The problem with this and a lot of other restaurant royalty/income trust is the moving towards conversion time. They basically have 24 months to resolve how they are going to restructure. His fear is that until that is done, these are dead money.
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The problem with this and a lot of other restaurant royalty/income trust is the moving towards conversion time. They basically have 24 months to resolve how they are going to restructure. His fear is that until that is done, these are dead money.
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Kevin O'Leary

Chairman, O'Leary Funds...

Price Price
$9.100
Owned Owned
Yes

DON'T BUY
Casual dining. Will have to change their structure in 2011. Some new stores are cannibalizing some of the older ones. Prefers others such as Pizza Pizza (PZA.UN-T).
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Casual dining. Will have to change their structure in 2011. Some new stores are cannibalizing some of the older ones. Prefers others such as Pizza Pizza (PZA.UN-T).
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Michael Simpson

Senior Vic, Sentry Investments...

Price Price
$10.310
Owned Owned
No

BUY
Restaurant sector in North America has been hurting. Same-store sales growth in this company continues to be positive. Has shrunk for now and will probably stay on the low level until the economy starts to pick up. Great franchise.
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Restaurant sector in North America has been hurting. Same-store sales growth in this company continues to be positive. Has shrunk for now and will probably stay on the low level until the economy starts to pick up. Great franchise.
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Norman Levine

Managing D, Portfolio Management...

Price Price
$11.550
Owned Owned
Yes

TOP PICK
A trust that never recovered from the government's taxation on income trusts. The best restaurant income trust. They have the best same-store sales growth. In a sweet spot that when customers feel good about themselves they trade up from fast food but when the economy starts to slow, they trade down from fancier restaurants. Almost 12% distribution.
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A trust that never recovered from the government's taxation on income trusts. The best restaurant income trust. They have the best same-store sales growth. In a sweet spot that when customers feel good about themselves they trade up from fast food but when the economy starts to slow, they trade down from fancier restaurants. Almost 12% distribution.
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Norman Levine

Managing D, Portfolio Management...

Price Price
$12.200
Owned Owned
Yes

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