Yields just under 2% so not being rewarded to hold stock if it moves down.   Has broken out  from a lid since 2016, which is a bullish indicator.  It is probably over bought. It may pull back a bit.  

(Past Top Pick, January 23, 2017, Up 2%) He's looking closely at this after selling it. It's a good derivatives trade on oil improving and money returning to Alberta. The only problem is there hasn't been an absorption of new properties in Alberta yet though we likely will later this year.

Missed very big last quarter. One problem is that most assets are in Calgary, Edmonton and Saskatchewan, and the rental market there has been incredibly weak. There are signs of stabilization. The trouble is they are competing with condos, and they have large buildings. Last quarter, they came out with a significant amount of capital expenditures they have to put into their buildings. The positive is that they have a balance sheet that allows them to do CapX spending. Fantastic management and they are the biggest shareholder. Getting closer to the bottom and there is some stabilization. If you own, stick with it, but don’t buy it. Distribution yield is 5.7%, which he thinks is pretty safe.

A controversial call, because somebody downgraded it recently, which took the stock down a little. The yield is good and he likes management. A pristine balance sheet. Real estate is a laggard area, and he expects that part of the market to improve. Next 2 quarters are probably not going to be great and he is expecting a trough in Q2, which is when you really want to be in this, but you have to be 6 months ahead of that because the market is already looking for this. There is a 20% Short interest on this out of the US. Dividend yield of 4.70%. (Analysts’ price target is $46.68.)

Trades at a huge discount to replacement value, which he pegs at around $65. Apartments are a defensive asset class and this is a good example. If you are worried about house prices declining in Western Canada, people are going to rent instead of buy. You should see occupancy go up in low income Housing, which is where this company really benefits. 80% of the Net Operating Income comes from Alberta and Saskatchewan, which is why it trades at a sizable discount. Exceptional management team which owns 25% of the company. Dividend yield of 4.5%.

(Top Pick Nov 26/15, Up 12.38%) Largest apartment REIT in Canada.  There have been some concerns about lowering rents and marginally decreasing occupancy.  There was noise from Fort McMurray.  Net asset value is $66.  They had a special dividend last year.  They have a big short position.  It is an extremely well run company and he is buying on weakness.

Apartments, a lot of them in Western Canada including Fort McMurray. Dipped, but has recovered with the whole group. He would wait a quarter to see if they’ve overcome Fort McMurray and the Alberta exposure.