OneREIT

ONR.UN-T

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Analysis and Opinions about ONR.UN-T

Signal
Opinion
Expert
COMMENT
COMMENT
April 18, 2017

This is retail, which has seen pressure. It has done quite well. An owner of secondary, tertiary market. For example, there are some great properties in Mississauga that are very solid, but a lot of its markets are in smaller markets. It has done a strategic review and looking at whether they should put themselves up for sale, sell properties, etc. Some of their tertiary markets are quite illiquid and can be challenging. Retail is a tough game and he prefers an urban focus, larger cities and some of the street front retail.

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OneREIT (ONR.UN-T)
April 18, 2017

This is retail, which has seen pressure. It has done quite well. An owner of secondary, tertiary market. For example, there are some great properties in Mississauga that are very solid, but a lot of its markets are in smaller markets. It has done a strategic review and looking at whether they should put themselves up for sale, sell properties, etc. Some of their tertiary markets are quite illiquid and can be challenging. Retail is a tough game and he prefers an urban focus, larger cities and some of the street front retail.

COMMENT
COMMENT
November 23, 2016

Retail strips in what he would characterize as secondary cities. With this, you are really banking on the payout ratio declining from 90% to about 80% next year, when some of their redevelopments starts to have a positive contribution on cash flow. Leverage is relatively high. He prefers Smart REIT(SRU.UN-T) which is a little better positioned, being larger and Walmart anchored.

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OneREIT (ONR.UN-T)
November 23, 2016

Retail strips in what he would characterize as secondary cities. With this, you are really banking on the payout ratio declining from 90% to about 80% next year, when some of their redevelopments starts to have a positive contribution on cash flow. Leverage is relatively high. He prefers Smart REIT(SRU.UN-T) which is a little better positioned, being larger and Walmart anchored.

DON'T BUY
DON'T BUY
September 2, 2016

Tertiary retail. This is undergoing a strategic review, and he doesn’t think a lot is going to happen with this review. They do have a couple of great properties that will attract a bit more attention, but also have many that are less attractive. He doesn’t like transition stories, so he would wait on the sidelines.

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OneREIT (ONR.UN-T)
September 2, 2016

Tertiary retail. This is undergoing a strategic review, and he doesn’t think a lot is going to happen with this review. They do have a couple of great properties that will attract a bit more attention, but also have many that are less attractive. He doesn’t like transition stories, so he would wait on the sidelines.

SELL
SELL
May 6, 2016

(Market Call Minute.) This is tertiary markets with some development risks.

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OneREIT (ONR.UN-T)
May 6, 2016

(Market Call Minute.) This is tertiary markets with some development risks.

COMMENT
COMMENT
September 11, 2015

Has gone through a rebranding and cut their dividend dramatically. It was an old, old structure with a high payout in tertiary markets which created a lot of weight on it. Management cut their dividend back to a responsible level. They have some very interesting development projects. Although it is a very small REIT, they have 15% of their balance sheet under development right now. While that is a risk, it is perhaps an opportunity in tertiary markets. This could have an accelerated outcome should the economy start to improve.

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OneREIT (ONR.UN-T)
September 11, 2015

Has gone through a rebranding and cut their dividend dramatically. It was an old, old structure with a high payout in tertiary markets which created a lot of weight on it. Management cut their dividend back to a responsible level. They have some very interesting development projects. Although it is a very small REIT, they have 15% of their balance sheet under development right now. While that is a risk, it is perhaps an opportunity in tertiary markets. This could have an accelerated outcome should the economy start to improve.

DON'T BUY
DON'T BUY
July 27, 2015

The stock is undervalued. It was a good thing that they cut the dividend. It is in tertiary markets and some require significant amounts of capital to turn them around.

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OneREIT (ONR.UN-T)
July 27, 2015

The stock is undervalued. It was a good thing that they cut the dividend. It is in tertiary markets and some require significant amounts of capital to turn them around.

COMMENT
COMMENT
March 18, 2015

This is a retail REIT and most of what they own is not of the highest quality. Faced some headwinds recently. They have a number of Zeller locations that have still not been re-tenanted, so their occupancy has gone lower. Bought some assets and raised equity at what he believes is a discount to their NAV. Payout ratio continues to remain above 100%.

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OneREIT (ONR.UN-T)
March 18, 2015

This is a retail REIT and most of what they own is not of the highest quality. Faced some headwinds recently. They have a number of Zeller locations that have still not been re-tenanted, so their occupancy has gone lower. Bought some assets and raised equity at what he believes is a discount to their NAV. Payout ratio continues to remain above 100%.

DON'T BUY
DON'T BUY
January 29, 2015

A good portion of the distribution is a return of capital. It is a haphazard set of assets. The management team has made the REIT much better than it was 5 years ago. But it will be hard for them to right size their balance sheet.

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OneREIT (ONR.UN-T)
January 29, 2015

A good portion of the distribution is a return of capital. It is a haphazard set of assets. The management team has made the REIT much better than it was 5 years ago. But it will be hard for them to right size their balance sheet.

DON'T BUY
DON'T BUY
September 5, 2014

Lower quality malls across Canada. Does not like that they pay out more than they earn (120%). They have old Zellers that they have to re-develop. He is on the sidelines, for now.

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OneREIT (ONR.UN-T)
September 5, 2014

Lower quality malls across Canada. Does not like that they pay out more than they earn (120%). They have old Zellers that they have to re-develop. He is on the sidelines, for now.

DON'T BUY
DON'T BUY
July 15, 2014

The economy in their areas is a little strained. It is under pressure still. High payout ratio and it is also doing development. Yield should be safe but it is not an area of growth.

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OneREIT (ONR.UN-T)
July 15, 2014

The economy in their areas is a little strained. It is under pressure still. High payout ratio and it is also doing development. Yield should be safe but it is not an area of growth.

DON'T BUY
DON'T BUY
July 9, 2014

Did a good job of growing their portfolio, but they have not done enough to lower their payout ratio. Thinks capital raising will become more difficult for lower cap REITs. They face some really tough leasing. A number of Zellers locations were not taken up by Target.

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OneREIT (ONR.UN-T)
July 9, 2014

Did a good job of growing their portfolio, but they have not done enough to lower their payout ratio. Thinks capital raising will become more difficult for lower cap REITs. They face some really tough leasing. A number of Zellers locations were not taken up by Target.

DON'T BUY
DON'T BUY
June 9, 2014

This is a portfolio of secondary retail strip assets. Trades at a discount to NAV, but his bias is towards larger, liquid, well-capitalized names with organic growth potential. While there is some organic growth potential here, it doesn’t really meet the leverage requirements.

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OneREIT (ONR.UN-T)
June 9, 2014

This is a portfolio of secondary retail strip assets. Trades at a discount to NAV, but his bias is towards larger, liquid, well-capitalized names with organic growth potential. While there is some organic growth potential here, it doesn’t really meet the leverage requirements.

HOLD
HOLD
April 29, 2014

Sponsored by the smart center group. A fine group. But they overpay on the distribution. He is not there because of the overpayment. Not one of his favorites. A little higher in the debt area so if rates rise it could impact them.

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OneREIT (ONR.UN-T)
April 29, 2014

Sponsored by the smart center group. A fine group. But they overpay on the distribution. He is not there because of the overpayment. Not one of his favorites. A little higher in the debt area so if rates rise it could impact them.

COMMENT
COMMENT
March 19, 2014

One of the smaller retail REITs in Canada. Have done a very good job over the last 2-3 years of using their cost of capital to improve the quality of their assets as well as trying to improve their balance sheet and payout ratios. Payout ratio is still above 100% and will remain above 100% this year on adjusted funds from operations. Doesn’t believe there will be a cut in distributions, but he would like to see more sustainability in their payout ratio before getting involved.

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OneREIT (ONR.UN-T)
March 19, 2014

One of the smaller retail REITs in Canada. Have done a very good job over the last 2-3 years of using their cost of capital to improve the quality of their assets as well as trying to improve their balance sheet and payout ratios. Payout ratio is still above 100% and will remain above 100% this year on adjusted funds from operations. Doesn’t believe there will be a cut in distributions, but he would like to see more sustainability in their payout ratio before getting involved.

BUY
BUY
February 28, 2014

REITs are outperforming what we see in high yield bonds. Bonds only return the coupon to the holder but REITs can grow. RMM has to focus on right sizing its balance sheet and increasing occupancy. The management team is doing that as we speak. Longer term they look good. The bond content of his portfolio is down to 30% and REITs are 10% but he is moving away from both classes into dividend paying stocks.

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OneREIT (ONR.UN-T)
February 28, 2014

REITs are outperforming what we see in high yield bonds. Bonds only return the coupon to the holder but REITs can grow. RMM has to focus on right sizing its balance sheet and increasing occupancy. The management team is doing that as we speak. Longer term they look good. The bond content of his portfolio is down to 30% and REITs are 10% but he is moving away from both classes into dividend paying stocks.

COMMENT
COMMENT
December 20, 2013

His only concern with this is that the payout is tracking at 121%, which is higher than all the others. However the bulk of their growth is coming out of Saskatchewan, which is one of the areas in Canada that is growing the fastest. This is one that has good growth and management, so far, have been able to deliver. 9% yield.

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OneREIT (ONR.UN-T)
December 20, 2013

His only concern with this is that the payout is tracking at 121%, which is higher than all the others. However the bulk of their growth is coming out of Saskatchewan, which is one of the areas in Canada that is growing the fastest. This is one that has good growth and management, so far, have been able to deliver. 9% yield.

DON'T BUY
DON'T BUY
November 20, 2013

9.4% dividend yield is very high when you compare it to the balance of the REIT industry. Their adjusted funds from operations payout ratio is around 120% right now. He wouldn’t be comfortable with that level. They are also facing some pressures on assets that are Zellers anchored and have not been taken up by Target (TGT-N). However, have done a good job of trying to grow into that distribution. If they are able to deal with the Zellers’ assets as well as complete some acquisitions over the next 12 months, they probably have a better chance of bringing that payout ratio over 100%.

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OneREIT (ONR.UN-T)
November 20, 2013

9.4% dividend yield is very high when you compare it to the balance of the REIT industry. Their adjusted funds from operations payout ratio is around 120% right now. He wouldn’t be comfortable with that level. They are also facing some pressures on assets that are Zellers anchored and have not been taken up by Target (TGT-N). However, have done a good job of trying to grow into that distribution. If they are able to deal with the Zellers’ assets as well as complete some acquisitions over the next 12 months, they probably have a better chance of bringing that payout ratio over 100%.

DON'T BUY
DON'T BUY
November 13, 2013

This one is tricky as the payout is 120% more than they earn. This is sustained by the fact that they have a large corporate owner who is helping the cash flow. They won’t cut the dividend because the corporate sponsor would feel the effects. Earnings were a little weak and they are having a lot of operational issues. Not a bad company, but the wrong structure.

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OneREIT (ONR.UN-T)
November 13, 2013

This one is tricky as the payout is 120% more than they earn. This is sustained by the fact that they have a large corporate owner who is helping the cash flow. They won’t cut the dividend because the corporate sponsor would feel the effects. Earnings were a little weak and they are having a lot of operational issues. Not a bad company, but the wrong structure.

COMMENT
COMMENT
September 24, 2013

This REIT pays more than it should. However, there is a comfort level for many investors in that it has a large weight by Smart Centers. The amount of overpayment is not enough that it will be changed but he prefers not to invest in this type of the vehicle. However, you get close to the retail market whose numbers are improving. 9.2% yield.

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OneREIT (ONR.UN-T)
September 24, 2013

This REIT pays more than it should. However, there is a comfort level for many investors in that it has a large weight by Smart Centers. The amount of overpayment is not enough that it will be changed but he prefers not to invest in this type of the vehicle. However, you get close to the retail market whose numbers are improving. 9.2% yield.

COMMENT
COMMENT
July 9, 2013

Has not owned this because its payout ratio was well above 100%. But he gives them credit for acquiring a number of assets over the last 2 years that has increased their market cap as well as brought down the payout ratio. 105%-110% payout ratio which is still a little bit too high for him. 8.7% yield and he doesn’t think there will be a dividend cut anytime soon.

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OneREIT (ONR.UN-T)
July 9, 2013

Has not owned this because its payout ratio was well above 100%. But he gives them credit for acquiring a number of assets over the last 2 years that has increased their market cap as well as brought down the payout ratio. 105%-110% payout ratio which is still a little bit too high for him. 8.7% yield and he doesn’t think there will be a dividend cut anytime soon.

DON'T BUY
DON'T BUY
January 31, 2013

Dividend, right now, is not being covered by underlying cash flows so payout ratio is in excess of 100%. Feels management is trying to high-grade the portfolio. In the process they have undertaken some redevelopments and there has been some vacancy associated with those redevelopments. On a pro forma basis he feels they can cover the dividend but that is unlikely to happen until mid-2014. His NAV target is about $6.25.

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OneREIT (ONR.UN-T)
January 31, 2013

Dividend, right now, is not being covered by underlying cash flows so payout ratio is in excess of 100%. Feels management is trying to high-grade the portfolio. In the process they have undertaken some redevelopments and there has been some vacancy associated with those redevelopments. On a pro forma basis he feels they can cover the dividend but that is unlikely to happen until mid-2014. His NAV target is about $6.25.

DON'T BUY
DON'T BUY
November 27, 2012

Cheap so you are going to get a low to mid-teen total return. However, looking at some of the comparative alternatives, you can get better than that with other names such as Calloway (CWT.UN-T) where on a risk adjusted basis, you get higher quality real estate in core markets with a lower payout ratio and a better balance sheet and a better total return.

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OneREIT (ONR.UN-T)
November 27, 2012

Cheap so you are going to get a low to mid-teen total return. However, looking at some of the comparative alternatives, you can get better than that with other names such as Calloway (CWT.UN-T) where on a risk adjusted basis, you get higher quality real estate in core markets with a lower payout ratio and a better balance sheet and a better total return.

TOP PICK
TOP PICK
November 20, 2012

8.4% yield. 20% of business is owned by Smart Centers. Trading at a discount to all the REITs out there. Smart centers gives them access to great management and great relationships. Primarily commercial properties. Zellers was about 10% of their business and now they will be able to find some really interesting tenants for those spaces.

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OneREIT (ONR.UN-T)
November 20, 2012

8.4% yield. 20% of business is owned by Smart Centers. Trading at a discount to all the REITs out there. Smart centers gives them access to great management and great relationships. Primarily commercial properties. Zellers was about 10% of their business and now they will be able to find some really interesting tenants for those spaces.

HOLD
HOLD
August 28, 2012

Not a bad REIT. Payout ratio is a concern for a number of people. They will have to spend capital to renovate some of its properties. Zellers in some of their properties. Investors are reasonably compensated for the risk. Not a lot of capital appreciation.

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OneREIT (ONR.UN-T)
August 28, 2012

Not a bad REIT. Payout ratio is a concern for a number of people. They will have to spend capital to renovate some of its properties. Zellers in some of their properties. Investors are reasonably compensated for the risk. Not a lot of capital appreciation.

DON'T BUY
DON'T BUY
August 20, 2012

(Market Call Minute.) Weaker assets. Great management team but high leveraged. Can’t see how payout gets below 100% without a cut.

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OneREIT (ONR.UN-T)
August 20, 2012

(Market Call Minute.) Weaker assets. Great management team but high leveraged. Can’t see how payout gets below 100% without a cut.

HOLD
HOLD
August 8, 2012

Yield is reasonably good. So well sponsored and has the Calloway REIT (CWT.UN-T) as major investors. Some interesting new developments. Had some issues with the Zellers stores and weren't sure what they were going to do with them. Market had anticipated that and didn't bat an eye when they announced they were going to lose them. Expect it will evolve in a fairly positive way. Dividend yield of almost 8%.

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OneREIT (ONR.UN-T)
August 8, 2012

Yield is reasonably good. So well sponsored and has the Calloway REIT (CWT.UN-T) as major investors. Some interesting new developments. Had some issues with the Zellers stores and weren't sure what they were going to do with them. Market had anticipated that and didn't bat an eye when they announced they were going to lose them. Expect it will evolve in a fairly positive way. Dividend yield of almost 8%.

DON'T BUY
DON'T BUY
July 20, 2012
(Market Call Minute.) It's going to be several years before the distribution is sustainable. High leverage.
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OneREIT (ONR.UN-T)
July 20, 2012
(Market Call Minute.) It's going to be several years before the distribution is sustainable. High leverage.
BUY
BUY
May 9, 2012
Has seen a number of different merger and acquisition activities going on in this space. This could be a potential for this company too. They have a diverse package of real estate, but not top quality, across Canada. Trading at a pretty significant discount to where others trade. 8.7% yield. Payout ratio is near 100% but is more sustainable than it has been in the past.
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OneREIT (ONR.UN-T)
May 9, 2012
Has seen a number of different merger and acquisition activities going on in this space. This could be a potential for this company too. They have a diverse package of real estate, but not top quality, across Canada. Trading at a pretty significant discount to where others trade. 8.7% yield. Payout ratio is near 100% but is more sustainable than it has been in the past.
DON'T BUY
DON'T BUY
April 16, 2012
8.3% payout. Has wonderful sponsorship in that it is in alliance with Calloway (CWT.UN-T). Payout is very high and the market is uncertain of it. There is also some vulnerability in that they have several Zeller’s stores and he doesn't know what is going to happen to them. Good management.
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OneREIT (ONR.UN-T)
April 16, 2012
8.3% payout. Has wonderful sponsorship in that it is in alliance with Calloway (CWT.UN-T). Payout is very high and the market is uncertain of it. There is also some vulnerability in that they have several Zeller’s stores and he doesn't know what is going to happen to them. Good management.
DON'T BUY
DON'T BUY
February 14, 2012
Historically has been one of the poorer quality REITs in Canada. Chronic over distribution, higher leverage and lower quality of real estate. There has been a change of management and an injection of higher-quality assets but they still have higher leverage and over distribution.
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OneREIT (ONR.UN-T)
February 14, 2012
Historically has been one of the poorer quality REITs in Canada. Chronic over distribution, higher leverage and lower quality of real estate. There has been a change of management and an injection of higher-quality assets but they still have higher leverage and over distribution.
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OneREIT(ONR.UN-T) Rating

Ranking : 1 out of 5

Bullish - Buy Signals / Votes : 0

Neutral - Hold Signals / Votes : 0

Bearish - Sell Signals / Votes : 0

Total Signals / Votes : 0

Stockchase rating for OneREIT is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.

OneREIT(ONR.UN-T) Frequently Asked Questions

What is OneREIT stock symbol?

OneREIT is a OTC stock, trading under the symbol ONR.UN-T on the (). It is usually referred to as or ONR.UN-T

Is OneREIT a buy or a sell?

In the last year, there was no coverage of OneREIT published on Stockchase.

Is OneREIT a good investment or a top pick?

OneREIT was recommended as a Top Pick by Derek Warren on 2017-04-18. Read the latest stock experts ratings for OneREIT.

Why is OneREIT stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.

Is OneREIT worth watching?

0 stock analyst on Stockchase covered OneREIT In the last year. It is a trending stock that is worth watching.

What is OneREIT stock price?

On , OneREIT (ONR.UN-T) stock closed at a price of $.