Bird Construction Income Fund

BDT-T

Analysis and Opinions about BDT-T

Signal
Opinion
Expert
WAIT
WAIT
March 9, 2011
Has huge exposure to the infrastructure build-out. $35 is a good entry point. On a cash flow multiple it is pretty inviting. The US exposure has always been a cause for concern, but the concern about infrastructure stocks has been put behind them. Every time it drops he gets back into the name.
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Has huge exposure to the infrastructure build-out. $35 is a good entry point. On a cash flow multiple it is pretty inviting. The US exposure has always been a cause for concern, but the concern about infrastructure stocks has been put behind them. Every time it drops he gets back into the name.
DON'T BUY
DON'T BUY
June 17, 2010
Has been either side of $30 for the last 6-9 months. Exposure to a pretty cyclical industry but are a major player out West. Given the build out in infrastructure in Western Canada, they're well positioned but a lot of this is priced into the stock. Distribution is relatively safe but doesn't see much upside.
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Has been either side of $30 for the last 6-9 months. Exposure to a pretty cyclical industry but are a major player out West. Given the build out in infrastructure in Western Canada, they're well positioned but a lot of this is priced into the stock. Distribution is relatively safe but doesn't see much upside.
PAST TOP PICK
PAST TOP PICK
April 22, 2010
(A Top Pick March 24/09. Up 76.6%.) Still likes.
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(A Top Pick March 24/09. Up 76.6%.) Still likes.
PAST TOP PICK
PAST TOP PICK
March 8, 2010
(A Top Pick March 24/09. Up 64.4% excluding distributions.) Winning some very good contracts. Incredibly conservatively managed. Still a Buy.
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(A Top Pick March 24/09. Up 64.4% excluding distributions.) Winning some very good contracts. Incredibly conservatively managed. Still a Buy.
BUY WEAKNESS
BUY WEAKNESS
December 7, 2009
Looking at this and others because of infrastructure aspects. 5.4% yield. Would be interested at $30.
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Looking at this and others because of infrastructure aspects. 5.4% yield. Would be interested at $30.
BUY
BUY
November 11, 2009
Very strong, conservative balance sheet. Believes the stimulus is only now starting to translate into real contracts in Canada. Still room to grow. 5.25% yield is easily sustainable.
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Very strong, conservative balance sheet. Believes the stimulus is only now starting to translate into real contracts in Canada. Still room to grow. 5.25% yield is easily sustainable.
BUY WEAKNESS
BUY WEAKNESS
October 7, 2009
Likes infrastructure stocks, which are all doing fairly decently. This one is a good looking stock. Steepness of the rise looks a little unfounded and wouldn't be surprised to see it coming down to the $33 level, which would be a good time to pick it up.
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Likes infrastructure stocks, which are all doing fairly decently. This one is a good looking stock. Steepness of the rise looks a little unfounded and wouldn't be surprised to see it coming down to the $33 level, which would be a good time to pick it up.
PAST TOP PICK
PAST TOP PICK
September 21, 2009
(A Top Pick June 29/09. Up 22%.) Great infrastructure story that is going to continue to grow. Generated 114% ROE last year. Incredibly cheap. Great management. 6% yield. When they convert they will continue as a dividend paying Corp. with effectively the same yield.
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(A Top Pick June 29/09. Up 22%.) Great infrastructure story that is going to continue to grow. Generated 114% ROE last year. Incredibly cheap. Great management. 6% yield. When they convert they will continue as a dividend paying Corp. with effectively the same yield.
BUY
BUY
July 20, 2009
Very conservative balance sheet and they like to have a lot of cash. Well positioned for the eventual impact of the Canadian stimulus. Solid company.
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Very conservative balance sheet and they like to have a lot of cash. Well positioned for the eventual impact of the Canadian stimulus. Solid company.
TOP PICK
TOP PICK
June 29, 2009
Diversification across Canada. Great operational performance and good profitability metric over time. 7.5% yield is expected to be maintained through conversion in 2011. Payout ratio is around 35%. Phenomenal balance sheet.
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Diversification across Canada. Great operational performance and good profitability metric over time. 7.5% yield is expected to be maintained through conversion in 2011. Payout ratio is around 35%. Phenomenal balance sheet.
BUY
BUY
March 25, 2009
Has been really beaten up. Have about $14.70 in cash. Payout ratio of about 36% in 08 and 09 will be more difficult. Very cheap.
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Has been really beaten up. Have about $14.70 in cash. Payout ratio of about 36% in 08 and 09 will be more difficult. Very cheap.
TOP PICK
TOP PICK
March 24, 2009
Infrastructure Play. Conservatively managed, low payout ratio. Only risk is if the backlog falters or they don’t do well competitively.
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Infrastructure Play. Conservatively managed, low payout ratio. Only risk is if the backlog falters or they don’t do well competitively.
SELL
SELL
December 8, 2008
(Market Call Minute.) Sees construction activity slowing quite dramatically in western Canada.
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(Market Call Minute.) Sees construction activity slowing quite dramatically in western Canada.
BUY
BUY
October 31, 2008
Over $1 billion backlog. Best of the infrastructure companies. Still making good money.
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Over $1 billion backlog. Best of the infrastructure companies. Still making good money.
BUY
BUY
September 19, 2008
General contractor and regarded as one of the best in Canada. Not a REIT so will be impacted by the trust legislation in 2011. Have a very healthy backlog with a lot of work in Western Canada. On his radar screen.
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General contractor and regarded as one of the best in Canada. Not a REIT so will be impacted by the trust legislation in 2011. Have a very healthy backlog with a lot of work in Western Canada. On his radar screen.
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