Crombie Real Estate Investment Trust (CRR.UN-T) Stock Predictions - Stockchase
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Crombie Real Estate Investment Trust (CRR.UN-T)

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Crombie Real Estate Inves...

CRR.UN-T

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Crombie Real Estate Investment Trust (CRR.UN-T) SAVE Apr, 19, 2019, 8:33 am

14.31 0.11 (0.77%)

About Crombie Real Estate Investment Trust (CRR.UN-T)

Crombie REIT is a Canadian unincorporated open ended publicly traded real estate investment trust which trades on the Toronto Stock Exchange and is based in New Glasgow, Nova Scotia. More at Wikipedia

What the experts are saying about CRR.UN-T



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BUY on WEAKNESS
A good management team. They are the largest landlord to Sobeys, the largest grocery store in Canada. This is a landlord that is positioned to understand what e-commerce is going to do to physical real estate. They are trading at a discount and he would be picking away here.
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A good management team. They are the largest landlord to Sobeys, the largest grocery store in Canada. This is a landlord that is positioned to understand what e-commerce is going to do to physical real estate. They are trading at a discount and he would be picking away here.
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Joshua Varghese

Portfolio , Signature Global Ass...

Price Price
$14.180
Owned Owned
Unknown

COMMENT
He likes REITs overall. REITs picked up in Q4. This one is stable but it is not the cheapest. He prefers others. It has a good yield but you can get better. He is neutral.
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He likes REITs overall. REITs picked up in Q4. This one is stable but it is not the cheapest. He prefers others. It has a good yield but you can get better. He is neutral.
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Jason Mann

CIO & Co-F, Edgehill Patners...

Price Price
$13.810
Owned Owned
Unknown

BUY
Sobeys is the prime tenant. He owns the bonds but is looking at the stock. This is going to become a lot more of an actively managed company. They are looking at growing and diversifying the portfolio and so this could result in more growth in the future.
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Sobeys is the prime tenant. He owns the bonds but is looking at the stock. This is going to become a lot more of an actively managed company. They are looking at growing and diversifying the portfolio and so this could result in more growth in the future.
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Stephen Takacsy

Chief Inve, Lester Asset Managem...

Price Price
$13.670
Owned Owned
Unknown

HOLD
This company leases to Sobey’s. At his value, it is heavily discounted and there is good development potential. He questions where the capital is going to come from. So he continues to watch, but views it a good hold.
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This company leases to Sobey’s. At his value, it is heavily discounted and there is good development potential. He questions where the capital is going to come from. So he continues to watch, but views it a good hold.
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Joshua Varghese

Portfolio , Signature Global Ass...

Price Price
$12.970
Owned Owned
No

BUY

Thinks it will be fine, despite Amazon. Debt still a bit high. Q2 was solid, occupancy at 96%. Substantial growth pipeline. Modelling 3.2% growth rate 2017-19. Payout ratio is 82%. Distribution is about 6.7%. Pretty cheap, 12.2x next year. Yield sensitive, so if rates go up, it won’t do the heavy lifting for your portfolio. You can own it here.

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Thinks it will be fine, despite Amazon. Debt still a bit high. Q2 was solid, occupancy at 96%. Substantial growth pipeline. Modelling 3.2% growth rate 2017-19. Payout ratio is 82%. Distribution is about 6.7%. Pretty cheap, 12.2x next year. Yield sensitive, so if rates go up, it won’t do the heavy lifting for your portfolio. You can own it here.

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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$13.010
Owned Owned
Unknown

COMMENT

It's getting swept up in the same issue as its peers, like Riocan and Choice Properties--all high-quality REITs that hold retail. In the U.S. there's been a mass sell-off of retail. All such REITs have been swept up in this sell-off and are trading at discounts to NAV. Recently, these REITs have rebounded though. All are selling assets and reinvesting that cash in their core locations. This includes Crombie. But these are long-term projects. Steady over the long-term to own, though don't expect a spike anytime soon.

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It's getting swept up in the same issue as its peers, like Riocan and Choice Properties--all high-quality REITs that hold retail. In the U.S. there's been a mass sell-off of retail. All such REITs have been swept up in this sell-off and are trading at discounts to NAV. Recently, these REITs have rebounded though. All are selling assets and reinvesting that cash in their core locations. This includes Crombie. But these are long-term projects. Steady over the long-term to own, though don't expect a spike anytime soon.

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Joshua Varghese

Portfolio , Signature Global Ass...

Price Price
$13.220
Owned Owned
Unknown

HOLD

He owns the debenture not the REIT. He likes the company and management. They are the real estate arm of Sobey’s, which has struggled after the Safeway acquisition. There is little chance for the dividend to be cut because of the class of tenants. However, there is not much room for growth. It is a defensive REIT that will just likely pay the distribution. Yield 7%.   

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He owns the debenture not the REIT. He likes the company and management. They are the real estate arm of Sobey’s, which has struggled after the Safeway acquisition. There is little chance for the dividend to be cut because of the class of tenants. However, there is not much room for growth. It is a defensive REIT that will just likely pay the distribution. Yield 7%.   

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Paul Gardner, C

Partner an, Avenue Investment Ma...

Price Price
$13.130
Owned Owned
No

COMMENT

This is the real estate arm of Empire, and the major tenant is Sobey’s, which is struggling. About 30% of their rental is from Sobey’s. A strong, defensive style REIT, because it is generally anchored by non-cyclical retail outlets. You are going to clip your 6.5%, but doesn’t think you’re going to make anything more than that. This is not a growth story. He owns their debt.

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This is the real estate arm of Empire, and the major tenant is Sobey’s, which is struggling. About 30% of their rental is from Sobey’s. A strong, defensive style REIT, because it is generally anchored by non-cyclical retail outlets. You are going to clip your 6.5%, but doesn’t think you’re going to make anything more than that. This is not a growth story. He owns their debt.

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Paul Gardner, C

Partner an, Avenue Investment Ma...

Price Price
$13.760
Owned Owned
Yes

HOLD

It did not get caught up in the troubles at Sobeys.  They bought some real estate from Safeway after accusation by EMP-T.  He was nervous about being Amazoned (AMZN-Q).  REITs historically have difficulty in rising interest rate environments.  He sold although there is nothing wrong with it.

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It did not get caught up in the troubles at Sobeys.  They bought some real estate from Safeway after accusation by EMP-T.  He was nervous about being Amazoned (AMZN-Q).  REITs historically have difficulty in rising interest rate environments.  He sold although there is nothing wrong with it.

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Bruce Campbell

President, Campbell and Lee Inv...

Price Price
$13.460
Owned Owned
No

COMMENT

Chart shows a bit of a base followed by a bit of a break out. What can happen after you get a break out is that you get a bit of a test down to the old break out. If it does bounce off that and moves up, it could be a very good stock.

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Chart shows a bit of a base followed by a bit of a break out. What can happen after you get a break out is that you get a bit of a test down to the old break out. If it does bounce off that and moves up, it could be a very good stock.

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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$14.320
Owned Owned
Unknown

COMMENT

Because Sobey’s is the main tenant, there is a lot of looking at the Empire stock right now. That has put pressure on the real estate. The concern is that the Empire Group, in order to raise money to fix their grocery business, will sell the rest of their real estate down into Crombie, which would mean a very large equity issue. Because of that, he is not there right now. He is waiting to see what happens.

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Because Sobey’s is the main tenant, there is a lot of looking at the Empire stock right now. That has put pressure on the real estate. The concern is that the Empire Group, in order to raise money to fix their grocery business, will sell the rest of their real estate down into Crombie, which would mean a very large equity issue. Because of that, he is not there right now. He is waiting to see what happens.

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Derek Warren

Asst Vice , Lincluden Investment...

Price Price
$13.500
Owned Owned
No

HOLD

The volatility is a reflection of the broader real estate sector.  It has to do with the threat of rising interest rates.  They can benefit from underlying growth in Sobeys.  This REIT is not very affected by EMP-T’s difficulties in integrating Safeway.

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The volatility is a reflection of the broader real estate sector.  It has to do with the threat of rising interest rates.  They can benefit from underlying growth in Sobeys.  This REIT is not very affected by EMP-T’s difficulties in integrating Safeway.

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Andy Nasr

VP & Inves, Sentry Investments...

Price Price
$13.360
Owned Owned
Unknown

HOLD

A relatively stable name. Sold off a lot, primarily related to interest rate concerns as well as some of the grocery store challenges. Thinks it offers pretty good returns here. 6.6% yield.

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A relatively stable name. Sold off a lot, primarily related to interest rate concerns as well as some of the grocery store challenges. Thinks it offers pretty good returns here. 6.6% yield.

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Andy Nasr

VP & Inves, Sentry Investments...

Price Price
$13.560
Owned Owned
Unknown

BUY

He likes that their portfolio has a lot of development potential, especially in the Safeway portfolio that they purchased. The market however has been very harsh on this because of their relation with the Empire group and the grocery debacle. He doesn’t think the grocery is going to fail. This means you are buying a company with great real estate solid locations with development opportunities. The rest of the legacy portfolio is solid cash producing assets, often the only grocery store in town. You are getting this at a very steep discount.

property mngmnt/investment
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He likes that their portfolio has a lot of development potential, especially in the Safeway portfolio that they purchased. The market however has been very harsh on this because of their relation with the Empire group and the grocery debacle. He doesn’t think the grocery is going to fail. This means you are buying a company with great real estate solid locations with development opportunities. The rest of the legacy portfolio is solid cash producing assets, often the only grocery store in town. You are getting this at a very steep discount.

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0 comments
Derek Warren

Asst Vice , Lincluden Investment...

Price Price
$13.350
Owned Owned
Yes

COMMENT

OK in a TFSA? Yes, that is fine. He really likes this one. The biggest risk is the Sobeys family, which has been an underperforming grocer. That doesn’t affect this REIT unless something major goes wrong. The discount it has been trading at, relevant to its peers is too wide, and there is still a chance for a re-rating of the stock. However, he thinks that will have to wait until there is a little bit of stability in Sobeys.

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OK in a TFSA? Yes, that is fine. He really likes this one. The biggest risk is the Sobeys family, which has been an underperforming grocer. That doesn’t affect this REIT unless something major goes wrong. The discount it has been trading at, relevant to its peers is too wide, and there is still a chance for a re-rating of the stock. However, he thinks that will have to wait until there is a little bit of stability in Sobeys.

property mngmnt/investment
0 0 0 0 0
0 comments
Derek Warren

Asst Vice , Lincluden Investment...

Price Price
$15.180
Owned Owned
Unknown

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