Crombie Real Estate Investment Trust

CRR.UN-T

TSE:CRR.UN

15.97
0.03 (0.19%)
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.
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Analysis and Opinions about CRR.UN-T

Signal
Opinion
Expert
COMMENT
COMMENT
February 3, 2017

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.

Derek Warren
Price
$13.500
Owned
No
HOLD
HOLD
December 15, 2016

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.

Andy Nasr
Price
$13.360
Owned
Unknown
HOLD
HOLD
November 23, 2016

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.

Andy Nasr
Price
$13.560
Owned
Unknown
BUY
BUY
November 17, 2016

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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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.

Derek Warren
Price
$13.350
Owned
Yes
COMMENT
COMMENT
September 2, 2016

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.

Derek Warren
Price
$15.180
Owned
Unknown
DON'T BUY
DON'T BUY
July 28, 2016

(Market Call Minute) Decent for Canadian investors. It had a good run. He prefers some Western Canadian REITs that represent deeper value.

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(Market Call Minute) Decent for Canadian investors. It had a good run. He prefers some Western Canadian REITs that represent deeper value.

Andy Nasr
Price
$15.530
Owned
Unknown
TOP PICK
TOP PICK
July 8, 2016

Empire, a tenant of this company, is having trouble with Sobey’s with disappointing results this week and a management shakeup. He likes opportunities like this. Already trading at a discount to other retail REITs, 15X versus 20X for others. Their problems do not change the location of the buildings, and a well located property that provides grocery stores, will always have strong value. If this negative news puts pressure on this company, it is one that should be bought, because it has good management which will be able to manage through it. Dividend yield of 5.74%.

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Empire, a tenant of this company, is having trouble with Sobey’s with disappointing results this week and a management shakeup. He likes opportunities like this. Already trading at a discount to other retail REITs, 15X versus 20X for others. Their problems do not change the location of the buildings, and a well located property that provides grocery stores, will always have strong value. If this negative news puts pressure on this company, it is one that should be bought, because it has good management which will be able to manage through it. Dividend yield of 5.74%.

Derek Warren
Price
$15.530
Owned
Yes
COMMENT
COMMENT
July 5, 2016

This has been a really solid performer. He is more focused on the apartment sector, a little bit more into office space, and away from retail. The chart emphasizes the stability which is the one aspect of this company that is quite attractive. 6% dividend yield. If you own this, you should do fine through the end of the year.

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This has been a really solid performer. He is more focused on the apartment sector, a little bit more into office space, and away from retail. The chart emphasizes the stability which is the one aspect of this company that is quite attractive. 6% dividend yield. If you own this, you should do fine through the end of the year.

Lyle Stein
Price
$15.330
Owned
No
BUY
BUY
June 30, 2016

(Market Call Minute) Management has done a good job. It ranks well.

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(Market Call Minute) Management has done a good job. It ranks well.

COMMENT
COMMENT
June 21, 2016

Sell Crombie (CRR.UN-T) and buy Aecon (ARE-T)? A well-managed business, but REITs have had a long time to be able to move higher and higher in terms of valuations. Probably not a bad time to be making a switch, but be careful of moving to Aecon because it has also moved considerably.

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Sell Crombie (CRR.UN-T) and buy Aecon (ARE-T)? A well-managed business, but REITs have had a long time to be able to move higher and higher in terms of valuations. Probably not a bad time to be making a switch, but be careful of moving to Aecon because it has also moved considerably.

Mohsin Bashir
Price
$15.200
Owned
Unknown
COMMENT
COMMENT
May 20, 2016

Artis REIT (AX.UN-T) or Crombie REIT (CRR.UN-T)? Likes this one as a good place to start adding, which he is doing right now. He likes the food side and their attachment to Sobey’s. He has just raised the target. A very steady, safe, boring business that generates a lot of cash flows.

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Artis REIT (AX.UN-T) or Crombie REIT (CRR.UN-T)? Likes this one as a good place to start adding, which he is doing right now. He likes the food side and their attachment to Sobey’s. He has just raised the target. A very steady, safe, boring business that generates a lot of cash flows.

Jaime Carrasco
Price
$14.720
Owned
Yes
TOP PICK
TOP PICK
May 6, 2016

This is typically Sobey’s anchored, Eastern Canadian. Now with the Safeway transaction, they’re also in Western Canada and have said they are going to develop and maintain this. Their last quarter was excellent. Dividend yield of 6.31%.

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This is typically Sobey’s anchored, Eastern Canadian. Now with the Safeway transaction, they’re also in Western Canada and have said they are going to develop and maintain this. Their last quarter was excellent. Dividend yield of 6.31%.

Derek Warren
Price
$14.350
Owned
Yes
PAST TOP PICK
PAST TOP PICK
April 28, 2016

(A Top Pick May 1/15. Up 12.18%.) This is the REIT that owns the Sobey’s family real estate. You get about a 6% yield. Under $14 would be a better entry point.

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(A Top Pick May 1/15. Up 12.18%.) This is the REIT that owns the Sobey’s family real estate. You get about a 6% yield. Under $14 would be a better entry point.

COMMENT
COMMENT
March 15, 2016

Empire is having trouble with Sobey’s, but it is not so much that they are going to close a bunch of stores, etc. This has a good yield, and you have the safety of the Sobey’s family, and they are anchors for a lot of their real estate. Feels it is a bit better growth than average and a bit better dividend. Once this all subsides, he could see this being an above average REIT.

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Empire is having trouble with Sobey’s, but it is not so much that they are going to close a bunch of stores, etc. This has a good yield, and you have the safety of the Sobey’s family, and they are anchors for a lot of their real estate. Feels it is a bit better growth than average and a bit better dividend. Once this all subsides, he could see this being an above average REIT.

PAST TOP PICK
PAST TOP PICK
March 2, 2016

(A Top Pick March 24/15. Up 8.37%.) The real estate holding arm associated with Sobey’s and the Empire group. With the expansion of Safeway to Western Canada, it gives Crombie a whole new platform of growth. In the mean time you are getting a yield of over 6%.

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(A Top Pick March 24/15. Up 8.37%.) The real estate holding arm associated with Sobey’s and the Empire group. With the expansion of Safeway to Western Canada, it gives Crombie a whole new platform of growth. In the mean time you are getting a yield of over 6%.

David Baskin
Price
$13.630
Owned
Yes
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