Crombie Real Estate Investment Trust

CRR.UN-T

TSE:CRR.UN

13.20
0.46 (3.61%)
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
December 18, 2015

He is underweight, but it is winning him over. The reason is the amount of development they have in Western Canada; pristine, fantastic old Safeway sites, surrounded by apartments and other mixed uses with lots of land. Likes this name.

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He is underweight, but it is winning him over. The reason is the amount of development they have in Western Canada; pristine, fantastic old Safeway sites, surrounded by apartments and other mixed uses with lots of land. Likes this name.

COMMENT
COMMENT
November 18, 2015

This is the real estate arm of Sobey (the Empire Group of Companies), so wherever you find a Sobey’s store it is possible the land and building will be owned by this company. The Safeway deal with Empire extended their reach to the West Coast giving it some growth. This is excellent for income seekers. Has never viewed this as being a terrific growth vehicle. Dividend yield of 6.99%.

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This is the real estate arm of Sobey (the Empire Group of Companies), so wherever you find a Sobey’s store it is possible the land and building will be owned by this company. The Safeway deal with Empire extended their reach to the West Coast giving it some growth. This is excellent for income seekers. Has never viewed this as being a terrific growth vehicle. Dividend yield of 6.99%.

WEAK BUY
WEAK BUY
November 12, 2015

They had an interesting year. After Safeway, a lot of properties dropped to this REIT. There are a lot of high quality opportunities. He is warming up to this story.

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They had an interesting year. After Safeway, a lot of properties dropped to this REIT. There are a lot of high quality opportunities. He is warming up to this story.

BUY
BUY
October 22, 2015

He still likes the REIT sector. He thinks we will see very gradual interest rate increases and it could be a long time in Canada. They trade in quite a range, but if you are in them for the income you can ignore that for the most part. A REIT portfolio for income is great although it should not be the only thing you do. Pipelines and banks are also good things for long term income and growth.

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He still likes the REIT sector. He thinks we will see very gradual interest rate increases and it could be a long time in Canada. They trade in quite a range, but if you are in them for the income you can ignore that for the most part. A REIT portfolio for income is great although it should not be the only thing you do. Pipelines and banks are also good things for long term income and growth.

BUY WEAKNESS
BUY WEAKNESS
September 11, 2015

As a long-term hold, this is a very solid company. Had an analyst day in August about their Safeway Vancouver properties which is surrounded by condo towers. They need a bigger store, so they were able to close it down, build a bigger store with 2 towers on top of it. The company has identified 14 sorts of opportunities in Calgary and Vancouver. It gives you a nice upside on the growth, and meanwhile you are getting a good solid income. He expects a little bit of a fall back and you may be able to pick it up on weakness.

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As a long-term hold, this is a very solid company. Had an analyst day in August about their Safeway Vancouver properties which is surrounded by condo towers. They need a bigger store, so they were able to close it down, build a bigger store with 2 towers on top of it. The company has identified 14 sorts of opportunities in Calgary and Vancouver. It gives you a nice upside on the growth, and meanwhile you are getting a good solid income. He expects a little bit of a fall back and you may be able to pick it up on weakness.

HOLD
HOLD
July 27, 2015

He has been watching it. This earnings call they will be disclosing more about their development plans. The properties could have so much more built onto them. Definitely hold on to those shares.

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He has been watching it. This earnings call they will be disclosing more about their development plans. The properties could have so much more built onto them. Definitely hold on to those shares.

BUY
BUY
July 2, 2015

Sobeys Family/Empire Group. Many shopping plazas have Sobeys as an anchor tenant. He always liked them as a yield investment for 7.1%. 5 year Canada bonds are at 0.84%. A very good option for income.

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Sobeys Family/Empire Group. Many shopping plazas have Sobeys as an anchor tenant. He always liked them as a yield investment for 7.1%. 5 year Canada bonds are at 0.84%. A very good option for income.

WEAK BUY
WEAK BUY
June 23, 2015

The Sobeys family own 40% of this. It is perceived as very much an eastern play. But if you go into a Safeway property out west you are most likely on one of their properties. There are very interesting opportunities for an improvement in land use. The market has not been kind, but it is a waiting game. This is a very attractive entry point.

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The Sobeys family own 40% of this. It is perceived as very much an eastern play. But if you go into a Safeway property out west you are most likely on one of their properties. There are very interesting opportunities for an improvement in land use. The market has not been kind, but it is a waiting game. This is a very attractive entry point.

HOLD
HOLD
June 15, 2015

This was spun off by Empire (EMP.A-T), and it owns a majority of Sobey’s strip mall plazas. It used to be Atlantic Canada only, but continues to get more exposure across Canada. Has owned this for a long time. You own these to get the yield as a substitute for income.

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This was spun off by Empire (EMP.A-T), and it owns a majority of Sobey’s strip mall plazas. It used to be Atlantic Canada only, but continues to get more exposure across Canada. Has owned this for a long time. You own these to get the yield as a substitute for income.

HOLD
HOLD
May 21, 2015

Not a core holding. You get a good dividend, great management team and the properties are fantastic. You should see the unit price move up since it is trading at a discount.

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Not a core holding. You get a good dividend, great management team and the properties are fantastic. You should see the unit price move up since it is trading at a discount.

COMMENT
COMMENT
May 20, 2015

This is very, very stable and defensive in nature. Most of the stores are grocery defensive assets. The sector will get hurt if interest rates go up, but this REIT can handle it because of the very solid, stable assets. 7% yield.

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This is very, very stable and defensive in nature. Most of the stores are grocery defensive assets. The sector will get hurt if interest rates go up, but this REIT can handle it because of the very solid, stable assets. 7% yield.

COMMENT
COMMENT
May 15, 2015

Acquired Safeway, and many of their properties are in very urban areas with a lot of residential real estate built around. They have identified certain opportunities that they will be taking advantage of to build apartments. The stock has been a little bit range bound because people are uncomfortable with a tiny little bit of development risk. However, he thinks it has been too cheap for too long.

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Acquired Safeway, and many of their properties are in very urban areas with a lot of residential real estate built around. They have identified certain opportunities that they will be taking advantage of to build apartments. The stock has been a little bit range bound because people are uncomfortable with a tiny little bit of development risk. However, he thinks it has been too cheap for too long.

TOP PICK
TOP PICK
May 1, 2015

Retail and real estate holding strip mall shopping centres. By square footage, Sobeys is 50%, Shoppers is about 6% and Cineplex is 3rd. They have right of 1st refusal on anything from the family. This has an above average growth profile. Dividend yield of 6.74%.

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Retail and real estate holding strip mall shopping centres. By square footage, Sobeys is 50%, Shoppers is about 6% and Cineplex is 3rd. They have right of 1st refusal on anything from the family. This has an above average growth profile. Dividend yield of 6.74%.

BUY
BUY
April 22, 2015

Looking very inexpensive. Hasn’t really seen the growth potential coming out. At this price and with this yield, this is a great long-term Hold.

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Looking very inexpensive. Hasn’t really seen the growth potential coming out. At this price and with this yield, this is a great long-term Hold.

COMMENT
COMMENT
March 31, 2015

Fantastic assets. They are all mostly anchored in very defensive tenants. Consistency is fantastic. Gives a very good yield. In this late stage of the cycle, you probably want to go defensive. Only trading at around 15X AFFO. Not cheap, but not expensive.

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Fantastic assets. They are all mostly anchored in very defensive tenants. Consistency is fantastic. Gives a very good yield. In this late stage of the cycle, you probably want to go defensive. Only trading at around 15X AFFO. Not cheap, but not expensive.

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