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
TOP PICK
TOP PICK
March 24, 2015

A 6.69% dividend. He doesn’t care if interest rates go up a bit. It is owned by the Sobeys family. They expanded to Western Canada so there is more growth coming to them. The terrific dividend is probably still going to grow in 2015.

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A 6.69% dividend. He doesn’t care if interest rates go up a bit. It is owned by the Sobeys family. They expanded to Western Canada so there is more growth coming to them. The terrific dividend is probably still going to grow in 2015.

COMMENT
COMMENT
March 18, 2015

This is a retail REIT. The majority of their assets are tenanted by Sobies and Safeway. Over the last 3 years, this REIT has diversified from predominantly Atlantic Canada focused, to one that is now across Canada. Thinks the NAV is close to $14 and this screens as attractive. This will give you stable yield, and anywhere from 2%-3% free cash flow growth.

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This is a retail REIT. The majority of their assets are tenanted by Sobies and Safeway. Over the last 3 years, this REIT has diversified from predominantly Atlantic Canada focused, to one that is now across Canada. Thinks the NAV is close to $14 and this screens as attractive. This will give you stable yield, and anywhere from 2%-3% free cash flow growth.

COMMENT
COMMENT
March 3, 2015

A very interesting time for this company. Have not done much since they bought the Safeway portfolio. During that time, similar REITs have done quite well, so he thinks the market has been a little bit harsh on this one, and this is a time to be looking at it.

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A very interesting time for this company. Have not done much since they bought the Safeway portfolio. During that time, similar REITs have done quite well, so he thinks the market has been a little bit harsh on this one, and this is a time to be looking at it.

TOP PICK
TOP PICK
January 21, 2015

Has lagged RioCan (REI.UN-T), he thinks because of liquidity. It has the Safeway acquisition, through its parent Empire Sobeys, which it has to refurbish, and will have above-average growth from them. The shipping contracts in Nova Scotia are finally being signed, and he thinks this company will be a beneficiary there as well. You get a 6.72 % yield in a lower rate environment.

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Has lagged RioCan (REI.UN-T), he thinks because of liquidity. It has the Safeway acquisition, through its parent Empire Sobeys, which it has to refurbish, and will have above-average growth from them. The shipping contracts in Nova Scotia are finally being signed, and he thinks this company will be a beneficiary there as well. You get a 6.72 % yield in a lower rate environment.

COMMENT
COMMENT
January 20, 2015

About half their tenants are Sobie anchored grocery stores. A very conservative story and hasn’t moved that much. Trades at a lower valuation than others. He thinks there is a shot that this improves and goes up, maybe 5%. You are basically getting dividends of around 6%.

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About half their tenants are Sobie anchored grocery stores. A very conservative story and hasn’t moved that much. Trades at a lower valuation than others. He thinks there is a shot that this improves and goes up, maybe 5%. You are basically getting dividends of around 6%.

BUY
BUY
November 26, 2014

Likes this company. He sees it as a $14.75 stock in 12 months. Yield of almost 7%. Yield is becoming more sustainable at around 94% for 2015, versus 107% for the last 5 years. This has a defensive portfolio with grocery stores, yet growing nicely at about 4%, in line with retail peers. Pretty well positioned for future growth.

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Likes this company. He sees it as a $14.75 stock in 12 months. Yield of almost 7%. Yield is becoming more sustainable at around 94% for 2015, versus 107% for the last 5 years. This has a defensive portfolio with grocery stores, yet growing nicely at about 4%, in line with retail peers. Pretty well positioned for future growth.

WEAK BUY
WEAK BUY
October 16, 2014

Sobeys is the largest tenant. Over the last few years they grew outside of their Atlantic Canada focus. They also tried to improve their payout ratio and leverage. He would like it lower, however. But they substantially improved their asset quality and they diversified outside of the Atlantic region. The free cash flow growth still does not screen as well as others.

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Sobeys is the largest tenant. Over the last few years they grew outside of their Atlantic Canada focus. They also tried to improve their payout ratio and leverage. He would like it lower, however. But they substantially improved their asset quality and they diversified outside of the Atlantic region. The free cash flow growth still does not screen as well as others.

PAST TOP PICK
PAST TOP PICK
September 22, 2014

(A Top Pick Oct 31/13. Up 4.03%.) Still likes the name. Particularly likes the Sobey’s/Safeway deal because he thinks it gives them some expansion opportunities in the West.

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(A Top Pick Oct 31/13. Up 4.03%.) Still likes the name. Particularly likes the Sobey’s/Safeway deal because he thinks it gives them some expansion opportunities in the West.

HOLD
HOLD
September 10, 2014

Sobeys real estate. They have been at this for so long and they are good managers. In these late innings of this real estate cycle, they are a great defensive asset. But it will not go anywhere for a long time. Trades 5% less than its NAV.

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Sobeys real estate. They have been at this for so long and they are good managers. In these late innings of this real estate cycle, they are a great defensive asset. But it will not go anywhere for a long time. Trades 5% less than its NAV.

WEAK BUY
WEAK BUY
September 5, 2014

Growth is not why you go to them. There is only so much movement on grocery rent you can do. Safe long term, but there are other places you can go.

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Growth is not why you go to them. There is only so much movement on grocery rent you can do. Safe long term, but there are other places you can go.

BUY
BUY
July 9, 2014

Retail REIT and majority of assets are leased to Wal-Mart. Saw 5% funds from operations growth last quarter.

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Retail REIT and majority of assets are leased to Wal-Mart. Saw 5% funds from operations growth last quarter.

BUY
BUY
July 8, 2014

Great operators, great managers. Their assets out east are very strong and consistent. There is a certain defensiveness to this asset class. This company will probably outperform other REITs.

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Great operators, great managers. Their assets out east are very strong and consistent. There is a certain defensiveness to this asset class. This company will probably outperform other REITs.

BUY
BUY
June 11, 2014

This has a lot of growth and a lot of opportunity to do things that Sobey’s was not doing. Thinks there is above average growth and above average yield for a few years. Between Morguard (MRG.UN-T) this would be his favourite. A little bit undervalued.

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This has a lot of growth and a lot of opportunity to do things that Sobey’s was not doing. Thinks there is above average growth and above average yield for a few years. Between Morguard (MRG.UN-T) this would be his favourite. A little bit undervalued.

BUY
BUY
May 2, 2014

In the large cap REITs he owns RioCan (REI.UN-T) and this one and would prefer this one right now. It has a little higher growth and a higher yield. Yield of 6.6%.

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In the large cap REITs he owns RioCan (REI.UN-T) and this one and would prefer this one right now. It has a little higher growth and a higher yield. Yield of 6.6%.

WEAK BUY
WEAK BUY
April 29, 2014

Have done a very big acquisition recently. It is not viewed as a risky play. A safe hold.

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Have done a very big acquisition recently. It is not viewed as a risky play. A safe hold.

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