BTB Real Estate Investment Trust

BTB.UN-T

Analysis and Opinions about BTB.UN-T

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
November 17, 2010
Quebec-focused. There are better quality names out there. You can get better returns.
Show full opinionHide full opinion
Quebec-focused. There are better quality names out there. You can get better returns.
SELL
SELL
November 5, 2010
Entrepreneurs had some real estate skills and decided to acquire some assets and have a public vehicle. Has been challenged since inception. Small cap. He is cautious of this name.
Show full opinionHide full opinion
Entrepreneurs had some real estate skills and decided to acquire some assets and have a public vehicle. Has been challenged since inception. Small cap. He is cautious of this name.
TOP PICK
TOP PICK
November 1, 2010
Properties in Quebec. Messed up in ’08 by cutting distributions twice. Were frozen out of the ’08 credit crisis. They are below 100% now. Thrown out like the baby with the bath water. It has to get funding to grow. The story has been disregarded, but now you have to take a fresh look at it. Trades at a discount. Slowly but surely it will recover.
Show full opinionHide full opinion
Properties in Quebec. Messed up in ’08 by cutting distributions twice. Were frozen out of the ’08 credit crisis. They are below 100% now. Thrown out like the baby with the bath water. It has to get funding to grow. The story has been disregarded, but now you have to take a fresh look at it. Trades at a discount. Slowly but surely it will recover.
BUY
BUY
June 12, 2008
Had a distribution cut, which hit the stock price. Good management. Assets are office, retail and industrial generally in Quebec City and secondary markets in and around Quebec. Payout ratio was too high. Pretty compelling yield now.
Show full opinionHide full opinion
Had a distribution cut, which hit the stock price. Good management. Assets are office, retail and industrial generally in Quebec City and secondary markets in and around Quebec. Payout ratio was too high. Pretty compelling yield now.
HOLD
HOLD
June 2, 2008
Retail market in small town Quebec. Started with a 13% yield but it became apparent that they weren’t going to make their distribution. Have brought it down enough, but they still have deals to do and he doesn’t know if they will be able to raise their money. Basically likes them.
Show full opinionHide full opinion
Retail market in small town Quebec. Started with a 13% yield but it became apparent that they weren’t going to make their distribution. Have brought it down enough, but they still have deals to do and he doesn’t know if they will be able to raise their money. Basically likes them.
DON'T BUY
DON'T BUY
April 28, 2008
Market cap is so small it’s very tough for any institutional investor to be interested in it. Properties are primarily in Montreal and Quebec and the economy has slowed.
Show full opinionHide full opinion
Market cap is so small it’s very tough for any institutional investor to be interested in it. Properties are primarily in Montreal and Quebec and the economy has slowed.
HOLD
HOLD
March 24, 2008
A small cap commercial diversified. Focused primarily on Quebec. Over distributing. Cheap at these levels.
Show full opinionHide full opinion
A small cap commercial diversified. Focused primarily on Quebec. Over distributing. Cheap at these levels.
SPECULATIVE BUY
SPECULATIVE BUY
February 1, 2008
Diversified commercial real estate company and in the secondary market in Quebec. Management has a lot of contacts within the Quebec marketplace. Buying acquisitions on an accretive basis, which will help close the gap on what they are distributing with what they are earning.
Show full opinionHide full opinion
Diversified commercial real estate company and in the secondary market in Quebec. Management has a lot of contacts within the Quebec marketplace. Buying acquisitions on an accretive basis, which will help close the gap on what they are distributing with what they are earning.
PAST TOP PICK
PAST TOP PICK
January 23, 2008
(A Top Pick Feb 5/07. Down 10.1% including distributions.) REITs have suffered, which is a surprise in Canada. This is a small cap version of RioCan (REI.UN-T). Strip shopping malls have gone down and yet Canadian economy has stayed strong. Yield of 13%/14% is quite compelling. Still a Buy.
Show full opinionHide full opinion
(A Top Pick Feb 5/07. Down 10.1% including distributions.) REITs have suffered, which is a surprise in Canada. This is a small cap version of RioCan (REI.UN-T). Strip shopping malls have gone down and yet Canadian economy has stayed strong. Yield of 13%/14% is quite compelling. Still a Buy.
HOLD
HOLD
January 14, 2008
B quality real estate in secondary markets throughout Quebec. Toured their facilities and was pleasantly surprised with the quality. Very impressed with management. Trading around NAV.
Show full opinionHide full opinion
B quality real estate in secondary markets throughout Quebec. Toured their facilities and was pleasantly surprised with the quality. Very impressed with management. Trading around NAV.
BUY
BUY
December 7, 2007
Commercial diversified with a focus on Quebec city, the rest of Quebec and a little bit of Ontario. Management has been very impressive. Don't have it as a core name.
Show full opinionHide full opinion
Commercial diversified with a focus on Quebec city, the rest of Quebec and a little bit of Ontario. Management has been very impressive. Don't have it as a core name.
HOLD
HOLD
October 3, 2007
Doesn't really like it, but does like and owns their convertibles.
Show full opinionHide full opinion
Doesn't really like it, but does like and owns their convertibles.
PARTIAL BUY
PARTIAL BUY
July 23, 2007
Fairly new, so when they start out they have to have a big pay out and heavy debt. If the wrong wind comes along, this is the risk you have. They seemed to have done what they said they would.
Show full opinionHide full opinion
Fairly new, so when they start out they have to have a big pay out and heavy debt. If the wrong wind comes along, this is the risk you have. They seemed to have done what they said they would.
HOLD
HOLD
July 19, 2007
Focused in Quebec and getting shopping malls, outlet malls outside of Montreal. Small cap REITs have to grow into their expenses, meaning they had to constantly acquire to grow. Will probably hang here for another year or so. If they succeed there should be some price appreciation.
Show full opinionHide full opinion
Focused in Quebec and getting shopping malls, outlet malls outside of Montreal. Small cap REITs have to grow into their expenses, meaning they had to constantly acquire to grow. Will probably hang here for another year or so. If they succeed there should be some price appreciation.
COMMENT
COMMENT
April 11, 2007
Montreal-based and very small. Have used up all their capital. Getting quite high yields by going to good communities outside of Montreal. Expect they will want to come to the market again before long. Would like to see them lower their debt.
Show full opinionHide full opinion
Montreal-based and very small. Have used up all their capital. Getting quite high yields by going to good communities outside of Montreal. Expect they will want to come to the market again before long. Would like to see them lower their debt.
Showing 61 to 75 of 79 entries