TSE:IIP.UN
12.02
0.15
(1.26%)
InterRent REIT
IIP.UN-T
Analysis and Opinions about IIP.UN-T
Signal
Opinion
Expert
HOLD
HOLD
July 9, 2019
Entry into Montreal? The management team is one of the best out there. They buy undervalued properties and get big uplifts. They have perfected in Ottawa and the GTO. Montreal is not a new market to them. Overall the residential market space is well favoured. The tech industry has spawned in Toronto and it is spreading across the country. There is a shortage of good quality housing across the country. The yield just above 3%, but you are really buying this for their growth opportunities.
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Entry into Montreal? The management team is one of the best out there. They buy undervalued properties and get big uplifts. They have perfected in Ottawa and the GTO. Montreal is not a new market to them. Overall the residential market space is well favoured. The tech industry has spawned in Toronto and it is spreading across the country. There is a shortage of good quality housing across the country. The yield just above 3%, but you are really buying this for their growth opportunities.
DON'T BUY
DON'T BUY
May 16, 2019
Rental properties in Ontario. One of the best performing REITs. He kicks himself for not owning it. What he got wrong is that Ontario Government went into rent control he didn't have to deal with that, but they didn't have any hiccup with that at all. They are very good at what they do. It is expensive now.
Show full opinionHide full opinionRental properties in Ontario. One of the best performing REITs. He kicks himself for not owning it. What he got wrong is that Ontario Government went into rent control he didn't have to deal with that, but they didn't have any hiccup with that at all. They are very good at what they do. It is expensive now.
PAST TOP PICK
PAST TOP PICK
March 27, 2019
(A Top Pick Oct 01/18, Up 25%) It's apartments in Toronto, Ottawa and Montreal. They've done an excellent job buying properities and refurbishing them. Margins are way up. They bought some apartments in Montreal recently. Pays only a 2% yield, but they consistently raise it.
Show full opinionHide full opinion(A Top Pick Oct 01/18, Up 25%) It's apartments in Toronto, Ottawa and Montreal. They've done an excellent job buying properities and refurbishing them. Margins are way up. They bought some apartments in Montreal recently. Pays only a 2% yield, but they consistently raise it.
BUY
BUY
January 17, 2019
Apartments in Southern Ontario and Montreal. They had a good 2018. The fundamentals for apartments are quite good. There is a lot of immigration into Southern Ontario. 67% payout ratio. Expect dividend increases in coming years. They will not do as well in 2019 as 2018.
Show full opinionHide full opinionApartments in Southern Ontario and Montreal. They had a good 2018. The fundamentals for apartments are quite good. There is a lot of immigration into Southern Ontario. 67% payout ratio. Expect dividend increases in coming years. They will not do as well in 2019 as 2018.
TOP PICK
TOP PICK
October 1, 2018
Apartment in Toronto, Ottawa and Montreal. It's not exposed to tariffs. Management has done a good job and their chart looks good. They internalized management which will boost earnings. They continue to pick up rental units outside the urban core in the GTA. It helps that few rentals are being built. Stock price has risen a lot, but this is a good long-term play. (2.3% dividend, Analysts' price target: $12.10)
Apartment in Toronto, Ottawa and Montreal. It's not exposed to tariffs. Management has done a good job and their chart looks good. They internalized management which will boost earnings. They continue to pick up rental units outside the urban core in the GTA. It helps that few rentals are being built. Stock price has risen a lot, but this is a good long-term play. (2.3% dividend, Analysts' price target: $12.10)
WAIT
WAIT
February 3, 2017
He likes management. Their ability to increase distributions will be there as their more aggressive development plan starts kicking in. They have a number of large-scale developments, which have taken a bit longer, but the dividend will increase over time. More importantly is the amount of growth you can get in earnings when you are able to buy something broken and fix it. You are paying for broken, but you are getting fixed in the end. Returns are very strong. Thinks this will be issuing equity sometime in 2017, so you may want to wait for the equity deal. Dividend yield of 3.1%.
He likes management. Their ability to increase distributions will be there as their more aggressive development plan starts kicking in. They have a number of large-scale developments, which have taken a bit longer, but the dividend will increase over time. More importantly is the amount of growth you can get in earnings when you are able to buy something broken and fix it. You are paying for broken, but you are getting fixed in the end. Returns are very strong. Thinks this will be issuing equity sometime in 2017, so you may want to wait for the equity deal. Dividend yield of 3.1%.
COMMENT
COMMENT
January 31, 2017
Immigration significantly contributed to population growth in Canada. In the last year, it has probably accounted for about three quarters of it. There is a benefit to owning apartment REITs if you think the cost of housing is relatively high, and you have an influx of immigrants. This REIT has a fantastic management team that tends to be more focused on “value add”. They will buy a property that is not necessarily maximizing its income possibility. They will gussy it up, increase rents, which will drive a significant increase in the share price and the value proposition. He likes this very much.
Immigration significantly contributed to population growth in Canada. In the last year, it has probably accounted for about three quarters of it. There is a benefit to owning apartment REITs if you think the cost of housing is relatively high, and you have an influx of immigrants. This REIT has a fantastic management team that tends to be more focused on “value add”. They will buy a property that is not necessarily maximizing its income possibility. They will gussy it up, increase rents, which will drive a significant increase in the share price and the value proposition. He likes this very much.
HOLD
HOLD
December 22, 2016
This is a well-run company, but isn’t particularly cheap among the smaller cap REITs.
This is a well-run company, but isn’t particularly cheap among the smaller cap REITs.
PAST TOP PICK
PAST TOP PICK
March 30, 2016
(A Top Pick March 19/15. Up 19.04%.) An apartment REIT based in Eastern Canada. Most properties are in Ontario where rents are regulated, but they tend to focus more on “value add”, where they buy a property that is not really achieving its full potential, put a little bit of money into it, and try to ramp up the occupancy, which has certainly worked out well for them.
(A Top Pick March 19/15. Up 19.04%.) An apartment REIT based in Eastern Canada. Most properties are in Ontario where rents are regulated, but they tend to focus more on “value add”, where they buy a property that is not really achieving its full potential, put a little bit of money into it, and try to ramp up the occupancy, which has certainly worked out well for them.
PAST TOP PICK
PAST TOP PICK
February 9, 2016
(A Top Pick March 19/15. Up 8.46%.) Has exposure to Eastern Canada, so low income Housing. No exposure to Western Canada, strong balance sheet and good management has really helped. Dividend yield of 3.5%.
(A Top Pick March 19/15. Up 8.46%.) Has exposure to Eastern Canada, so low income Housing. No exposure to Western Canada, strong balance sheet and good management has really helped. Dividend yield of 3.5%.
COMMENT
COMMENT
February 3, 2016
He is a big fan of this company. They have a very entrepreneurial style. Dividend payout is very low and very sustainable. Sees more than average growth potential, so continues to like it. Good management.
He is a big fan of this company. They have a very entrepreneurial style. Dividend payout is very low and very sustainable. Sees more than average growth potential, so continues to like it. Good management.
PAST TOP PICK
PAST TOP PICK
November 12, 2015
(Top Pick Nov 13/14, Up 12.48%) Just raised their yield 5%. He believes in their markets, such as Hamilton.
(Top Pick Nov 13/14, Up 12.48%) Just raised their yield 5%. He believes in their markets, such as Hamilton.
TOP PICK
TOP PICK
July 27, 2015
He likes that it is exposure to Ontario, which is a hot market. You are seeing visibility of low cap rates and developments that will come online. This will continue to provide income. The returns will be a little more stabilized than the last few years.
He likes that it is exposure to Ontario, which is a hot market. You are seeing visibility of low cap rates and developments that will come online. This will continue to provide income. The returns will be a little more stabilized than the last few years.
COMMENT
COMMENT
May 15, 2015
Likes this company. Their most recent quarter showed a slight little bit of weakness, and this is mostly because of weather. There might be a bit of an opportunity this year, because this REIT has is some very interesting developments that they have been doing, and another pipeline coming up over the next couple of years of opportunities to significantly grow cash flow, as they have been able to acquire apartments in the Ottawa area.
Likes this company. Their most recent quarter showed a slight little bit of weakness, and this is mostly because of weather. There might be a bit of an opportunity this year, because this REIT has is some very interesting developments that they have been doing, and another pipeline coming up over the next couple of years of opportunities to significantly grow cash flow, as they have been able to acquire apartments in the Ottawa area.
COMMENT
COMMENT
April 22, 2015
You’re not getting the yield on this that you would normally get, but in this case he thinks that is a good thing. The company is retaining more of the cash and redeploying it into the markets that they know so well. Focused in the Ottawa area. They are real creators of value, so he thinks it is a great long-term hold.
You’re not getting the yield on this that you would normally get, but in this case he thinks that is a good thing. The company is retaining more of the cash and redeploying it into the markets that they know so well. Focused in the Ottawa area. They are real creators of value, so he thinks it is a great long-term hold.
