Cominar Real Estate Inv Tr

CUF.UN-T

TSE:CUF.UN

7.72
0.16 (2.03%)
Cominar is a publicly traded real estate investment trust based in Quebec City, Canada. It was founded in 1965, and trades on the Toronto Stock Exchange under the symbol CUF.UN. Cominar manages a portfolio consisting of 430 office, retail, and industrial properties, totalling 38.4 million square feet.
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Analysis and Opinions about CUF.UN-T

Signal
Opinion
Expert
HOLD
HOLD
January 5, 2016

Quebec will outperform. They have done a great job at creating pharma services. They got hit by Target’s departure. Retailers are trying to create value by lowering their square footage. CUF.UN-T should do alright, however.

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Quebec will outperform. They have done a great job at creating pharma services. They got hit by Target’s departure. Retailers are trying to create value by lowering their square footage. CUF.UN-T should do alright, however.

HOLD
HOLD
December 24, 2015

The biggest concern is that it is highly leveraged form and acquisition binge. It reduced their exposure in Quebec, however. You will get a higher yield. He likes the more diversified REITs, (e.g. HR.UN-T) but would hang on to this one.

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The biggest concern is that it is highly leveraged form and acquisition binge. It reduced their exposure in Quebec, however. You will get a higher yield. He likes the more diversified REITs, (e.g. HR.UN-T) but would hang on to this one.

COMMENT
COMMENT
December 18, 2015

The market is expressing a bit of disappointment in the company’s strategy. There is some concern about the Québec economy, but over the last few years they have been engaging in a large growth boom. Market was concerned that it was growth for growth’s sake, as opposed to quality transactions, such as secondary malls, which are the properties you just don’t want to be in during this cycle. Dividend yield of about 10%. He owns a small piece of this.

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The market is expressing a bit of disappointment in the company’s strategy. There is some concern about the Québec economy, but over the last few years they have been engaging in a large growth boom. Market was concerned that it was growth for growth’s sake, as opposed to quality transactions, such as secondary malls, which are the properties you just don’t want to be in during this cycle. Dividend yield of about 10%. He owns a small piece of this.

COMMENT
COMMENT
December 11, 2015

Switch holdings to Goldcorp (G-T)? Cominar is not a company he would be buying right now because he has concerns with their growth going forward and the geographical location of some of their properties. A switch to precious metals makes sense, but he wouldn’t necessarily buy Goldcorp. Consider Agnico-Eagle (AEM-T) instead, which will have more growth. Goldcorp just has too many assets.

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Switch holdings to Goldcorp (G-T)? Cominar is not a company he would be buying right now because he has concerns with their growth going forward and the geographical location of some of their properties. A switch to precious metals makes sense, but he wouldn’t necessarily buy Goldcorp. Consider Agnico-Eagle (AEM-T) instead, which will have more growth. Goldcorp just has too many assets.

HOLD
HOLD
December 3, 2015

It is primarily in Quebec, Quebec City. They have had some issues with debt which were corrected. A lot of real estate in Canada is trading at a 25% discount. He would not sell down here, but he does not know what is the catalyst to move them higher. It is a slow recovery.

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It is primarily in Quebec, Quebec City. They have had some issues with debt which were corrected. A lot of real estate in Canada is trading at a 25% discount. He would not sell down here, but he does not know what is the catalyst to move them higher. It is a slow recovery.

COMMENT
COMMENT
November 20, 2015

Has been shy to be in the REIT space. Hasn’t had exposure there for the last couple of years. The reality is that it has done fairly well because everyone thought the Bank of Canada was going to raise rates, and interest rate sensitive securities would sell off. When that didn’t happen, the REIT space rallied. You have to look at this in conjunction with what else you own that is interest rate sensitive, because the challenge is that these names sell off well in advance of interest rates actually going up. Share price hasn’t done too much and you are basically here for the yield. Dividend yield of 9.7%.

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Has been shy to be in the REIT space. Hasn’t had exposure there for the last couple of years. The reality is that it has done fairly well because everyone thought the Bank of Canada was going to raise rates, and interest rate sensitive securities would sell off. When that didn’t happen, the REIT space rallied. You have to look at this in conjunction with what else you own that is interest rate sensitive, because the challenge is that these names sell off well in advance of interest rates actually going up. Share price hasn’t done too much and you are basically here for the yield. Dividend yield of 9.7%.

WATCH
WATCH
November 12, 2015

The question is: Is it all done? All the bad news is priced in, people say, but he does not agree. He is there, but underweight.

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The question is: Is it all done? All the bad news is priced in, people say, but he does not agree. He is there, but underweight.

COMMENT
COMMENT
November 9, 2015

Stock vs. Stock. D.UN-T vs. CUF.UN-T. Both distributions are pretty safe. Interest rate rises are negatively affecting these. A lot of investors have a fear regarding Canadian Real Estate.

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Stock vs. Stock. D.UN-T vs. CUF.UN-T. Both distributions are pretty safe. Interest rate rises are negatively affecting these. A lot of investors have a fear regarding Canadian Real Estate.

COMMENT
COMMENT
November 5, 2015

There is no news and this thing has just been drifting down. Thinks it is because they have a higher debt level and there is concerns that we could be heading into a Canadian or global recession. If that is the case, small caps get hit. They have an Ontario and Québec focus, which is probably good not being in Western Canada. Nice distribution that is reasonably safe. Trading at a real discount to its five-year period as long as you are comfortable with the economic cycle, which he is, then you can own this.

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There is no news and this thing has just been drifting down. Thinks it is because they have a higher debt level and there is concerns that we could be heading into a Canadian or global recession. If that is the case, small caps get hit. They have an Ontario and Québec focus, which is probably good not being in Western Canada. Nice distribution that is reasonably safe. Trading at a real discount to its five-year period as long as you are comfortable with the economic cycle, which he is, then you can own this.

HOLD
HOLD
November 3, 2015

Would not be his preferred diversified REIT in Canada. Other names such as Artis (AX.UN-T) or H&R (HR.UN-T), gives you a yield that may be a little lower, but a payout ratio that is a lot lower and a much healthier balance sheet. The big issue with this is that they grew too quickly through acquisitions. However, if you own, you can hang onto it and you will be fine longer-term.

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Would not be his preferred diversified REIT in Canada. Other names such as Artis (AX.UN-T) or H&R (HR.UN-T), gives you a yield that may be a little lower, but a payout ratio that is a lot lower and a much healthier balance sheet. The big issue with this is that they grew too quickly through acquisitions. However, if you own, you can hang onto it and you will be fine longer-term.

DON'T BUY
DON'T BUY
September 11, 2015

A big yield of about 9%, which is covered by earnings. The last quarter had very disappointing numbers out of the Montréal office, disappointing numbers on retail at east. They had 7 target locations, and only have 2 them leased up now. Putting that altogether, retail/office is not very good. On the flipside, industrial was absolutely fantastic growing at about 4.6%. Net occupancy was down. There are better places to put your money.

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A big yield of about 9%, which is covered by earnings. The last quarter had very disappointing numbers out of the Montréal office, disappointing numbers on retail at east. They had 7 target locations, and only have 2 them leased up now. Putting that altogether, retail/office is not very good. On the flipside, industrial was absolutely fantastic growing at about 4.6%. Net occupancy was down. There are better places to put your money.

COMMENT
COMMENT
July 20, 2015

Multi asset properties - industrial and retail. They were light on their numbers for a couple of quarters. The payout should be fine. You will not get much drama from these kinds of assets. He prefers B2B REIT. The dividend is sustainable.

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Multi asset properties - industrial and retail. They were light on their numbers for a couple of quarters. The payout should be fine. You will not get much drama from these kinds of assets. He prefers B2B REIT. The dividend is sustainable.

PAST TOP PICK
PAST TOP PICK
July 14, 2015

(A Top Pick June 5/15. Up 4.25%.) You’ll find that bonds tend to be relatively strong over the summer versus a lot of asset classes. So if you buy something like the REIT sector, don’t expect a lot of upside, but it has a fairly high dividend that doesn’t have a lot of danger. Dividend yield of 8.1%.

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(A Top Pick June 5/15. Up 4.25%.) You’ll find that bonds tend to be relatively strong over the summer versus a lot of asset classes. So if you buy something like the REIT sector, don’t expect a lot of upside, but it has a fairly high dividend that doesn’t have a lot of danger. Dividend yield of 8.1%.

TOP PICK
TOP PICK
June 5, 2015

All the REITs are coming back down to a low point within this big sideways giant trading range. Thinks this is an okay time to own this. Pays something like an 8% yield. A well-run company and have the cash to support the dividend. This is a summer play only.

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All the REITs are coming back down to a low point within this big sideways giant trading range. Thinks this is an okay time to own this. Pays something like an 8% yield. A well-run company and have the cash to support the dividend. This is a summer play only.

COMMENT
COMMENT
May 20, 2015

Focused in Québec. Quite reasonable trading at about 7X AFFO. Thinks the Québec market is outperforming. Have done a good job of executing. The biggest issue is that they have to keep trying to grow, because the last couple of quarters has had a slowdown in the growth profile.

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Focused in Québec. Quite reasonable trading at about 7X AFFO. Thinks the Québec market is outperforming. Have done a good job of executing. The biggest issue is that they have to keep trying to grow, because the last couple of quarters has had a slowdown in the growth profile.

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