173

Tricon Capital Group (TCN-T)

ON STOCKCHASE SINCE Feb 2011

REAL ESTATE

Tricon Capital Group
TCN-T

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Signal	Opinion	Expert
DON'T BUY	Tricon Capital Group(TCN-T) March 13, 2019 He follows it closely. They made a lot of money from distress housing in the States after 2008. They pay a reasonable dividend. But TCN has gone nowhere, because US housing hasn't gone anywhere either. People are still burnt from the Recession. REAL ESTATE 0 0 0 0 0 0 comments	He follows it closely. They made a lot of money from distress housing in the States after 2008. They pay a reasonable dividend. But TCN has gone nowhere, because US housing hasn't gone anywhere either. People are still burnt from the Recession. REAL ESTATE 0 0 0 0 0 0 comments Douglas Kee Chief Inve, Leon Frazer & Associ... Price $11.440 Owned No

TOP PICK	Tricon Capital Group(TCN-T) March 1, 2019 This is single family home rentals in the US. They have 17,000 of these. This is a well oiled machine delivering asset value. Their earnings are messy partly due to appreciation of properties in the US. A great way to participate in real estate. Yield = 2.51% (Analysts’ price target is $13.69) REAL ESTATE 0 0 0 0 0 0 comments	This is single family home rentals in the US. They have 17,000 of these. This is a well oiled machine delivering asset value. Their earnings are messy partly due to appreciation of properties in the US. A great way to participate in real estate. Yield = 2.51% (Analysts’ price target is $13.69) REAL ESTATE 0 0 0 0 0 0 comments Lyle Stein Sr. Portfo, Vestcap Investment M... Price $11.120 Owned Yes
HOLD	Tricon Capital Group(TCN-T) February 20, 2019 A US real estate management company. They have concentrated on residential US assets. It is not very well known. He likes the potential and thinks it is quite viable. REAL ESTATE 0 0 0 0 0 0 comments	A US real estate management company. They have concentrated on residential US assets. It is not very well known. He likes the potential and thinks it is quite viable. REAL ESTATE 0 0 0 0 0 0 comments Peter Hodson CEO & Head, 5i Research Inc.... Price $10.730 Owned Unknown
HOLD	Tricon Capital Group(TCN-T) January 23, 2019 His analyst met with them yesterday and it made him feel very bullish. Operationally they have been very strong. They added to their holding a few weeks ago. He thinks it could get back to $12 soon. The multiples are improving the value in his eyes and thinks the market will reward them. Rental rates have been increasing in the US -- especially in the sunbelt. REAL ESTATE 0 0 0 0 0 0 comments	His analyst met with them yesterday and it made him feel very bullish. Operationally they have been very strong. They added to their holding a few weeks ago. He thinks it could get back to $12 soon. The multiples are improving the value in his eyes and thinks the market will reward them. Rental rates have been increasing in the US -- especially in the sunbelt. REAL ESTATE 0 0 0 0 0 0 comments Peter Imhof Vice Presi, AGF Investments Inc... Price $10.070 Owned Yes
STRONG BUY	Tricon Capital Group(TCN-T) December 21, 2018 This is a great entry point. A play on the US single-family real estate market. They earn profits on their own property and management fees on the properties they manage. It trades at under 10 times earnings and pays a US dollar dividend. REAL ESTATE 0 0 0 0 0 0 comments	This is a great entry point. A play on the US single-family real estate market. They earn profits on their own property and management fees on the properties they manage. It trades at under 10 times earnings and pays a US dollar dividend. REAL ESTATE 0 0 0 0 0 0 comments Don Lato President, Padlock Investment M... Price $9.580 Owned Unknown
TOP PICK	Tricon Capital Group(TCN-T) December 5, 2018 They offer technology services into real estate management. Trades at a big discount to NAV, which he feels will also grow strongly going forward. A slowdown in real estate building is a good sign that more people are considering renting. Yield 3%. (Analysts’ price target is $13.86) REAL ESTATE 0 0 0 0 0 0 comments	They offer technology services into real estate management. Trades at a big discount to NAV, which he feels will also grow strongly going forward. A slowdown in real estate building is a good sign that more people are considering renting. Yield 3%. (Analysts’ price target is $13.86) REAL ESTATE 0 0 0 0 0 0 comments Joshua Varghese Portfolio , Signature Global Ass... Price $10.170 Owned Yes
HOLD	Tricon Capital Group(TCN-T) November 28, 2018 He sold this about 2 years ago. As the US housing market recovered this had done well. Now that US housing is slowing and US interest rates may be near 5-6%, he thinks this could further impact demand. He likes the yield and thinks it would continue to be a hold. (Analysts’ price target is $13.86) REAL ESTATE 0 0 0 0 0 0 comments	He sold this about 2 years ago. As the US housing market recovered this had done well. Now that US housing is slowing and US interest rates may be near 5-6%, he thinks this could further impact demand. He likes the yield and thinks it would continue to be a hold. (Analysts’ price target is $13.86) REAL ESTATE 0 0 0 0 0 0 comments Bryden Teich Portfolio , Avenue Investment Ma... Price $10.330 Owned No
PAST TOP PICK	Tricon Capital Group(TCN-T) September 10, 2018 (A Top Pick Oct 27/17, Up 6%) It is an excellent company, getting into US single family rental. The long term outlook is good but definitely interest rates impacted calculating the net asset value. REAL ESTATE 0 0 0 0 0 0 comments	(A Top Pick Oct 27/17, Up 6%) It is an excellent company, getting into US single family rental. The long term outlook is good but definitely interest rates impacted calculating the net asset value. REAL ESTATE 0 0 0 0 0 0 comments Colin Stewart CEO & Port, JC Clark Investments... Price $11.120 Owned No
COMMENT	Tricon Capital Group(TCN-T) August 17, 2018 They’ve diversified. Underlying dynamics for this asset class are more positive than the homebuilders. But if rates go up, their profitability gets tougher. A low valuation way to play the US housing market, but he feels this is close to turning over. REAL ESTATE 0 0 0 0 0 0 comments	They’ve diversified. Underlying dynamics for this asset class are more positive than the homebuilders. But if rates go up, their profitability gets tougher. A low valuation way to play the US housing market, but he feels this is close to turning over. REAL ESTATE 0 0 0 0 0 0 comments Bryden Teich Portfolio , Avenue Investment Ma... Price $11.780 Owned No
BUY	Tricon Capital Group(TCN-T) August 16, 2018 A frustrating stock in some respects, but run by astute managers. They operate U.S. single-family homes and have used technology in association with their real estate projects. They're a long-term real estate manager that manages single-family homes. There's no catalyst that'll propel it tomorrow, but it's solid long-term. REAL ESTATE 0 0 0 0 0 0 comments	A frustrating stock in some respects, but run by astute managers. They operate U.S. single-family homes and have used technology in association with their real estate projects. They're a long-term real estate manager that manages single-family homes. There's no catalyst that'll propel it tomorrow, but it's solid long-term. REAL ESTATE 0 0 0 0 0 0 comments Joshua Varghese Portfolio , Signature Global Ass... Price $11.760 Owned Unknown
BUY	Tricon Capital Group(TCN-T) August 10, 2018 He has been following this one closely since the IPO at $6. They have evolved the company into a landed home building community, building master community centres, particularly in the sunbelt of the US. They are operating about 17,000 family homes. Recent earnings were positive. The market has not yet really appreciated the true value of this stock and it trades at a 15% discount to its NAV. It has struggled getting through $12, so will be watching to see if it can get to $14 soon. REAL ESTATE 0 0 0 0 0 0 comments	He has been following this one closely since the IPO at $6. They have evolved the company into a landed home building community, building master community centres, particularly in the sunbelt of the US. They are operating about 17,000 family homes. Recent earnings were positive. The market has not yet really appreciated the true value of this stock and it trades at a 15% discount to its NAV. It has struggled getting through $12, so will be watching to see if it can get to $14 soon. REAL ESTATE 0 0 0 0 0 0 comments Mike Archibald Associate , AGF Investments... Price $11.540 Owned Yes
PAST TOP PICK	Tricon Capital Group(TCN-T) June 19, 2018 (A Top Pick May 29/2017, Down 3%) Exited a few months back. Healthy business, but asset purchase 9 months ago, US single family housing portfolio. One risk is that it's valued on a cap rate basis, so rising interest rates will hurt the perceived value of the assets. Well-run business. If it pulled back, they'd consider re-entering it. REAL ESTATE 0 0 0 0 0 0 comments	(A Top Pick May 29/2017, Down 3%) Exited a few months back. Healthy business, but asset purchase 9 months ago, US single family housing portfolio. One risk is that it's valued on a cap rate basis, so rising interest rates will hurt the perceived value of the assets. Well-run business. If it pulled back, they'd consider re-entering it. REAL ESTATE 0 0 0 0 0 0 comments Colin Stewart CEO & Port, JC Clark Investments... Price $10.560 Owned No
HOLD	Tricon Capital Group(TCN-T) June 13, 2018 This stock is starting to recover and has reported a couple of improving quarterly earnings. He owns it, but is a little worried when it did not rally on the recent reports. They have an investor day coming up and hopes they will alleviate investor fears. REAL ESTATE 0 0 0 0 0 0 comments	This stock is starting to recover and has reported a couple of improving quarterly earnings. He owns it, but is a little worried when it did not rally on the recent reports. They have an investor day coming up and hopes they will alleviate investor fears. REAL ESTATE 0 0 0 0 0 0 comments Peter Imhof Vice Presi, AGF Investments Inc... Price $10.870 Owned Yes
TOP PICK	Tricon Capital Group(TCN-T) June 5, 2018 An asset manager in real estate, selling land to home builders. They also offer single-family rentals. They are strong in the U.S. sunbelt, and just made a good acquisition. Strong demographics. (Analysts' price target: $12.95) REAL ESTATE 0 0 0 0 0 0 comments	An asset manager in real estate, selling land to home builders. They also offer single-family rentals. They are strong in the U.S. sunbelt, and just made a good acquisition. Strong demographics. (Analysts' price target: $12.95) REAL ESTATE 0 0 0 0 0 0 comments William Chin Portfolio , Caldwell Investment ... Price $10.800 Owned Yes
SPECULATIVE BUY	Tricon Capital Group(TCN-T) May 15, 2018 This trades very cheap but he is concerned about interest rates. He likes the stock at this price but would hedge it by shorting similar companies that are less cheap. REAL ESTATE 0 0 0 0 0 0 comments	This trades very cheap but he is concerned about interest rates. He likes the stock at this price but would hedge it by shorting similar companies that are less cheap. REAL ESTATE 0 0 0 0 0 0 comments James Hodgins Chief Inve, Curvature Hedge Stra... Price $10.100 Owned No

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