Tricon Capital Group (TCN-T) Stock Predictions - Stockchase
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Tricon Capital Group (TCN-T)

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Tricon Capital Group

TCN-T

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Tricon Capital Group (TCN-T) SAVE Mar, 18, 2019, 3:24 pm

11.59 0.07 (0.61%)

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Signal Opinion Expert
DON'T BUY
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.
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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.
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Douglas Kee

Chief Inve, Leon Frazer & Associ...

Price Price
$11.440
Owned Owned
No

TOP PICK
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)
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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)
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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$11.120
Owned 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.
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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.
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Peter Hodson

CEO & Head, 5i Research Inc....

Price Price
$10.730
Owned 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.
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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.
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Peter Imhof

Vice Presi, AGF Investments Inc...

Price Price
$10.070
Owned 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.
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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.
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Don Lato

President, Padlock Investment M...

Price Price
$9.580
Owned 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)
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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)
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Joshua Varghese

Portfolio , Signature Global Ass...

Price Price
$10.170
Owned 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)
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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)
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Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$10.330
Owned 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.

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(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.

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Colin Stewart

CEO & Port, JC Clark Investments...

Price Price
$11.120
Owned 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.

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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.

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Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$11.780
Owned 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.

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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.

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Joshua Varghese

Portfolio , Signature Global Ass...

Price Price
$11.760
Owned 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.  

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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.  

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Mike Archibald

Associate , AGF Investments...

Price Price
$11.540
Owned Owned
Yes

PAST TOP PICK

(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.

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(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.

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Colin Stewart

CEO & Port, JC Clark Investments...

Price Price
$10.560
Owned Owned
No

HOLD

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. 

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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. 

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Peter Imhof

Vice Presi, AGF Investments Inc...

Price Price
$10.870
Owned Owned
Yes

TOP PICK

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)

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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)

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William Chin

Portfolio , Caldwell Investment ...

Price Price
$10.800
Owned Owned
Yes

SPECULATIVE BUY

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.

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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.

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James Hodgins

Chief Inve, Curvature Hedge Stra...

Price Price
$10.100
Owned Owned
No

DON'T BUY

They had own it a couple of years ago. Not currently. They did a good job buying undervalued houses in the southeastern US after the financial crisis. They took profits. He thinks it is too late in the cycle for this name. 

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They had own it a couple of years ago. Not currently. They did a good job buying undervalued houses in the southeastern US after the financial crisis. They took profits. He thinks it is too late in the cycle for this name. 

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Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$10.080
Owned Owned
No

TOP PICK

Three segments: single-family rental homes; buy large plots of land, develop and sell them; develop and rent luxury apartment buildings. They're exposed to strong-growth areas like the Sunbelt states (FLA, TX, CA) which is growing faster than the rest of the U.S. Continues to trade at a discount to its NAV--the market isn't paying attention to their success. (Analysts' price target $13.18)

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Three segments: single-family rental homes; buy large plots of land, develop and sell them; develop and rent luxury apartment buildings. They're exposed to strong-growth areas like the Sunbelt states (FLA, TX, CA) which is growing faster than the rest of the U.S. Continues to trade at a discount to its NAV--the market isn't paying attention to their success. (Analysts' price target $13.18)

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Mario Mainelli,

Portfolio , Caldwell Investment ...

Price Price
$10.020
Owned Owned
Yes

TOP PICK

They have a real estate investment function but he owns it for their single family homes.  It is homes in the southern US and they just refinanced their debt.  They are in the sweet spot.  They are where there is job growth and that is where rents go up.  (Analysts’ target: $13.18).

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They have a real estate investment function but he owns it for their single family homes.  It is homes in the southern US and they just refinanced their debt.  They are in the sweet spot.  They are where there is job growth and that is where rents go up.  (Analysts’ target: $13.18).

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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$10.010
Owned Owned
Yes

WEAK BUY

They have had some strong numbers and he likes the accretive nature of recent acquisitions.  It has a complex story and this may lead into why the multiples are not as good as others. 

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They have had some strong numbers and he likes the accretive nature of recent acquisitions.  It has a complex story and this may lead into why the multiples are not as good as others. 

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Peter Imhof

Vice Presi, AGF Investments Inc...

Price Price
$9.970
Owned Owned
Yes

DON'T BUY

He has a short on this.  Poor momentum, high stock volatility.  It scores one of the worst on price momentum.  There is not a compelling value argument.  He needs to see cash flows come back to the sector.

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He has a short on this.  Poor momentum, high stock volatility.  It scores one of the worst on price momentum.  There is not a compelling value argument.  He needs to see cash flows come back to the sector.

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Jason Mann

CIO & Co-F, Edgehill Patners...

Price Price
$10.180
Owned Owned
Yes

BUY

The main business is buying housing the US and renting them out.  With rentals tight in the US market, it has done very well.  It is looking to expand into building luxury units in big markets like Toronto.  He owns it and would buy more here.  

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The main business is buying housing the US and renting them out.  With rentals tight in the US market, it has done very well.  It is looking to expand into building luxury units in big markets like Toronto.  He owns it and would buy more here.  

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Michael Simpson

Senior Vic, Sentry Investments...

Price Price
$9.790
Owned Owned
Yes

PAST TOP PICK
Tricon Capital Group(TCN-T) 

January 24, 2018

(A Top Pick Jan 17/17. Up 13%.) Still thinks this is underperforming from where it should. Nothing has fundamentally changed. Thinks the upcoming quarter will be very good.

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(A Top Pick Jan 17/17. Up 13%.) Still thinks this is underperforming from where it should. Nothing has fundamentally changed. Thinks the upcoming quarter will be very good.

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Jennifer Radman

VP & Sr. P, Caldwell Investment ...

Price Price
$10.680
Owned Owned
Yes

WATCH
Tricon Capital Group(TCN-T) 

January 15, 2018

The balance sheet is superb.  Book value is $3.40.  They have an ability to grow the company.  It is on his watch list.  If it gets near the book value it could be quite attractive.

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The balance sheet is superb.  Book value is $3.40.  They have an ability to grow the company.  It is on his watch list.  If it gets near the book value it could be quite attractive.

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$10.850
Owned Owned
Unknown

COMMENT
Tricon Capital Group(TCN-T) 

January 12, 2018

Sold this a couple of years ago. Had been looking for a way to get exposure to US housing through a Canadian domiciled company, and this company totally filled that bill. Prefers to own US financials now. The value of US homes is starting to creep up, and a lot of properties are fairly valued now. Feels the easy money has been made.

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Sold this a couple of years ago. Had been looking for a way to get exposure to US housing through a Canadian domiciled company, and this company totally filled that bill. Prefers to own US financials now. The value of US homes is starting to creep up, and a lot of properties are fairly valued now. Feels the easy money has been made.

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Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$10.770
Owned Owned
No

COMMENT
Tricon Capital Group(TCN-T) 

January 5, 2018

Doesn't follow this actively. Ranks 405 in his overall dividend strategy, which has 700 stocks in his database. The company has reasonable sales growth and earnings seem to be revised upwards. 2.3% dividend yield.

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Doesn't follow this actively. Ranks 405 in his overall dividend strategy, which has 700 stocks in his database. The company has reasonable sales growth and earnings seem to be revised upwards. 2.3% dividend yield.

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Robert McWhirte

President, Selective Asset Mana...

Price Price
$11.050
Owned Owned
No

HOLD
Tricon Capital Group(TCN-T) 

November 30, 2017

It is smaller than the typical company he owns.  He follows it and has a lot of respect for the company and the management.  He would not sell it.  They are executing very nicely.  It is working off the sharp move higher from the past.

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It is smaller than the typical company he owns.  He follows it and has a lot of respect for the company and the management.  He would not sell it.  They are executing very nicely.  It is working off the sharp move higher from the past.

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Brian Madden

Senior VP , Goodreid Investment ...

Price Price
$11.280
Owned Owned
No

DON'T BUY
Tricon Capital Group(TCN-T) 

November 29, 2017

Had owned this about 2 years ago. Was looking for something on the TSX that had US exposure that would participate when the US housing market recovered. This one did and he sold his holdings at $10. US fundamentals are fine. They have a lot of assets in Arizona, Florida and in the US south. He had problems with the valuation and as to where it could go further on. Not a fan, but the fundamentals are in their favour. He would rather buy something that was cheap and had some valuation protection. 2.3% yield.

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Had owned this about 2 years ago. Was looking for something on the TSX that had US exposure that would participate when the US housing market recovered. This one did and he sold his holdings at $10. US fundamentals are fine. They have a lot of assets in Arizona, Florida and in the US south. He had problems with the valuation and as to where it could go further on. Not a fan, but the fundamentals are in their favour. He would rather buy something that was cheap and had some valuation protection. 2.3% yield.

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Paul Gardner, C

Partner an, Avenue Investment Ma...

Price Price
$11.250
Owned Owned
No

COMMENT
Tricon Capital Group(TCN-T) 

November 17, 2017

A Canadian company that is operating quite heavily in the US in ownership of residential properties for rental purposes. A nice company. Aggressive management.

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A Canadian company that is operating quite heavily in the US in ownership of residential properties for rental purposes. A nice company. Aggressive management.

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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$11.300
Owned Owned
Unknown

PAST TOP PICK
Tricon Capital Group(TCN-T) 

November 8, 2017

(A Top Pick Jan 17/17. Up 12%.) This has pulled back a little. With the hurricanes, people may be wondering what impact it has had on their portfolio. The nice thing is that they invest in residential living, but on an active portfolio basis. Something like a private equity firm, but focused on real estate. Right now, they are focused on single-family homes in the US Sunbelt. Have a number of initiatives they are working through. She is looking forward to this next quarter.

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(A Top Pick Jan 17/17. Up 12%.) This has pulled back a little. With the hurricanes, people may be wondering what impact it has had on their portfolio. The nice thing is that they invest in residential living, but on an active portfolio basis. Something like a private equity firm, but focused on real estate. Right now, they are focused on single-family homes in the US Sunbelt. Have a number of initiatives they are working through. She is looking forward to this next quarter.

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Jennifer Radman

VP & Sr. P, Caldwell Investment ...

Price Price
$10.810
Owned Owned
Yes

COMMENT
Tricon Capital Group(TCN-T) 

November 8, 2017

This has amassed a huge amount of single-family homes at fairly attractive prices in a lot of cases. A criticism has always been as to what they going to do with all the homes and where will they eventually sell them. Recently they sold a bunch, but he still questions how do they get rid of all them.

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This has amassed a huge amount of single-family homes at fairly attractive prices in a lot of cases. A criticism has always been as to what they going to do with all the homes and where will they eventually sell them. Recently they sold a bunch, but he still questions how do they get rid of all them.

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Bruce Campbell

President , Stone Castle Investm...

Price Price
$10.810
Owned Owned
No

TOP PICK
Tricon Capital Group(TCN-T) 

October 26, 2017

A Canadian company that gives you great exposure to US real estate.  They buy up homes, renovate and rent them out.  The asset price is at least $12 a share.  If we continue to see US real estate price appreciation they will benefit from that.  (Analysts’ target: $13.63).

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A Canadian company that gives you great exposure to US real estate.  They buy up homes, renovate and rent them out.  The asset price is at least $12 a share.  If we continue to see US real estate price appreciation they will benefit from that.  (Analysts’ target: $13.63).

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Colin Stewart

CEO & Port, JC Clark Investments...

Price Price
$10.810
Owned Owned
Yes

TOP PICK
Tricon Capital Group(TCN-T) 

September 26, 2017

A play on the US single family home market. Made an acquisition earlier this year of the Silver Bay portfolio of about 9000 single-family homes, adding to their portfolio of about 8000 homes. This is a back-door way to get US exposure into a Canadian portfolio. Also, the supply of single-family homes in the US has been light. Dividend yield of 2.5%. (Analysts’ price target is $13.63.)

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A play on the US single family home market. Made an acquisition earlier this year of the Silver Bay portfolio of about 9000 single-family homes, adding to their portfolio of about 8000 homes. This is a back-door way to get US exposure into a Canadian portfolio. Also, the supply of single-family homes in the US has been light. Dividend yield of 2.5%. (Analysts’ price target is $13.63.)

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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$10.040
Owned Owned
Yes

COMMENT
Tricon Capital Group(TCN-T) 

August 25, 2017

The concern is the most recent quarter had sales down 41%, but earnings were up 47% so people are scratching their heads.  Next year earnings are expected to grow.  It looks like reasonable earnings growth, but low free cash flow generation.

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The concern is the most recent quarter had sales down 41%, but earnings were up 47% so people are scratching their heads.  Next year earnings are expected to grow.  It looks like reasonable earnings growth, but low free cash flow generation.

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Robert McWhirte

President, Selective Asset Mana...

Price Price
$10.790
Owned Owned
No

BUY
Tricon Capital Group(TCN-T) 

August 23, 2017

He likes the management and what they have done to build the business coming out of the last recession.  The balance sheet is good and it pays a dividend: all the right things.

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He likes the management and what they have done to build the business coming out of the last recession.  The balance sheet is good and it pays a dividend: all the right things.

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Douglas Kee

Chief Inve, Leon Frazer & Associ...

Price Price
$10.760
Owned Owned
No

PAST TOP PICK
Tricon Capital Group(TCN-T) 

August 10, 2017

(A Top Pick Aug 10/16. Up 17.97%.) They really simplified their business over the last year or so, going from 5 operating units down to 3, and focusing on places they can get scale advantages. Their single-family homes, where they focus on the US Sunbelt, is really doing well. The stock came off quite a bit going into the quarter, but some of that is currency related. They have a lot of growth opportunity in front of them. A prudent allocator of capital and trading at a reasonable valuation.

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(A Top Pick Aug 10/16. Up 17.97%.) They really simplified their business over the last year or so, going from 5 operating units down to 3, and focusing on places they can get scale advantages. Their single-family homes, where they focus on the US Sunbelt, is really doing well. The stock came off quite a bit going into the quarter, but some of that is currency related. They have a lot of growth opportunity in front of them. A prudent allocator of capital and trading at a reasonable valuation.

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Jennifer Radman

VP & Sr. P, Caldwell Investment ...

Price Price
$10.900
Owned Owned
Yes

PAST TOP PICK

(A Top Pick Oct 3/16. Up 13.13%.) This did well up to the last 2 months. He looks at this simply for its ownership of US single-family dwellings. In February, they made a much bigger acquisition of another 7000 homes. The stock has come down, and thinks it is because it is being rated as a Canadian REIT, which it isn’t. A really interesting entry point. Dividend yield of 2.5%.

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(A Top Pick Oct 3/16. Up 13.13%.) This did well up to the last 2 months. He looks at this simply for its ownership of US single-family dwellings. In February, they made a much bigger acquisition of another 7000 homes. The stock has come down, and thinks it is because it is being rated as a Canadian REIT, which it isn’t. A really interesting entry point. Dividend yield of 2.5%.

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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$10.460
Owned Owned
Yes

COMMENT

This is in the single-family rental home business, mostly in the US. It has been a very successful investment for anyone who has been Long. Fairly valued, but not incredibly expensive, but is in an increasingly crowded space. Doesn’t think the gains going forward will be as robust as they have been, particularly if you are looking at rising interest rates. This may not be the best time to be in this.

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This is in the single-family rental home business, mostly in the US. It has been a very successful investment for anyone who has been Long. Fairly valued, but not incredibly expensive, but is in an increasingly crowded space. Doesn’t think the gains going forward will be as robust as they have been, particularly if you are looking at rising interest rates. This may not be the best time to be in this.

REAL ESTATE
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Daniel Lloyd

Portfolio , Forge First Asset Ma...

Price Price
$11.290
Owned Owned
Unknown

HOLD

This is a Canadian company, but owns US real estate, gated communities mostly in the Southeast and Southwest US. Good operators. Stock is done relatively well lately. He owns their convertible debentures. This is now moved up to a point where it is probably a Hold.

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This is a Canadian company, but owns US real estate, gated communities mostly in the Southeast and Southwest US. Good operators. Stock is done relatively well lately. He owns their convertible debentures. This is now moved up to a point where it is probably a Hold.

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Bruce Campbell

President, Campbell and Lee Inv...

Price Price
$11.290
Owned Owned
No

TOP PICK

Through acquisitions and development of different businesses, it has become a significant play on US residential real estate. They are real estate developers and investors. Recently made a transformational acquisition of Silver Bay Realty, which significantly expands their single-family rental division, a developing area in the US. Dividend yield of 2.3%. (Analysts’ price target is $14.)

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Through acquisitions and development of different businesses, it has become a significant play on US residential real estate. They are real estate developers and investors. Recently made a transformational acquisition of Silver Bay Realty, which significantly expands their single-family rental division, a developing area in the US. Dividend yield of 2.3%. (Analysts’ price target is $14.)

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Colin Stewart

CEO & Port, JC Clark Investments...

Price Price
$11.180
Owned Owned
Yes

PAST TOP PICK

(Top Pick Jun 21’16, Up 26.65%) It used to be at a 30% discount to NAV.  They captured the US sunbelt rental market. 

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(Top Pick Jun 21’16, Up 26.65%) It used to be at a 30% discount to NAV.  They captured the US sunbelt rental market. 

REAL ESTATE
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Mohsin Bashir

VP Investm, Stone Asset Manageme...

Price Price
$10.820
Owned Owned
Unknown

PAST TOP PICK

(A Top Pick Feb 3/16. Up 38%.) They’ve recently done an interesting transaction where they are taking over a US REIT, Silver Bay Realty, which invests in all aspects of the US housing industry. Silver Bay was a single-family rental, and this gives them scale. He really likes that deal.

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(A Top Pick Feb 3/16. Up 38%.) They’ve recently done an interesting transaction where they are taking over a US REIT, Silver Bay Realty, which invests in all aspects of the US housing industry. Silver Bay was a single-family rental, and this gives them scale. He really likes that deal.

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Derek Warren

Asst Vice , Lincluden Investment...

Price Price
$11.100
Owned Owned
Yes

COMMENT
Tricon Capital Group(TCN-T) 

February 3, 2017

Tricon Capital Group (TCN-T) or American Hotel Income (HOT.UN-T)? He continues to like this, but it is not really an income play, it is a growth play. Focused on the US housing market and he thinks the US economy is in a good place and housing will continue to recover. Thinks this company is just getting started.

REAL ESTATE
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Tricon Capital Group (TCN-T) or American Hotel Income (HOT.UN-T)? He continues to like this, but it is not really an income play, it is a growth play. Focused on the US housing market and he thinks the US economy is in a good place and housing will continue to recover. Thinks this company is just getting started.

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Derek Warren

Asst Vice , Lincluden Investment...

Price Price
$9.960
Owned Owned
Yes

TOP PICK
Tricon Capital Group(TCN-T) 

January 17, 2017

A Canadian company with a lot of exposure to the US.  They have rental, development and individual homes.  She had avoided this space, but there are a lot of avenues across they space for them to grow.  It is a great price compared to their net asset value.  She has owned it for a while and is flat on the position.  They bring in a lot of experts to work with and she thinks that is key.  (Analysts Target:  $12.56).

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A Canadian company with a lot of exposure to the US.  They have rental, development and individual homes.  She had avoided this space, but there are a lot of avenues across they space for them to grow.  It is a great price compared to their net asset value.  She has owned it for a while and is flat on the position.  They bring in a lot of experts to work with and she thinks that is key.  (Analysts Target:  $12.56).

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Jennifer Radman

VP & Sr. P, Caldwell Investment ...

Price Price
$9.730
Owned Owned
Yes

TOP PICK
Tricon Capital Group(TCN-T) 

January 12, 2017

They are a junior version of a BAM.A-T.  They have a hot opportunity in the form of single family properties in the US sun belt.  There are secular growth trail winds in single family rental homes.  (Analysts’ Target: $12.56).

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They are a junior version of a BAM.A-T.  They have a hot opportunity in the form of single family properties in the US sun belt.  There are secular growth trail winds in single family rental homes.  (Analysts’ Target: $12.56).

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Mohsin Bashir

VP Investm, Stone Asset Manageme...

Price Price
$9.840
Owned Owned
Yes

PAST TOP PICK
Tricon Capital Group(TCN-T) 

January 12, 2017

(A Top Pick Jan 6/16. Up 15.37%.) US housing was doing really well and they have one of the biggest US residentials. They own homes and rent them out. Thinks it took a breather when there were fears of a US recession. He expects the stock to continue to rebound.

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(A Top Pick Jan 6/16. Up 15.37%.) US housing was doing really well and they have one of the biggest US residentials. They own homes and rent them out. Thinks it took a breather when there were fears of a US recession. He expects the stock to continue to rebound.

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James Telfser

Partner & , Aventine Management ...

Price Price
$9.840
Owned Owned
No

HOLD
Tricon Capital Group(TCN-T) 

December 30, 2016

Chart shows a series of higher highs and higher lows, but is a little bit iffy on the high side. We are still not in the new high area, and on the verge of pulling back a bit. He would give the chart a 6 out of 10. If you own, continue to hold.

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Chart shows a series of higher highs and higher lows, but is a little bit iffy on the high side. We are still not in the new high area, and on the verge of pulling back a bit. He would give the chart a 6 out of 10. If you own, continue to hold.

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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$9.460
Owned Owned
Unknown

BUY on WEAKNESS
Tricon Capital Group(TCN-T) 

October 31, 2016

Market cap has come up to about $1 Billion.  They did a good job of getting into US residential real estate at the bottom of the market.  Pullbacks are opportunities.  Housing formation is outpacing housing starts in the US. 

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Market cap has come up to about $1 Billion.  They did a good job of getting into US residential real estate at the bottom of the market.  Pullbacks are opportunities.  Housing formation is outpacing housing starts in the US. 

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Brian Madden

Senior VP , Goodreid Investment ...

Price Price
$8.760
Owned Owned
Unknown

COMMENT
Tricon Capital Group(TCN-T) 

October 7, 2016

(Market Call Minute.) The stock was weak in the past couple of days on fears of the hurricane. But he was told that only 10% of their property has exposure. This may be a buying opportunity and he is looking into it.

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(Market Call Minute.) The stock was weak in the past couple of days on fears of the hurricane. But he was told that only 10% of their property has exposure. This may be a buying opportunity and he is looking into it.

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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$9.150
Owned Owned
Unknown

TOP PICK
Tricon Capital Group(TCN-T) 

October 3, 2016

He is increasing his US exposure.  He is looking to buy good hard assets in the US and this does it.  It is a good way to get currency out of Canada.  It has a decent yield and growth.  Management owns a lot of the stock.

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He is increasing his US exposure.  He is looking to buy good hard assets in the US and this does it.  It is a good way to get currency out of Canada.  It has a decent yield and growth.  Management owns a lot of the stock.

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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$9.210
Owned Owned
Yes

BUY
Tricon Capital Group(TCN-T) 

September 27, 2016

He likes this and feels it is a good entry point. Good management.

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He likes this and feels it is a good entry point. Good management.

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Michael Decter

President , Lawrence Decter Inve...

Price Price
$9.250
Owned Owned
Yes

BUY on WEAKNESS
Tricon Capital Group(TCN-T) 

September 20, 2016

(Market Call Minute.) Single family home strategy in the US and trading at a discount to NAV. He would buy more if it got a little cheaper.

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(Market Call Minute.) Single family home strategy in the US and trading at a discount to NAV. He would buy more if it got a little cheaper.

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Andy Nasr

VP & Inves, Sentry Investments...

Price Price
$9.160
Owned Owned
Yes

BUY on WEAKNESS
Tricon Capital Group(TCN-T) 

September 2, 2016

A huge fan. He likes the US housing market at this point. Picking this up in the mid-$9s or lower is a great plan. You get a bit of a yield of about 2.8%, and you get to play the US housing recovery.

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A huge fan. He likes the US housing market at this point. Picking this up in the mid-$9s or lower is a great plan. You get a bit of a yield of about 2.8%, and you get to play the US housing recovery.

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Derek Warren

Asst Vice , Lincluden Investment...

Price Price
$9.680
Owned Owned
Yes

HOLD
Tricon Capital Group(TCN-T) 

August 29, 2016

(Market Call Minute.) A well-managed company. A little more expensive, but exposed to good demographic trends in the US real estate industry.

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(Market Call Minute.) A well-managed company. A little more expensive, but exposed to good demographic trends in the US real estate industry.

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Brian Madden

Senior VP , Goodreid Investment ...

Price Price
$9.750
Owned Owned
Unknown

TOP PICK
Tricon Capital Group(TCN-T) 

August 16, 2016

A theme that he really likes is multifamily US housing. He has done really well on similar companies. These are land and development people but have also got into single family housing in the US. A very interesting company, which he thinks is undervalued. Dividend yield of 2.54%

REAL ESTATE
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A theme that he really likes is multifamily US housing. He has done really well on similar companies. These are land and development people but have also got into single family housing in the US. A very interesting company, which he thinks is undervalued. Dividend yield of 2.54%

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Andrew Pink

Portfolio , LDIC...

Price Price
$10.240
Owned Owned
Yes

BUY
Tricon Capital Group(TCN-T) 

August 15, 2016

Good for a long term investment.  Internal rate of return north of 15%.  They have good growth potential.  Half their assets are their own money and the rest is other people’s.

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Good for a long term investment.  Internal rate of return north of 15%.  They have good growth potential.  Half their assets are their own money and the rest is other people’s.

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Teal Linde

Portfolio , Linde Equity Report...

Price Price
$10.200
Owned Owned
Yes

TOP PICK
Tricon Capital Group(TCN-T) 

August 10, 2016

This does residential real estate, and do it in a number of forms. You have rental apartments, they sell land to homebuilders, and all these businesses you see have a good yield. They also have the ability to grow that. Feels they have been penalized for temporary reasons, so there is a big discount to where the peer group is.

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This does residential real estate, and do it in a number of forms. You have rental apartments, they sell land to homebuilders, and all these businesses you see have a good yield. They also have the ability to grow that. Feels they have been penalized for temporary reasons, so there is a big discount to where the peer group is.

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Jennifer Radman

VP & Sr. P, Caldwell Investment ...

Price Price
$9.450
Owned Owned
Yes

BUY

(Market Call Minute.)

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(Market Call Minute.)

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Veronika Hirsch

Chief Inve, Arrow Capital...

Price Price
$9.730
Owned Owned
Unknown

PAST TOP PICK

(Top Pick Sep 2/15, Down 18.40%) He sold it last November.

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(Top Pick Sep 2/15, Down 18.40%) He sold it last November.

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Brendan Caldwel

President, Caldwell Securities...

Price Price
$9.080
Owned Owned
No

STRONG BUY

He really likes this and has been adding any time it has touched $8.25. A really interesting play on the US housing market, covering the different facets such as homebuilding, mature lifestyle communities, luxury housing, single-family renting. This is a market that has been depressed for some time. It is starting to come up, but the stocks are not reacting yet. Thinks it is priming up for a pop, and the stock could be an easy $10. Dividend yield of 3%.

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He really likes this and has been adding any time it has touched $8.25. A really interesting play on the US housing market, covering the different facets such as homebuilding, mature lifestyle communities, luxury housing, single-family renting. This is a market that has been depressed for some time. It is starting to come up, but the stocks are not reacting yet. Thinks it is priming up for a pop, and the stock could be an easy $10. Dividend yield of 3%.

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Derek Warren

Asst Vice , Lincluden Investment...

Price Price
$8.890
Owned Owned
Yes

COMMENT

Nice dividend and great management team. They were buying a lot of residential real estate property in the US when nobody else wanted it. Feels their block of properties is worth a lot of money. At some point there will be further consolidation in the space, and at some point they could be an acquisition.

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Nice dividend and great management team. They were buying a lot of residential real estate property in the US when nobody else wanted it. Feels their block of properties is worth a lot of money. At some point there will be further consolidation in the space, and at some point they could be an acquisition.

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Jim McGovern

CEO, Arrow Capital Manage...

Price Price
$8.430
Owned Owned
Yes

COMMENT

A well diversified real estate company. Have recently gone into prefab constructed homes in the US. His concern has been the migration they have taken into the different paths through the years. Feels they should now be selling off some of their holdings instead of going off into other areas. They probably have 80%-90% of their assets in the US. Even if the assets did not go up in value, there has been a tremendous currency move, making the assets at least 15%-20% more valuable. Have probably taken on too much at one time.

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A well diversified real estate company. Have recently gone into prefab constructed homes in the US. His concern has been the migration they have taken into the different paths through the years. Feels they should now be selling off some of their holdings instead of going off into other areas. They probably have 80%-90% of their assets in the US. Even if the assets did not go up in value, there has been a tremendous currency move, making the assets at least 15%-20% more valuable. Have probably taken on too much at one time.

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Gerard Ferguson

CEO & Port, Jemekk Capital Manag...

Price Price
$8.180
Owned Owned
No

TOP PICK

Their focus is principally on residential real estate. They have Tricon American Homes which focuses on the Sunbelt in the US. Most people want to own single family rental properties in that particular space. Trades at a significant discount to their NAV of around $13, and he sees room for growth. Dividend yield of 3.03%.

REAL ESTATE
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Their focus is principally on residential real estate. They have Tricon American Homes which focuses on the Sunbelt in the US. Most people want to own single family rental properties in that particular space. Trades at a significant discount to their NAV of around $13, and he sees room for growth. Dividend yield of 3.03%.

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Mohsin Bashir

VP Investm, Stone Asset Manageme...

Price Price
$8.570
Owned Owned
Yes

COMMENT

Looked at this a few years back, but didn’t like the business model or the scalability. They bought some properties in the US and are renting those out. There has been a double whammy in terms of performance in that the value of their portfolio has gone up and rents have gone up as well. He thinks we are in the 4th-5th inning of a recovery in the US housing market, so there is still potential upside. 2.9% dividend yield.

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Looked at this a few years back, but didn’t like the business model or the scalability. They bought some properties in the US and are renting those out. There has been a double whammy in terms of performance in that the value of their portfolio has gone up and rents have gone up as well. He thinks we are in the 4th-5th inning of a recovery in the US housing market, so there is still potential upside. 2.9% dividend yield.

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Jerome Hass

Portfolio , Lightwater Partners...

Price Price
$8.920
Owned Owned
No

BUY

(Market Call Minute.) A really sharp management team and has become a core holding for him. The stock is undervalued and should be $11-$12 over time. A great way to play a recovery in the US housing market.

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(Market Call Minute.) A really sharp management team and has become a core holding for him. The stock is undervalued and should be $11-$12 over time. A great way to play a recovery in the US housing market.

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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$8.640
Owned Owned
Yes

BUY

A very well-run company for many years. Has deeply experienced management. Technically it is at a bit of an inflection point. His short term technicals say it is not a bad entry point, but it has some headroom issues to get through. Not wildly expensive and has been a dividend grower through the years.

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A very well-run company for many years. Has deeply experienced management. Technically it is at a bit of an inflection point. His short term technicals say it is not a bad entry point, but it has some headroom issues to get through. Not wildly expensive and has been a dividend grower through the years.

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Colin Fisher

President , Stableview Asset Man...

Price Price
$8.290
Owned Owned
Unknown

BUY

Has been buying this, especially below $8.50. A Canadian company, but US focused on housing. This is a good time to be investing in the US housing market. Dividend yield of 3.1%.

REAL ESTATE
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Has been buying this, especially below $8.50. A Canadian company, but US focused on housing. This is a good time to be investing in the US housing market. Dividend yield of 3.1%.

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Derek Warren

Asst Vice , Lincluden Investment...

Price Price
$8.300
Owned Owned
Yes

COMMENT

(Market Call Minute.) This has been pretty weak recently and they have US residential exposure, which you think would be good. Great company with good assets and trading very cheaply. It is just a matter of time before it does better.

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(Market Call Minute.) This has been pretty weak recently and they have US residential exposure, which you think would be good. Great company with good assets and trading very cheaply. It is just a matter of time before it does better.

REAL ESTATE
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Peter Hodson

CEO & Head, 5i Research Inc....

Price Price
$8.300
Owned Owned
Unknown

BUY

Has been following this for quite a while. Likes what the business is doing. They are executing really well. Generally speaking, the US housing market is strong and their single family home business is going to continue to grow. Also, getting into some luxury multi-residential. Trading at a pretty significant discount to its NAV. Pays a nice dividend. Good management.

REAL ESTATE
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Has been following this for quite a while. Likes what the business is doing. They are executing really well. Generally speaking, the US housing market is strong and their single family home business is going to continue to grow. Also, getting into some luxury multi-residential. Trading at a pretty significant discount to its NAV. Pays a nice dividend. Good management.

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James Telfser

Partner & , Aventine Management ...

Price Price
$8.590
Owned Owned
Yes

PAST TOP PICK

(A Top Pick July 17/15. Down 25.86%.) Owns property down in the Sunbelt. Sold his holdings in June. Still watching it and still likes the growth prospects.

REAL ESTATE
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(A Top Pick July 17/15. Down 25.86%.) Owns property down in the Sunbelt. Sold his holdings in June. Still watching it and still likes the growth prospects.

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Brendan Caldwel

President, Caldwell Securities...

Price Price
$8.690
Owned Owned
No

BUY

(Market Call Minute.) Favours this for the long-term. It has swooned over the last few months, and thinks this is really good value here. It gives you exposure to the US housing and rental market.

REAL ESTATE
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(Market Call Minute.) Favours this for the long-term. It has swooned over the last few months, and thinks this is really good value here. It gives you exposure to the US housing and rental market.

REAL ESTATE
0 0 0 0 0
0 comments
Allan Meyer

VP & Portf, Wickham Investment C...

Price Price
$8.880
Owned Owned
Yes

WAIT
Tricon Capital Group(TCN-T) 

February 22, 2016

The company has had some change in management.  Once has to assume it is better.  US real estate has not been what we expected it to be over the last several years.  There will be a pause in this one.

REAL ESTATE
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The company has had some change in management.  Once has to assume it is better.  US real estate has not been what we expected it to be over the last several years.  There will be a pause in this one.

REAL ESTATE
0 0 0 0 0
0 comments
Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$8.060
Owned Owned
Unknown

COMMENT
Tricon Capital Group(TCN-T) 

February 5, 2016

A real estate manager with over $2 billion worth of a wide range of properties in the US. Everything from single family homes to some lower cost properties. Has a decent dividend. He likes this company. Has underperformed recently and is not sure if this is just going down with the real estate sector or something to do with the oil prices. Vacancy rate is well under 10% for their properties.

REAL ESTATE
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A real estate manager with over $2 billion worth of a wide range of properties in the US. Everything from single family homes to some lower cost properties. Has a decent dividend. He likes this company. Has underperformed recently and is not sure if this is just going down with the real estate sector or something to do with the oil prices. Vacancy rate is well under 10% for their properties.

REAL ESTATE
0 0 0 0 0
0 comments
Allan Meyer

VP & Portf, Wickham Investment C...

Price Price
$8.310
Owned Owned
Yes

TOP PICK
Tricon Capital Group(TCN-T) 

February 3, 2016

This is his value pick. Basically invests in the housing market in the US, but through many different ways. They have a small home building arm, single family rental, development of luxury apartment buildings, seniors’ communities, etc. Have the ability to go across the US and take advantage of different opportunities. Dividend yield of 2.91%.

REAL ESTATE
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This is his value pick. Basically invests in the housing market in the US, but through many different ways. They have a small home building arm, single family rental, development of luxury apartment buildings, seniors’ communities, etc. Have the ability to go across the US and take advantage of different opportunities. Dividend yield of 2.91%.

REAL ESTATE
0 0 0 0 0
0 comments
Derek Warren

Asst Vice , Lincluden Investment...

Price Price
$8.360
Owned Owned
Yes

BUY
Tricon Capital Group(TCN-T) 

February 2, 2016

Real estate management based out of Toronto. They run closed-end funds for multi-institutional clients. Have started to do some direct real estate projects for shareholders. A good US presence and smart real estate investors. The stock is undervalued and this is a good buying opportunity. There is great upside in the US. Dividend yield of about 2.9%.

REAL ESTATE
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Real estate management based out of Toronto. They run closed-end funds for multi-institutional clients. Have started to do some direct real estate projects for shareholders. A good US presence and smart real estate investors. The stock is undervalued and this is a good buying opportunity. There is great upside in the US. Dividend yield of about 2.9%.

REAL ESTATE
0 0 0 0 0
0 comments
Alex Ruus

Portfolio , Arrow Capital Manage...

Price Price
$8.210
Owned Owned
Unknown

HOLD
Tricon Capital Group(TCN-T) 

January 27, 2016

The stock is off its highs.  They are a well managed company and pick their markets very well.  They are not buying as actively as 4-5 years ago, but the income from those properties should hold the dividend steady for many years.

REAL ESTATE
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0 comments

The stock is off its highs.  They are a well managed company and pick their markets very well.  They are not buying as actively as 4-5 years ago, but the income from those properties should hold the dividend steady for many years.

REAL ESTATE
0 0 0 0 0
0 comments
Don Lato

President, Padlock Investment M...

Price Price
$8.340
Owned Owned
Unknown

COMMENT
Tricon Capital Group(TCN-T) 

January 15, 2016

A very good way for Canadians to play the US residential real estate market. Stock is priced in Cdn$, but most of their business is in the US. The housing market is in reasonably good shape. He is confident enough to know that interest rates are not going to spike up enough to impact the US housing market.

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A very good way for Canadians to play the US residential real estate market. Stock is priced in Cdn$, but most of their business is in the US. The housing market is in reasonably good shape. He is confident enough to know that interest rates are not going to spike up enough to impact the US housing market.

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Peter Hodson

CEO & Head, 5i Research Inc....

Price Price
$8.270
Owned Owned
No

TOP PICK
Tricon Capital Group(TCN-T) 

January 6, 2016

A real estate play, mostly in the US. If you look at real estate prices or the economy in Houston, it is not as bad as what you would think from this stock price. They own 6800 residential homes, some principal investments, they do land development and mobile home development. You multiply that times 1.4 to get it back into Cdn$. All the time that the stock price has been declining, the NAV has been increasing and is around $11. Dividend yield of 2.73%.

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A real estate play, mostly in the US. If you look at real estate prices or the economy in Houston, it is not as bad as what you would think from this stock price. They own 6800 residential homes, some principal investments, they do land development and mobile home development. You multiply that times 1.4 to get it back into Cdn$. All the time that the stock price has been declining, the NAV has been increasing and is around $11. Dividend yield of 2.73%.

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James Telfser

Partner & , Aventine Management ...

Price Price
$8.780
Owned Owned
Yes

PAST TOP PICK
Tricon Capital Group(TCN-T) 

January 5, 2016

(Top Pick Jan 20/15, Up 2.23%) He sold about $10.  He had wanted to participate in the recovery of the US residential housing market. 

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(Top Pick Jan 20/15, Up 2.23%) He sold about $10.  He had wanted to participate in the recovery of the US residential housing market. 

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Paul Gardner, C

Partner an, Avenue Investment Ma...

Price Price
$8.860
Owned Owned
No

HOLD
Tricon Capital Group(TCN-T) 

December 16, 2015

Not sure why this has not moved because it had so much promise, and US housing has definitely picked up. They are in areas in the US that haven’t really experienced as much growth as some of the others. This is a decent play that gives you some yield as well.

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Not sure why this has not moved because it had so much promise, and US housing has definitely picked up. They are in areas in the US that haven’t really experienced as much growth as some of the others. This is a decent play that gives you some yield as well.

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John Stephenson

President , Stephenson & Company...

Price Price
$9.440
Owned Owned
Unknown

COMMENT
Tricon Capital Group(TCN-T) 

December 9, 2015

Has looked at in the past. The business model makes a lot of sense. Higher interest rates are going to affect their business. They are starting to focus primarily on the US now. The size of their loan portfolio is going to have an impact. He prefers Terra Firma (TII-X) which is a smaller version of this company, and has a lot of room and growth.

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Has looked at in the past. The business model makes a lot of sense. Higher interest rates are going to affect their business. They are starting to focus primarily on the US now. The size of their loan portfolio is going to have an impact. He prefers Terra Firma (TII-X) which is a smaller version of this company, and has a lot of room and growth.

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Bruce Campbell

President , Stone Castle Investm...

Price Price
$9.520
Owned Owned
No

COMMENT
Tricon Capital Group(TCN-T) 

December 8, 2015

He likes the business and the management team. They took a deal to the market to get a more permanent source of capital to help fund their development business. The market appetite just wasn’t there, which may have put a bit of a damper on the stock. Thinks they’ll grow through it. Have a good asset management business and single-family rental business in the US. Over time it will be fine. They tend to be pretty shrewd operators.

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He likes the business and the management team. They took a deal to the market to get a more permanent source of capital to help fund their development business. The market appetite just wasn’t there, which may have put a bit of a damper on the stock. Thinks they’ll grow through it. Have a good asset management business and single-family rental business in the US. Over time it will be fine. They tend to be pretty shrewd operators.

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Jeff Young

Co-CEO & C, NexGen Financial...

Price Price
$9.500
Owned Owned
No

DON'T BUY
Tricon Capital Group(TCN-T) 

November 25, 2015

US housing has been fairly strong, so this should benefit from that. Had about an 18% earnings miss on their recent quarter, indicating momentum is falling. He wouldn’t add to existing holdings. Low yield of 2.4%.

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US housing has been fairly strong, so this should benefit from that. Had about an 18% earnings miss on their recent quarter, indicating momentum is falling. He wouldn’t add to existing holdings. Low yield of 2.4%.

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Jason Mann

CIO & Co-F, Edgehill Patners...

Price Price
$9.800
Owned Owned
No

COMMENT
Tricon Capital Group(TCN-T) 

November 24, 2015

Essentially a play on US housing. They bought individual US houses and leased them out. As they appreciate in value, they will sell them. Hasn’t looked at this name for about 2-3 years. Feels the US housing is probably in the 2nd-3rd inning.

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Essentially a play on US housing. They bought individual US houses and leased them out. As they appreciate in value, they will sell them. Hasn’t looked at this name for about 2-3 years. Feels the US housing is probably in the 2nd-3rd inning.

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Jerome Hass

Portfolio , Lightwater Partners...

Price Price
$9.710
Owned Owned
No

BUY
Tricon Capital Group(TCN-T) 

November 16, 2015

Most people and most analysts like this name. He sees this as a buying opportunity at this level. The exposure is the US and he believes the US is a positive theme.

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Most people and most analysts like this name. He sees this as a buying opportunity at this level. The exposure is the US and he believes the US is a positive theme.

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John Stephenson

President , Stephenson & Company...

Price Price
$10.030
Owned Owned
No

BUY
Tricon Capital Group(TCN-T) 

November 13, 2015

He thinks this is a good entry point. Its focus is on real estate in the US south, particularly those areas that are experiencing the biggest growth. There is still a tremendous opportunity for them to grow their business.

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He thinks this is a good entry point. Its focus is on real estate in the US south, particularly those areas that are experiencing the biggest growth. There is still a tremendous opportunity for them to grow their business.

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Brendan Caldwel

President, Caldwell Securities...

Price Price
$9.920
Owned Owned
Yes

BUY
Tricon Capital Group(TCN-T) 

November 11, 2015

A fantastic company and one you can own for the long-term. They are going to do a lot of interesting things with their capital and with their Sidecar funds that they can invest in all sorts of projects relating to real estate. They want to be one of the largest residential real estate holders in North America. Reporting very soon, so keep an eye on it. They benefit from a lower Canadian dollar as they have a ton of real estate that they market in US$. This is now an attractive time to buy.

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A fantastic company and one you can own for the long-term. They are going to do a lot of interesting things with their capital and with their Sidecar funds that they can invest in all sorts of projects relating to real estate. They want to be one of the largest residential real estate holders in North America. Reporting very soon, so keep an eye on it. They benefit from a lower Canadian dollar as they have a ton of real estate that they market in US$. This is now an attractive time to buy.

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James Telfser

Partner & , Aventine Management ...

Price Price
$10.720
Owned Owned
No

PAST TOP PICK
Tricon Capital Group(TCN-T) 

November 10, 2015

(Top Pick Jan 6/15, Up 27.44%) Lately they got into the development business as well as the single family houses. 

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(Top Pick Jan 6/15, Up 27.44%) Lately they got into the development business as well as the single family houses. 

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Jim Huang

President, T.I.P. Wealth Manage...

Price Price
$10.690
Owned Owned
Yes

COMMENT
Tricon Capital Group(TCN-T) 

November 4, 2015

In the real estate space, but it is not a REIT. They have a wonderful business model that took advantage in the 2008-2009 period to buy lots of residential properties in the US at rock-bottom prices. A well-run company. One of the names he is looking at

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In the real estate space, but it is not a REIT. They have a wonderful business model that took advantage in the 2008-2009 period to buy lots of residential properties in the US at rock-bottom prices. A well-run company. One of the names he is looking at

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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$10.870
Owned Owned
No

PAST TOP PICK
Tricon Capital Group(TCN-T) 

October 7, 2015

(Top Pick Sep 10/14, Up 45.30%) A great company that ownes US single family homes.  It was a play on the recovering US housing market and low interest rates.  He sold it based on valuation because it had played itself out.  He got what he needed and got out.

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(Top Pick Sep 10/14, Up 45.30%) A great company that ownes US single family homes.  It was a play on the recovering US housing market and low interest rates.  He sold it based on valuation because it had played itself out.  He got what he needed and got out.

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Paul Gardner, C

Partner an, Avenue Investment Ma...

Price Price
$10.800
Owned Owned
No

TOP PICK
Tricon Capital Group(TCN-T) 

September 2, 2015

(All 3 picks are focused on benefiting from the US$.) Expects there is going to be a lot more growth in the Sunbelt stretching from Florida to Texas and down through California. This is a property developer in communities where there is much higher growth in employment. Population has been increasing faster than the US as a whole. Dividend yield of 2.12%.

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(All 3 picks are focused on benefiting from the US$.) Expects there is going to be a lot more growth in the Sunbelt stretching from Florida to Texas and down through California. This is a property developer in communities where there is much higher growth in employment. Population has been increasing faster than the US as a whole. Dividend yield of 2.12%.

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Brendan Caldwel

President, Caldwell Securities...

Price Price
$11.450
Owned Owned
Yes

COMMENT
Tricon Capital Group(TCN-T) 

August 12, 2015

US residential housing. It has done well. They have been able to raise money and grow their portfolio.Thinks gradually you will see continuous returns if they can keep financing themselves and acquiring more properties. It has a nice chart.

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US residential housing. It has done well. They have been able to raise money and grow their portfolio.Thinks gradually you will see continuous returns if they can keep financing themselves and acquiring more properties. It has a nice chart.

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Fabrice Taylor

Publisher, The President's Club...

Price Price
$11.120
Owned Owned
Unknown

COMMENT

Getting into the luxury apartment area and have just raised $150 million. A very interesting name, because it offers significant US exposure. Have interesting exposure in single-family housing and apartments all through the US, but in particular in the growthy parts of the US. Very well-managed. Dividend yield of 2.1%.

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Getting into the luxury apartment area and have just raised $150 million. A very interesting name, because it offers significant US exposure. Have interesting exposure in single-family housing and apartments all through the US, but in particular in the growthy parts of the US. Very well-managed. Dividend yield of 2.1%.

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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$11.380
Owned Owned
No

BUY

A fantastic story and are building this from the ground up. They are buying land, selling it off and developing it. They own pieces of it and are doing a great job of monetizing the assets. There is a lot of institutional money that is looking for a place to go, and they are benefiting from this. Just announced they are starting to develop some high-end multi-residential buildings in the US as well as a couple in Toronto. Still a lot of room for this to grow.

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A fantastic story and are building this from the ground up. They are buying land, selling it off and developing it. They own pieces of it and are doing a great job of monetizing the assets. There is a lot of institutional money that is looking for a place to go, and they are benefiting from this. Just announced they are starting to develop some high-end multi-residential buildings in the US as well as a couple in Toronto. Still a lot of room for this to grow.

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James Telfser

Partner & , Aventine Management ...

Price Price
$11.290
Owned Owned
Yes

PAST TOP PICK

(A Top Pick Sept 3/14. Up 54.99%.) He got into this because of the big leverage to the US housing market. At the time their big initiative was single-family housing rental and that has been a big winner. They have now evolved into luxury residence development. Still likes.

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(A Top Pick Sept 3/14. Up 54.99%.) He got into this because of the big leverage to the US housing market. At the time their big initiative was single-family housing rental and that has been a big winner. They have now evolved into luxury residence development. Still likes.

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Jim Huang

President, T.I.P. Wealth Manage...

Price Price
$11.860
Owned Owned
Yes

BUY

This has housing in the US. One of his favourites. Good cash flow that is very reasonable. Debt to equity is about 30%.

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This has housing in the US. One of his favourites. Good cash flow that is very reasonable. Debt to equity is about 30%.

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Allan Meyer

VP & Portf, Wickham Investment C...

Price Price
$11.970
Owned Owned
Yes

PAST TOP PICK

(Top Pick July 8/14, Up 61.97%) He exited out and is out of it.  He got his money.

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(Top Pick July 8/14, Up 61.97%) He exited out and is out of it.  He got his money.

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Paul Gardner, C

Partner an, Avenue Investment Ma...

Price Price
$12.040
Owned Owned
No

TOP PICK

88% of this company’s real estate investments are in the US, where he thinks there is tremendous upside potential. Interest rates may click higher, but he doesn’t think that is necessarily going to be a bad thing. Most of their holdings are in the States that got hit the hardest during the financial crisis. As a way of participating in a rebound in the US real estate, this is not a bad way to do it. Dividend yield of 2.05%.

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88% of this company’s real estate investments are in the US, where he thinks there is tremendous upside potential. Interest rates may click higher, but he doesn’t think that is necessarily going to be a bad thing. Most of their holdings are in the States that got hit the hardest during the financial crisis. As a way of participating in a rebound in the US real estate, this is not a bad way to do it. Dividend yield of 2.05%.

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Brendan Caldwel

President, Caldwell Securities...

Price Price
$11.900
Owned Owned
Yes

BUY

Likes US housing and this is the cleanest Canadian play. They own a diversified base of assets and also manage the assets on behalf of 3rd parties. All of the assets are basically US homes. One of the best diverse plays on US housing in general. You have 2 plays. There is the management of the properties and the income flows, and you have the valuation of the housing itself on the ones they own, which is at the low end of the valuation range and is starting to move higher.

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Likes US housing and this is the cleanest Canadian play. They own a diversified base of assets and also manage the assets on behalf of 3rd parties. All of the assets are basically US homes. One of the best diverse plays on US housing in general. You have 2 plays. There is the management of the properties and the income flows, and you have the valuation of the housing itself on the ones they own, which is at the low end of the valuation range and is starting to move higher.

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John Zechner

Chairman, J. Zechner & Assoc...

Price Price
$11.290
Owned Owned
Yes

BUY

It continues to unfold in a profitable way.  They are in about a dozen geographical regions.  They buy and renovate a single family home and rent it out.  The income yield is pretty attractive.  If housing prices go up, then you get that upside from here.

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It continues to unfold in a profitable way.  They are in about a dozen geographical regions.  They buy and renovate a single family home and rent it out.  The income yield is pretty attractive.  If housing prices go up, then you get that upside from here.

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Paul Taylor

CIO, Funda, BMO Asset Management...

Price Price
$10.990
Owned Owned
Yes

PAST TOP PICK

(Top Pick Jun 13/14, Up 47.88%) A great way for Canadian investors to play into the US housing market.  He still likes this name and thinks there is a lot of value in this company.

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(Top Pick Jun 13/14, Up 47.88%) A great way for Canadian investors to play into the US housing market.  He still likes this name and thinks there is a lot of value in this company.

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Derek Warren

Asst Vice , Lincluden Investment...

Price Price
$10.990
Owned Owned
Yes

COMMENT

A great little Canadian company that has established an interesting position in the US housing market. Their business is largely predicated upon a few different areas in the US housing market. They are into the single-family rental market where they are acquiring homes and renting them. Also, have been involved in owning land and developing homes. A nice way for a Canadian to own a Canadian company in order to get exposure to the US housing market. Also, have a good size asset management business where they manage some money for pensions. Well-run company.

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A great little Canadian company that has established an interesting position in the US housing market. Their business is largely predicated upon a few different areas in the US housing market. They are into the single-family rental market where they are acquiring homes and renting them. Also, have been involved in owning land and developing homes. A nice way for a Canadian to own a Canadian company in order to get exposure to the US housing market. Also, have a good size asset management business where they manage some money for pensions. Well-run company.

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Colin Stewart

CEO & Port, JC Clark Investments...

Price Price
$10.530
Owned Owned
No

BUY

Likes this quite a bit. Pulled back most recently because of the rebound in the Cdn$ relative to the US$ over the last week or so. That seems to be reversing again. They own rental properties in the US, particularly in the South. Have been very good operators. Continue to add to your holdings as they have delivered some nice returns and he doesn’t think interest rates are going to go up anytime soon, so the housing market in the US should be stable. Also, feels the company will continue to benefit from the trend in the Cdn$.

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Likes this quite a bit. Pulled back most recently because of the rebound in the Cdn$ relative to the US$ over the last week or so. That seems to be reversing again. They own rental properties in the US, particularly in the South. Have been very good operators. Continue to add to your holdings as they have delivered some nice returns and he doesn’t think interest rates are going to go up anytime soon, so the housing market in the US should be stable. Also, feels the company will continue to benefit from the trend in the Cdn$.

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James Hodgins

Chief Inve, Curvature Hedge Stra...

Price Price
$10.780
Owned Owned
Yes

PAST TOP PICK

(A Top Pick May 12/14. Up 40.43%.) They executed their strategy. Recently they were able to issue a bond against their properties, which basically lowered the cost of capital and freed up cash to do more acquisitions. Have also started buying lands and working with developers.

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(A Top Pick May 12/14. Up 40.43%.) They executed their strategy. Recently they were able to issue a bond against their properties, which basically lowered the cost of capital and freed up cash to do more acquisitions. Have also started buying lands and working with developers.

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Jim Huang

President, T.I.P. Wealth Manage...

Price Price
$10.710
Owned Owned
Yes

COMMENT

It was buying up misery properties in the US that were being foreclosed on, but is now into a more permanent and normal stage of property development, sales and rentals. Chart has a steady upward move.

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It was buying up misery properties in the US that were being foreclosed on, but is now into a more permanent and normal stage of property development, sales and rentals. Chart has a steady upward move.

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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$10.810
Owned Owned
Yes

HOLD

A great company. Asset manager focusing on the housing market, mostly in the US. Had a great little run lately, but that was after being stagnant around the $8 range for some time. The housing recovery in the US is really taking hold. They have a large portfolio of single-family rentals. Just announced a securitization of that, so they will be able to get debt out of it and reinvest that capital.

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A great company. Asset manager focusing on the housing market, mostly in the US. Had a great little run lately, but that was after being stagnant around the $8 range for some time. The housing recovery in the US is really taking hold. They have a large portfolio of single-family rentals. Just announced a securitization of that, so they will be able to get debt out of it and reinvest that capital.

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Derek Warren

Asst Vice , Lincluden Investment...

Price Price
$11.490
Owned Owned
Yes

DON'T BUY

They continue to deliver.  The company has done very well.  They just bought several hundred single family homes in the US.  They also have a land development business.  It is a bit expensive.

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They continue to deliver.  The company has done very well.  They just bought several hundred single family homes in the US.  They also have a land development business.  It is a bit expensive.

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Jeff Young

Co-CEO & C, NexGen Financial...

Price Price
$11.160
Owned Owned
Unknown

PAST TOP PICK

(A Top Pick March 17/04. Up 24.96%.) Has taken the money out of this recently on a valuation basis. It hit his target price of $10-$11 range. They own US housing, and also have funds that they manage where they get management fees.

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(A Top Pick March 17/04. Up 24.96%.) Has taken the money out of this recently on a valuation basis. It hit his target price of $10-$11 range. They own US housing, and also have funds that they manage where they get management fees.

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John Zechner

Chairman, J. Zechner & Assoc...

Price Price
$9.570
Owned Owned
No

BUY
Tricon Capital Group(TCN-T) 

February 19, 2015

If you are looking for almost exclusive US exposure, this would be it. 90% of their assets and revenues come from the US. This is in the single-family housing business, both through ownership as well as managing other people’s investments. Very well-managed company. Dividend yield of about 2.4%.

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If you are looking for almost exclusive US exposure, this would be it. 90% of their assets and revenues come from the US. This is in the single-family housing business, both through ownership as well as managing other people’s investments. Very well-managed company. Dividend yield of about 2.4%.

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Don Lato

President, Padlock Investment M...

Price Price
$9.900
Owned Owned
Yes