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.

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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. 

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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.

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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%

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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

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