True North Apartment REIT (TN.UN-T) Stock Predictions - Stockchase
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True North Apartment REIT (TN.UN-T)

ON STOCKCHASE SINCE Aug 2012

Acquired by Northern Property REIT (Nov 2015)

REAL ESTATE

True North Apartment REIT

TN.UN-T

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True North Apartment REIT (TN.UN-T) SAVE Dec, 31, 1969, 7:00 pm

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What the experts are saying about TN.UN-T



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COMMENT

He thinks that there is a chance that the deal might fall apart.with Northern Properties. People aren't very happy with it. If the deal doesn't go through, both shares should recover. If the deal goes through , he thinks you might be in for some pain.

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He thinks that there is a chance that the deal might fall apart.with Northern Properties. People aren't very happy with it. If the deal doesn't go through, both shares should recover. If the deal goes through , he thinks you might be in for some pain.

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Fabrice Taylor

Publisher, The President's Club...

Price Price
$8.050
Owned Owned
Unknown

PAST TOP PICK

(Top Pick Jul 14/14, Up 3.26%) A good yielder.  A residential real estate play.  Apartments in Ontario, Quebec and Alberta.  Out of favour, but another one with a very high distribution.  8.8% distribution is easily sustainable at this point.

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(Top Pick Jul 14/14, Up 3.26%) A good yielder.  A residential real estate play.  Apartments in Ontario, Quebec and Alberta.  Out of favour, but another one with a very high distribution.  8.8% distribution is easily sustainable at this point.

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David Baskin

President, Baskin Wealth Manage...

Price Price
$8.080
Owned Owned
Yes

COMMENT

Has a very nice portfolio of low income-ish kind of housing, so occupancy is very stable. Because of the stability of income, they do tend to run at a higher payout ratio and a higher debt level than he is comfortable with. In the past, they have shown the ability to turn these apartments around, raise rents, and increase income over time.

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Has a very nice portfolio of low income-ish kind of housing, so occupancy is very stable. Because of the stability of income, they do tend to run at a higher payout ratio and a higher debt level than he is comfortable with. In the past, they have shown the ability to turn these apartments around, raise rents, and increase income over time.

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Derek Warren

Asst Vice , Lincluden Investment...

Price Price
$8.090
Owned Owned
No

COMMENT

He likes the apartment REIT space because of the safety it offers. There are a number of opportunities that he sees in the large cap space that would be a preferred investment to this. This one is very small and highly levered. Great portfolio, but he thinks others have a better balance sheet and a better price.

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He likes the apartment REIT space because of the safety it offers. There are a number of opportunities that he sees in the large cap space that would be a preferred investment to this. This one is very small and highly levered. Great portfolio, but he thinks others have a better balance sheet and a better price.

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Derek Warren

Asst Vice , Lincluden Investment...

Price Price
$8.420
Owned Owned
Unknown

COMMENT

An apartment REIT. Not one of his favourites because of the market cap size and the amount of debt it has. It does have quite a good portfolio and he likes management’s reputation on that level. Feels there is a bit more value in others. Yield of about 8%.

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An apartment REIT. Not one of his favourites because of the market cap size and the amount of debt it has. It does have quite a good portfolio and he likes management’s reputation on that level. Feels there is a bit more value in others. Yield of about 8%.

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Derek Warren

Asst Vice , Lincluden Investment...

Price Price
$8.380
Owned Owned
No

COMMENT

Quite a small portfolio, diversified portfolio.  He does not recommend commercial or office REITs for a couple of years.  Likes apartments because people have to live somewhere.

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Quite a small portfolio, diversified portfolio.  He does not recommend commercial or office REITs for a couple of years.  Likes apartments because people have to live somewhere.

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Derek Warren

Asst Vice , Lincluden Investment...

Price Price
$7.780
Owned Owned
No

COMMENT

He likes the apartment space at all times. Some of the stocks have had a bit of a run because people like the safety that is in apartment REITs. That is also attracting a lot of institutions into buying apartments as well. That has really driven the price up. This one's payout is a little high, so he hasn't been in this. Yield of about 8.5%.

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He likes the apartment space at all times. Some of the stocks have had a bit of a run because people like the safety that is in apartment REITs. That is also attracting a lot of institutions into buying apartments as well. That has really driven the price up. This one's payout is a little high, so he hasn't been in this. Yield of about 8.5%.

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Derek Warren

Asst Vice , Lincluden Investment...

Price Price
$8.250
Owned Owned
No

HOLD

Apartments are the safest thing you can get.  There is always execution risk.  It is safe for a long term hold.

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Apartments are the safest thing you can get.  There is always execution risk.  It is safe for a long term hold.

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Derek Warren

Asst Vice , Lincluden Investment...

Price Price
$8.780
Owned Owned
No

BUY

The name means Canadian properties, not Northern Canada.  Have one of the most attractive balance sheets in the space.  It is a very safe REIT.  Exposure to the energy market which is still booming.

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The name means Canadian properties, not Northern Canada.  Have one of the most attractive balance sheets in the space.  It is a very safe REIT.  Exposure to the energy market which is still booming.

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Derek Warren

Asst Vice , Lincluden Investment...

Price Price
$8.380
Owned Owned
Unknown

TOP PICK

This is one that a lot of people don’t know about because it is small cap, and hasn’t been on the market for a very long time. Likes the operator who has a lot of his own money in this. Just acquired a big new portfolio of about 150 buildings. Yield of 8.55%. Pay out ratio is 92%.

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This is one that a lot of people don’t know about because it is small cap, and hasn’t been on the market for a very long time. Likes the operator who has a lot of his own money in this. Just acquired a big new portfolio of about 150 buildings. Yield of 8.55%. Pay out ratio is 92%.

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David Baskin

President, Baskin Wealth Manage...

Price Price
$8.150
Owned Owned
Yes

DON'T BUY

He is really focused on organic growth versus growth by acquisition. This REIT happens to be externally managed, and he prefers internal management. Making acquisitions is good, because it increases the size and liquidity of the REIT, and hopefully that increases the institutional appeal. However, this one continues to trade at a discount to NAV. The acquisition they recently did, according to his math, was barely accretive, and remains highly leveraged with a high payout ratio. He would prefer something like Pure Multi-Family REIT (RUF.UN-T), which is somewhat similar in yield of about 8%, but it also has US apartment exposure.

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He is really focused on organic growth versus growth by acquisition. This REIT happens to be externally managed, and he prefers internal management. Making acquisitions is good, because it increases the size and liquidity of the REIT, and hopefully that increases the institutional appeal. However, this one continues to trade at a discount to NAV. The acquisition they recently did, according to his math, was barely accretive, and remains highly leveraged with a high payout ratio. He would prefer something like Pure Multi-Family REIT (RUF.UN-T), which is somewhat similar in yield of about 8%, but it also has US apartment exposure.

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Andy Nasr

VP & Inves, Sentry Investments...

Price Price
$8.100
Owned Owned
No

COMMENT

Trading at a deep discount to its NAV at about $9. Had a lousy quarter in the winter because it was so cold and everybody was cranking up their heat. As new renters move out, they are able to charge people for the Hydro, so that will really improve. Distribution is completely safe. Yield of 8.7%. This is a real asset and is not one that can be replaced.

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Trading at a deep discount to its NAV at about $9. Had a lousy quarter in the winter because it was so cold and everybody was cranking up their heat. As new renters move out, they are able to charge people for the Hydro, so that will really improve. Distribution is completely safe. Yield of 8.7%. This is a real asset and is not one that can be replaced.

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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$8.040
Owned Owned
Yes

BUY

Canadian REITs are trading at very attractive prices with very high current yields. In particular, he likes H&R (HR.UN-T) for industrial, RioCan (REI.UN-T) for retail and True North Apartments (TN.UN-T) for residential.

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Canadian REITs are trading at very attractive prices with very high current yields. In particular, he likes H&R (HR.UN-T) for industrial, RioCan (REI.UN-T) for retail and True North Apartments (TN.UN-T) for residential.

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David Baskin

President, Baskin Wealth Manage...

Price Price
$8.050
Owned Owned
Yes

PAST TOP PICK

(A Top Pick Feb 26/13. Down 12.54%.) Did a 2 for 5 stock split in March. Not happy with the outcome, but this is a factor of the entire REITs market. Surprised that REITs have not come back with the bond yields shrinking. Has good faith in apartment buildings in Canada. There is a lot of margin of safety in this type of business. When REITs come back into favour, this one will recover.

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(A Top Pick Feb 26/13. Down 12.54%.) Did a 2 for 5 stock split in March. Not happy with the outcome, but this is a factor of the entire REITs market. Surprised that REITs have not come back with the bond yields shrinking. Has good faith in apartment buildings in Canada. There is a lot of margin of safety in this type of business. When REITs come back into favour, this one will recover.

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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$7.840
Owned Owned
Yes

SELL

(Market Call Minute.) There is better quality in the multi residential sector such as Boardwalk (BEI.UN-T) or CAP REIT (CAR.UN-T).

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(Market Call Minute.) There is better quality in the multi residential sector such as Boardwalk (BEI.UN-T) or CAP REIT (CAR.UN-T).

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Andy Nasr

VP & Inves, Sentry Investments...

Price Price
$7.990
Owned Owned
Unknown

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