MacQuarie Infrastructure LLC (MIC-N)

Doesn't know much about it. Pays a huge dividend over 10%. There is policy risk here, so he wouldn't buy it, and it's taken a big hit recently.

He is not a fan of this sector as the value of commercial real estate and infrastructure assets is looking more like a bond. The sector could be hurt with higher interest rates. This company recently took it on the chin (he could not recall exactly why). This company is technically broken and the sector is at risk. He would move on.

It is the sector. There is money flowing around the marketplace. They do a good job but flows are not into this sector at this time. You either have to be patient or move the money to something with more legs.

Why is MacQuarrie (MIC-N) weaker than Mastec (MTZ-N)? MacQuarrie Infrastructure, has a whole bunch of different types of hard assets and assets that are long life. It is going to act more like a bond because they are long life fairly predictable assets. Mastec is a company that is in a couple of secular themes, but is a growth stock. It is tightly tied to growth in a couple of areas. Thinks the secular changes taking place in both telecom equipment and pipelines, is significant. Mastek builds infrastructure, like pipelines, as well as being very big in maintenance and infrastructure work on cell towers, which are both going through very strong lifts. We are about to go through a process where all telcos are going to be putting up 5G equipment on cell towers, and Mastec gets paid to do that stuff.

(Top Pick Dec 7/16, Down 8.4%) It is a steady eddie stock. Someone came up with a short thesis and it went down. It pays a good solid dividend of almost 7%.

Had owned this, but was concerned with the high dividend. This is MacQuarie’s vehicle to invest globally in infrastructure projects. They can afford it, because they are using the assets to raise debt financing, and based off of that, the dividend is fine. It is on his radar. He switched to Brookfield Infrastructure (BIP-N).

Has owned this in the past and thinks it is a long term holding. They are one of the leaders in this space. The whole developed world is going to be needing everything to be repaired, updated and replaced, so this company is going to play that game. Secondly, global energy, dams, etc. is still going to be very, very important. 6.2% dividend yield.

He owns Brookfield Asset Management (BAM.A-T). There are good opportunities in infrastructure plays in the next little while. There is more and more talk about how the private sector has to work with the public sector. This company is very good at what they do. There are a lot of people involved in infrastructure these days, so you have to be cautious about what they pay to get something.

He doesn’t own any infrastructure stocks, but this one is good and has a good track record. Infrastructure stocks have been consistent performers. They have been yield stocks, but have been able to grow through it, and you want that combination. Infrastructure stocks do look better with Trump saying he is going to do a lot of stuff. Dividend yield of 6.2%.

A “steady Eddie” infrastructure play. It does airports with de-icing and provides the planes with food. It owns oil storage, some wind farms and some utilities. Dividend yield of 6.26%. This is a stock that you don’t have to worry about. (Analysts’ price target is $94.80.)

(Market Call Minute.) Has held this for a long time in his infrastructure fund. He really likes it.

He likes this. A midstream type company where they own a lot of different assets. Expects they will continue to do well. It will be a little interest sensitive because of the sector it is in. Has a lot of US exposure, which he likes.

A lot of the stocks went down because of the view they were directly related to energy. This company owns a lot of oil storage tanks, and a Hawaiian utility, and yet it trades off as though it were an oil driller. He likes the company. Solid dividend and good growth prospects. Dividend yield of 6.8%.