Milestone Apartment REIT

MST.UN-T

0.00
0.00 (0.00%)
This company is not ACTIVE.

Analysis and Opinions about MST.UN-T

Signal
Opinion
Expert
COMMENT
COMMENT
July 20, 2016

He loves this company, and it was a Top Pick a while ago. This is mostly in Texas. They have raised their dividend. The revenue comes in US$. They have been able to increase the rents on their properties over the last couple of years. Pays a nice yield of 3.5%.

Show full opinionHide full opinion

He loves this company, and it was a Top Pick a while ago. This is mostly in Texas. They have raised their dividend. The revenue comes in US$. They have been able to increase the rents on their properties over the last couple of years. Pays a nice yield of 3.5%.

BUY WEAKNESS
BUY WEAKNESS
July 12, 2016

Listed in Toronto, but all their assets are in the US. An operating manager of garden style multi-family communities in the Sunbelt states of Texas, Florida and Arizona. All revenue and income are in US$, whereas the stock is in Cdn$, so you have to be aware of the exchange rate. The distribution can be taken in either currency. Very good operators. Yield of about 3.5%. She would add on a pullback.

Show full opinionHide full opinion

Listed in Toronto, but all their assets are in the US. An operating manager of garden style multi-family communities in the Sunbelt states of Texas, Florida and Arizona. All revenue and income are in US$, whereas the stock is in Cdn$, so you have to be aware of the exchange rate. The distribution can be taken in either currency. Very good operators. Yield of about 3.5%. She would add on a pullback.

COMMENT
COMMENT
July 8, 2016

Apartment REITs would be the better investment if interest rates go up, because they have the shortest lease terms. This one is all US apartments, focused in the US Sunbelt. It has done exceedingly well and is at all-time highs. He wouldn’t be buying at this level. Great management.

Show full opinionHide full opinion

Apartment REITs would be the better investment if interest rates go up, because they have the shortest lease terms. This one is all US apartments, focused in the US Sunbelt. It has done exceedingly well and is at all-time highs. He wouldn’t be buying at this level. Great management.

TOP PICK
TOP PICK
May 18, 2016

All their properties are in high job growth markets in the US. In the US, job creation is mostly in low wage service jobs, and people are looking for a place to live, but house prices have increased quite a bit. That is driving a lot of demand for properties, and this company’s average rent is about $900 a month, quite affordable and very good quality locations. They have been able to derive rent growth at about 6% in the past few years, and looking forward he thinks that is what they will do, deriving pretty good cash flow growth. Dividend yield of 3.86%.

Show full opinionHide full opinion

All their properties are in high job growth markets in the US. In the US, job creation is mostly in low wage service jobs, and people are looking for a place to live, but house prices have increased quite a bit. That is driving a lot of demand for properties, and this company’s average rent is about $900 a month, quite affordable and very good quality locations. They have been able to derive rent growth at about 6% in the past few years, and looking forward he thinks that is what they will do, deriving pretty good cash flow growth. Dividend yield of 3.86%.

PARTIAL SELL
PARTIAL SELL
May 6, 2016

(Market Call Minute.) Great company, but too expensive. If you own, he would trim.

Show full opinionHide full opinion

(Market Call Minute.) Great company, but too expensive. If you own, he would trim.

PAST TOP PICK
PAST TOP PICK
April 28, 2016

(Top Pick May 11/15, Up 31.13%) Very astute Americans running middle class housing. They are very good at what they do and you should continue holding it. You buy it for distribution as well as appreciation.

Show full opinionHide full opinion

(Top Pick May 11/15, Up 31.13%) Very astute Americans running middle class housing. They are very good at what they do and you should continue holding it. You buy it for distribution as well as appreciation.

TOP PICK
TOP PICK
January 8, 2016

Not really a REIT player, but looking at this on its own merits, he saw all the metrics that he likes to see in a regular company. These are US apartments in the Sunbelt where population growth is higher. A lot of it is in Texas and Florida. Although operations are in the US, they are listed in Canada and cash flows are in US$s. Just recently announced they were going to change their distribution from Cdn$ to US$. They also announced the distribution was being bumped up by 12%, but since that announcement, the Cdn$ has fallen more, so you are actually getting about a 20% bump in distribution. Payout ratio is fairly low below 60%. Recently made a big acquisition from Starwood which should give them an opportunity to grow more rapidly and to make more and more acquisitions. They are also in areas where there are no rental controls. Trading at about a 20% discount to their peers. Dividend yield of 4.4%.

Show full opinionHide full opinion

Not really a REIT player, but looking at this on its own merits, he saw all the metrics that he likes to see in a regular company. These are US apartments in the Sunbelt where population growth is higher. A lot of it is in Texas and Florida. Although operations are in the US, they are listed in Canada and cash flows are in US$s. Just recently announced they were going to change their distribution from Cdn$ to US$. They also announced the distribution was being bumped up by 12%, but since that announcement, the Cdn$ has fallen more, so you are actually getting about a 20% bump in distribution. Payout ratio is fairly low below 60%. Recently made a big acquisition from Starwood which should give them an opportunity to grow more rapidly and to make more and more acquisitions. They are also in areas where there are no rental controls. Trading at about a 20% discount to their peers. Dividend yield of 4.4%.

HOLD
HOLD
December 18, 2015

Milestone Apartments (MST.UN-T) or Canadian Apartments (CAR.UN-T)? A very well-run company. It has a good asset base of Southern US apartments, which has very aggressive rent growth. You are fine with this. (See Top Picks.)

Show full opinionHide full opinion

Milestone Apartments (MST.UN-T) or Canadian Apartments (CAR.UN-T)? A very well-run company. It has a good asset base of Southern US apartments, which has very aggressive rent growth. You are fine with this. (See Top Picks.)

COMMENT
COMMENT
December 11, 2015

A Canadian company, but with US low rise multi-resident assets in the US Sunbelt. The nice thing is that they are switching their dividend to US pay. Dividend yield of just over 4%. Likes the story and the management team. They are doing a really good job. This will not be high growth, just slow and steady.

Show full opinionHide full opinion

A Canadian company, but with US low rise multi-resident assets in the US Sunbelt. The nice thing is that they are switching their dividend to US pay. Dividend yield of just over 4%. Likes the story and the management team. They are doing a really good job. This will not be high growth, just slow and steady.

BUY
BUY
November 12, 2015

He owns RUF.UN-T. MST-T has done well and you are buying a portfolio in the sun belt of the US. There is some risk in the Huston buildings, but does not seem to have shone through in the stock, which worries him. US properties in a Canadian REIT is a good place to be. 4.1% yield.

Show full opinionHide full opinion

He owns RUF.UN-T. MST-T has done well and you are buying a portfolio in the sun belt of the US. There is some risk in the Huston buildings, but does not seem to have shone through in the stock, which worries him. US properties in a Canadian REIT is a good place to be. 4.1% yield.

COMMENT
COMMENT
September 11, 2015

This has done very well. One of the top-performing REITs this year. The apartment market in the US (mostly Dallas, etc.) continues to be very, very strong. There is a real tendency happening in the US where people are choosing to rent for longer. They are not rushing out to buy a house. These are entry-level apartments, not luxury ones. He has been warming up to this. Pretty cheap. Dividend yield of 4.5%.

Show full opinionHide full opinion

This has done very well. One of the top-performing REITs this year. The apartment market in the US (mostly Dallas, etc.) continues to be very, very strong. There is a real tendency happening in the US where people are choosing to rent for longer. They are not rushing out to buy a house. These are entry-level apartments, not luxury ones. He has been warming up to this. Pretty cheap. Dividend yield of 4.5%.

BUY
BUY
September 8, 2015

Likes this a lot. Owns garden style apartment communities in the US. The apartment sector is very defensive, so if you think the economy is going to slow down, it increases demand for low income Housing. The nice thing with this is that they have relatively high turnover, usually 60% in the US. In an environment where there is significant rent growth, they are able to capture those rents a lot quicker. An increase in interest rates could increase demand for their garden style communities. Payout ratio is below 60%. Trading at a reasonably good valuation.

Show full opinionHide full opinion

Likes this a lot. Owns garden style apartment communities in the US. The apartment sector is very defensive, so if you think the economy is going to slow down, it increases demand for low income Housing. The nice thing with this is that they have relatively high turnover, usually 60% in the US. In an environment where there is significant rent growth, they are able to capture those rents a lot quicker. An increase in interest rates could increase demand for their garden style communities. Payout ratio is below 60%. Trading at a reasonably good valuation.

Andy Nasr

Unlock Ratings

Price
$14.810
Owned
Unknown
COMMENT
COMMENT
July 27, 2015

A REIT that just has apartment properties in the southern US. It looks really interesting. 5% yield. Looks cheap. Looking very closely at this.

Show full opinionHide full opinion

A REIT that just has apartment properties in the southern US. It looks really interesting. 5% yield. Looks cheap. Looking very closely at this.

COMMENT
COMMENT
July 2, 2015

Really likes management. This is a relatively high quality apartment portfolio in the US. It has really benefited from the outsized rent growth in the US. His only concern would be towards the end of 2016-2017 when there is going to be some incremental supply, which means rent growth will slow down.

Show full opinionHide full opinion

Really likes management. This is a relatively high quality apartment portfolio in the US. It has really benefited from the outsized rent growth in the US. His only concern would be towards the end of 2016-2017 when there is going to be some incremental supply, which means rent growth will slow down.

HOLD
HOLD
June 23, 2015

Apartment REIT for lower end Texas properties. CAP rates are currently very low on these. There could be some opportunities here for management.

Show full opinionHide full opinion

Apartment REIT for lower end Texas properties. CAP rates are currently very low on these. There could be some opportunities here for management.

Showing 16 to 30 of 46 entries