Nexus Real Estate Investment Trust (NXR.UN.TO)

Likes the space, which he owns for its growth. Nice portfolio with a focus on secondary markets where it can be competitive. Attractive distribution of just under 8%, but high payout ratio. Any slipup in earnings could mean distribution is unsustainable.

Higher leverage. He prefers more defensive, investment-grade balance sheets. Bit of a show-me story. Lower-growth profile. Better choices elsewhere.

See his Top Picks.

A high yield can be positive or negative. They've been changing their portfolio for the past 5 or so years more to industrials, which is a space he likes. Nexus is interesting and he hasn't look like it closely lately.

Pays over an 8% dividend yield, but their growth rate lags industrial REIT peers like DIR.UN. They lowered their guidance for the year, and they carry more debt than others at a high payout ratio.

Industrial properties in Western Canada, London, and Montreal. Not quite big enough for the index, but it's close. Some really good assets. If they can just get over the hump to the $1-1.5B market cap, then this could become an in-favour REIT with institutions. Thinks they can do it if they can keep adding good assets. Good yield, good CEO.

Great name. Industrial segment is one of the more economically sensitive spots. A lot of it counts on shipping, manufacturing, AMZN goods, etc. On-again, off-again tariffs are creating both fear and opportunity. Stock's come off too much, the situation's not that bad. Still have a good industry here in Canada, which might actually be growing as we go back to "Buy Canada". 

The risk is a recession, which is very hard to predict. If there is one, this name would be hurt a bit more. If you think we're going to skate through, then now is the time to pick this up.

Pretty good job transitioning to pure-play industrial, but some worry about capital allocation. Trades at a higher discount than peers. He wants more liquidity and concentrated in key markets. Better risk/reward in larger entities with more liquidity. See his Top Picks.

Struggling a little with debt. Solid managers. Industrial REITs are doing gangbusters. Are fully occupied and lease rates are rising. As they have been selling non-core assets, the market has pressured shares. Doesn't think they will cut the dividend. Is moving in the right direction. Lower rates will help.

Industrial REIT's have performed well with eCommerce growth (storage). Major beneficiary of lower inflation rates going forward. Would expect share price to increase going forward with higher dividends. 

Stalled on acquisitions. Small cap, over-levered, failed to execute. He got out and moved on.

80% industrial, hoping to get to 90% by end of this year. Still owns some office and retail. Needs to sell assets to lower net debt, and then buy better-quality industrial assets. An execution and show-me story. Above-average debt profile, with an above-average dividend yield of 8.8%. Management's done well. Interest rates are a headwind.

Likes industrial real estate space.
Stock down because of rising interest rates.
Current share price a good place to buy.
Narrative on falling office space demand overblown.
Too much debt on balance sheet also reason shares under pressure.
Prefers Granite REIT & DREAM before Nexus. 

Small cap, so be careful of volatility. Was diversified real estate, but now turning into pure-play industrial. Loves the industrial theme. Low cost, low capital intensity. Big headway in the London ON market, a real hotbed of activity for transportation and distribution. Yield is 7.71%.

It is a very good company with 85% of its business in the warehouse space. It is looking to get out of the office space part and extend the industrial component. Has facilities in B.C. too. It is actively issuing shares to become larger. Consider it a safe hold with a good distribution yield and growing rents.