Automotive Properties Real Estate Investment Trust

APR.UN-T

Analysis and Opinions about APR.UN-T

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
November 4, 2019
Car dealerships across Canada. It is a high yielding stock because they have longer leases with the dealerships. You have to think about the space (car industry) and credit. Two thirds of the company is leased to one auto group so there is a lot of credit risk. That company is a private company so he thinks there is too much credit risk.
Car dealerships across Canada. It is a high yielding stock because they have longer leases with the dealerships. You have to think about the space (car industry) and credit. Two thirds of the company is leased to one auto group so there is a lot of credit risk. That company is a private company so he thinks there is too much credit risk.
Andrew Moffs
Senior Vice President and Portfolio Manager , Vision Capital
Price
$11.500
Owned
Unknown
BUY
BUY
April 1, 2019
They lease to car dealerships. They are good long term leases. There is probably a benefit from lower interest rates. If they can get their equity price strong again then they can use equity markets again. It is a good quality company with a good stable yield. It has a sustainable 7.5% yield.
They lease to car dealerships. They are good long term leases. There is probably a benefit from lower interest rates. If they can get their equity price strong again then they can use equity markets again. It is a good quality company with a good stable yield. It has a sustainable 7.5% yield.
Joshua Varghese
Portfolio manager, Signature Global Asset Management, CI Investments
Price
$10.780
Owned
Unknown
BUY
BUY
February 12, 2019
Interest rates won't rise much, which should help this. He likes APR's concept of owning the land on car dealerships which continue to pay APR (and its stockholders). He doesn't see a decrease in car sales.
Interest rates won't rise much, which should help this. He likes APR's concept of owning the land on car dealerships which continue to pay APR (and its stockholders). He doesn't see a decrease in car sales.
Zachary Curry
Chief Operating Officer & Portfolio Manager, Davis-Rea Ltd.
Price
$10.400
Owned
Yes
HOLD
HOLD
November 21, 2018
This is a smaller cap REIT. They put together a lot of car dealerships and collect the rent for the properties. They recently purchased some real estate locations from Auto Canada. It is very stable in Canada. He expects modest distribution growth.
This is a smaller cap REIT. They put together a lot of car dealerships and collect the rent for the properties. They recently purchased some real estate locations from Auto Canada. It is very stable in Canada. He expects modest distribution growth.
Michael Simpson, CFA
Senior Vice-President, Sentry Investments
Price
$9.770
Owned
Yes
BUY
BUY
March 31, 2017

He feels pretty comfortable adding to this name. A certain number of automotive properties are counter cyclical. The dealerships tend to be profitable unless you get into a recession. He thinks auto sales will remain fairly stable.

He feels pretty comfortable adding to this name. A certain number of automotive properties are counter cyclical. The dealerships tend to be profitable unless you get into a recession. He thinks auto sales will remain fairly stable.

Andy Nasr
VP & Investment Strategist, Sentry Investments
Price
$11.020
Owned
Yes
PAST TOP PICK
PAST TOP PICK
March 16, 2017

(A Top Pick Jan 13/16. Up 30%.) This company buys the land under auto dealerships and then leases it back to them. These are triple net leases, meaning that the dealership pays for everything, taxes and maintenance. There is a 1.5% escalator clause for every year. The company has made 2 acquisitions since last year. It is paying just under 7.5%, so a good income generating investment.

(A Top Pick Jan 13/16. Up 30%.) This company buys the land under auto dealerships and then leases it back to them. These are triple net leases, meaning that the dealership pays for everything, taxes and maintenance. There is a 1.5% escalator clause for every year. The company has made 2 acquisitions since last year. It is paying just under 7.5%, so a good income generating investment.

Zachary Curry
Chief Operating Officer & Portfolio Manager, Davis-Rea Ltd.
Price
$10.740
Owned
Yes
COMMENT
COMMENT
April 5, 2016

This is his preferred REIT right now. They specialize in owning the real estate of car dealerships. They are triple net leases, meaning that they don’t pay anything, the dealership pays the taxes, maintenance and utilities. This REIT collects rent from the dealership. They’re financing these out 5+ years, and this is yielding almost 9% right now.

This is his preferred REIT right now. They specialize in owning the real estate of car dealerships. They are triple net leases, meaning that they don’t pay anything, the dealership pays the taxes, maintenance and utilities. This REIT collects rent from the dealership. They’re financing these out 5+ years, and this is yielding almost 9% right now.

Zachary Curry
Chief Operating Officer & Portfolio Manager, Davis-Rea Ltd.
Price
$9.300
Owned
Yes
TOP PICK
TOP PICK
January 13, 2016

Owns about 26 car dealerships in Canada. Have moved the land under some of those dealerships into this REIT. The land is on triple net leases, meaning the car dealership, not the REIT, pays the taxes, maintenance and utilities, and the REIT gets the income from that. Leases are 11 years at a minimum with an annual 1.5% rent escalator. Their debt to interest payments is around 3.5%, and the majority of their debt does not come due until after 2020. Dividend yield of 8.96%.

Owns about 26 car dealerships in Canada. Have moved the land under some of those dealerships into this REIT. The land is on triple net leases, meaning the car dealership, not the REIT, pays the taxes, maintenance and utilities, and the REIT gets the income from that. Leases are 11 years at a minimum with an annual 1.5% rent escalator. Their debt to interest payments is around 3.5%, and the majority of their debt does not come due until after 2020. Dividend yield of 8.96%.

Zachary Curry
Chief Operating Officer & Portfolio Manager, Davis-Rea Ltd.
Price
$9.000
Owned
Yes
HOLD
HOLD
September 11, 2015

Basically car dealerships. They don’t own the dealerships, but lease to the companies that own them. This is new, so he is giving them a little bit of time to season. He will give it a couple of quarters. If you own, it is a new IPO, so you shouldn’t be selling it.

Basically car dealerships. They don’t own the dealerships, but lease to the companies that own them. This is new, so he is giving them a little bit of time to season. He will give it a couple of quarters. If you own, it is a new IPO, so you shouldn’t be selling it.

Derek Warren
Asst Vice President, Lincluden Investment Mgmnt
Price
$9.960
Owned
No
WATCH
WATCH
July 27, 2015

Canada’s newest REIT. He does not think there is a big reason for fear, but was unhappy with the debt level. He is waiting it out to see how it performs. They have top notch management. This is very similar to ACQ-T, but you own the real estate of the dealerships. 10.6% yield.

Canada’s newest REIT. He does not think there is a big reason for fear, but was unhappy with the debt level. He is waiting it out to see how it performs. They have top notch management. This is very similar to ACQ-T, but you own the real estate of the dealerships. 10.6% yield.

Derek Warren
Asst Vice President, Lincluden Investment Mgmnt
Price
$10.010
Owned
Unknown
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