Northview Apartment Real Estate

NVU.UN-T

Analysis and Opinions about NVU.UN-T

Signal
Opinion
Expert
BUY
BUY
February 26, 2014

5.5% yield. Very good for apartments considering how safe the revenue is. Stability of income and some growth. There will be some noise about how cold has affected some of their buildings.

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5.5% yield. Very good for apartments considering how safe the revenue is. Stability of income and some growth. There will be some noise about how cold has affected some of their buildings.

COMMENT
COMMENT
February 7, 2014

Feels the dividend is sustainable. Most REITs have brought their payout ratios down fairly substantially over the last number of years. Where they were generally in the 90%-95% range 5 years ago, today they are at about 84% ratio. Their properties have a dominant market share in their communities with good supply/demand dynamics.

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Feels the dividend is sustainable. Most REITs have brought their payout ratios down fairly substantially over the last number of years. Where they were generally in the 90%-95% range 5 years ago, today they are at about 84% ratio. Their properties have a dominant market share in their communities with good supply/demand dynamics.

BUY
BUY
January 24, 2014

(Market Call Minute.) Very attractive yield. Management is more focused on development versus acquisitions. Strong history of development. Should be out to get some pretty good dividend growth in a longer-term.

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(Market Call Minute.) Very attractive yield. Management is more focused on development versus acquisitions. Strong history of development. Should be out to get some pretty good dividend growth in a longer-term.

BUY
BUY
December 17, 2013

Has been down over the last couple of days due to tax loss selling. Definitely a buy. A good opportunity to buy a solid yield. You can expect an increase in the dividend next year.

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Has been down over the last couple of days due to tax loss selling. Definitely a buy. A good opportunity to buy a solid yield. You can expect an increase in the dividend next year.

BUY
BUY
November 20, 2013

Focused predominantly on apartments and have invested in the northern parts of provinces like Alberta, British Columbia and the Northwest Territories. Sold off their long-term care and seniors portfolio and needed to place the capital back into new investments. Invested in acquisitions and developments over the last year. Finally saw a clean quarter in Q3 and delivered about 10% in free cash flow growth. Leverage is at a sustainable level in and around 50%. Payout ratio is sustainable. High-quality management team.

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Focused predominantly on apartments and have invested in the northern parts of provinces like Alberta, British Columbia and the Northwest Territories. Sold off their long-term care and seniors portfolio and needed to place the capital back into new investments. Invested in acquisitions and developments over the last year. Finally saw a clean quarter in Q3 and delivered about 10% in free cash flow growth. Leverage is at a sustainable level in and around 50%. Payout ratio is sustainable. High-quality management team.

HOLD
HOLD
November 14, 2013

Have apartments in relatively remote locations in Canada that are hard to get to so there is scarcity value there. Really attractive yield. Payout ratio is low. Debt to gross BV is low. They are focused on organic growth. 6% dividend yield. Could be $30 in the next 12 months.

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Have apartments in relatively remote locations in Canada that are hard to get to so there is scarcity value there. Really attractive yield. Payout ratio is low. Debt to gross BV is low. They are focused on organic growth. 6% dividend yield. Could be $30 in the next 12 months.

BUY
BUY
November 13, 2013

Specifically specializes in real estate apartments in northern Canada, as well as northern parts of the provinces. Really likes this REIT and this is a good time to own this. Yields they are getting on development of their properties is fantastic. Fantastic balance sheet and very low debt. Very defensive name.

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Specifically specializes in real estate apartments in northern Canada, as well as northern parts of the provinces. Really likes this REIT and this is a good time to own this. Yields they are getting on development of their properties is fantastic. Fantastic balance sheet and very low debt. Very defensive name.

BUY
BUY
September 24, 2013

This one was unfairly punished. Fantastic balance sheet. Where investors have struggled is how to value properties in Iqaluit. He has found that the stability of the cash flow is excellent. Debt is low and has a good yield. Undervalued. 5.57% yield.

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This one was unfairly punished. Fantastic balance sheet. Where investors have struggled is how to value properties in Iqaluit. He has found that the stability of the cash flow is excellent. Debt is low and has a good yield. Undervalued. 5.57% yield.

TOP PICK
TOP PICK
September 3, 2013

All the REITs have been beaten up because they are interest sensitive. This is a smaller cap REIT and specializes in multifamily units, mostly in northern Canada although they do have some operations in St. John’s Newfoundland. Sold their senior care operations earlier this year which had been a drag on the stock. Made some acquisitions and are looking at some green field operations (building from scratch). Low payout ratio so there is lots of room for distribution to grow. Dividend yield of 5.71%.

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All the REITs have been beaten up because they are interest sensitive. This is a smaller cap REIT and specializes in multifamily units, mostly in northern Canada although they do have some operations in St. John’s Newfoundland. Sold their senior care operations earlier this year which had been a drag on the stock. Made some acquisitions and are looking at some green field operations (building from scratch). Low payout ratio so there is lots of room for distribution to grow. Dividend yield of 5.71%.

TOP PICK
TOP PICK
August 30, 2013

(Top Pick Sep 17/12, Down 9.92%) Remains a core holding. Really good value and sell off is a great entry point. Clean balance sheet. Will realize some organic growth by building properties or acquisitions. It will take 2-3 years for expansion to filter down to distribution. They are in areas with high cost of entry, so low competition.

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(Top Pick Sep 17/12, Down 9.92%) Remains a core holding. Really good value and sell off is a great entry point. Clean balance sheet. Will realize some organic growth by building properties or acquisitions. It will take 2-3 years for expansion to filter down to distribution. They are in areas with high cost of entry, so low competition.

WAIT
WAIT
August 7, 2013

Apartment buildings in Alberta and BC and specifically in Nunavut and Fort McMurray. Got out of the nursing home business about a year ago and are now more focused on apartments. At this price, it is a little more compelling. The company reports on Aug 13/13 and he would wait to see what is reported.

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Apartment buildings in Alberta and BC and specifically in Nunavut and Fort McMurray. Got out of the nursing home business about a year ago and are now more focused on apartments. At this price, it is a little more compelling. The company reports on Aug 13/13 and he would wait to see what is reported.

BUY
BUY
November 29, 2012

A good REIT and one of the cheaper ones. Very specialized assets in the North West Territories and the Yukon where they have very low levels of competition. Sold off a seniors housing property which gave them cash which they haven’t deployed yet. As they reinvest the money, you should see the stock price going up again.

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A good REIT and one of the cheaper ones. Very specialized assets in the North West Territories and the Yukon where they have very low levels of competition. Sold off a seniors housing property which gave them cash which they haven’t deployed yet. As they reinvest the money, you should see the stock price going up again.

COMMENT
COMMENT
November 6, 2012

When everybody declared REITs were over, this name fell and the chart was pretty ugly. Spiked up recently, maybe as a candidate for TSX inclusion which will be announced on Friday. It probably got picked on more than others because it has no growth. He thinks that changes when they deploy the proceeds from the seniors’ portfolio into apartments. Like it better at $30.

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When everybody declared REITs were over, this name fell and the chart was pretty ugly. Spiked up recently, maybe as a candidate for TSX inclusion which will be announced on Friday. It probably got picked on more than others because it has no growth. He thinks that changes when they deploy the proceeds from the seniors’ portfolio into apartments. Like it better at $30.

TOP PICK
TOP PICK
September 17, 2012

(Comments for Bombardier (BBD.B-T) inserted in error. Sorry. The following are the correct comments Bill.)

Great multi-residential apartment REIT. Trades at a substantial discount to its peers with a rock solid balance sheet. Debt to growth BV is about 35%. About 17% of their debt is coming up for maturity which, if it gets refinanced at lower rates and if they are eligible for CMHC financing, will increase their cash flow by about 7% next year. Pretty decent yield of about 5%. Good acquisition candidate. Can see it at $36 in 12 months.

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(Comments for Bombardier (BBD.B-T) inserted in error. Sorry. The following are the correct comments Bill.)

Great multi-residential apartment REIT. Trades at a substantial discount to its peers with a rock solid balance sheet. Debt to growth BV is about 35%. About 17% of their debt is coming up for maturity which, if it gets refinanced at lower rates and if they are eligible for CMHC financing, will increase their cash flow by about 7% next year. Pretty decent yield of about 5%. Good acquisition candidate. Can see it at $36 in 12 months.

PAST TOP PICK
PAST TOP PICK
August 20, 2012

(A Top Pick Aug 4/11. Up 15.27%.) Would have done better but they announced they were going to be selling their seniors housing portfolio which raised questions on proceeds they would get and what they would do. 4.7% yield.

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(A Top Pick Aug 4/11. Up 15.27%.) Would have done better but they announced they were going to be selling their seniors housing portfolio which raised questions on proceeds they would get and what they would do. 4.7% yield.

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