Dennis Mitchell, CFA
Member since: Nov '06
Executive Vice-President & Chief Investment Office at
Sentry Select Capital Corp

Latest Top Picks

(A Top Pick August 20/12. Down 13.56%.) Sold off in sympathy with the rest of the REIT universe. Sold his holdings. Doubled the size of the REIT in the last 3 years but cash flow per unit growth has been constrained by their balance sheet. Have now de-levered and secured an investment grade credit rating so they will get rid of the convertibles and add more secured debentures which will improve their cost of capital. Still a good quality name.
(A Top Pick August 20/12. Up 27.04%.) Midstream processor tied to gas volumes, NGL pricing, differentials. Have done a great job this year and have a number of developments and expansions they can do, which will grow cash flow per unit going forward. Not a lot of upside left in this. Wait for the low $50’s before getting in.
(A Top Pick August 20/12. Up 42.1%.) Tremendous business 4 or 5 subsidiaries. Still further upside to this name. Worth $60-$65.
The best and largest mall REIT globally. NAV is about $180 with a target price as high as $213. Feels it is worth $185-$186. 2.9% dividend yield.
Global utility/infrastructure name. Have assets in North America, South America, Europe and Asia. Also, into rail, storage and an Australian terminal. He sees them taking assets out of low single digit ROE investments and putting them into mid-teen ROE assets. Has delivered a 20% compound annual return over the last 5 years and grown its distribution by over 7% a year for the last 3 years. 4.67% yield.