Michelle Wearing
Member since: May '19
Portfolio Manager at
Starlight Capital

Latest Top Picks

(A Top Pick Aug 22/19, Up 29%) She's added to her position, likes it. It's a global industrial landlord in North America and Europe. It benefits from quality industrial space. They collected 99% of rents in Q2. They acquired 5 million sq.ft. They report Q2 tomorrow. Happy to own it.
(A Top Pick Aug 22/19, Up 14%) Added to this. It's a major single-family rental company. They have a solid balance sheet. They benefit from existing low single-family home supply and starts, plus pent-up demand. They collected 96.5% of Q2 rents. Solid cash flow.
(A Top Pick Aug 22/19, Down 26%) Sold in March. They own high-quality office on the west coast from LA to Vancouver. She sold in March anticipating the damage from COVID. She is cautious about this REIT and type of REIT until a vaccine emerges, likely next year. No, the office isn't dead and she expects most people to return to the office, but this could take years. Cash flow has held up well.
The only REIT in health sciences, and is benefiting from demand to treat and cure COVID-19 and other diseases. Though considered an office REIT, she notes that many of its tenants cannot work from home. Rent collection is impressive at 99%, because life sciences are deemed essential. It leased 1 million sq. feet in Q2, consistent with prior quarters with rents 15% higher. Likes its assets, and it's a niche way to play this sector. (Analysts’ price target is $181.56)
They own the highest-quality residential properties in Toronto, Ottawa, Montreal, Calgary and Edmonton. It's trading at a 24% discount to NAV vs. peers of 10%. Recent underperformance is a reaction to the trend of people moving to the suburbs. The rents are 13% below market, so there'll be much growth. She expects them to raise the dividend on Tuesday night. A good pipeline for growth. (Analysts’ price target is $22.75)