Andrew Moffs
Member since: Nov '19
Senior Vice President and Portfolio Manager at
Vision Capital

Latest Top Picks

(A Top Pick Nov 04/19, Down 9%) The value of buildings are higher now than a year ago, but the stock price is down. A disconnect. He continues to recommend it. They're focused on affordable housing in Dallas and the Sunbelt. It trades at a wide discount to NAV. Great managers. It's a buying opportunity.
(A Top Pick Nov 04/19, Down 7%) COLD specializes in frozen warehouse storage, a very defensive asset class with growth. They have a good moat. COLD is the largest player in this space. There's a mismatch in valuation in the private market; these buildings trade at a discount to industrial assets. The spread is too wide. During the pandemic, it was defensive. He still likes it. There is an opportunity for them to store vaccines. Still likes it.
(A Top Pick Nov 04/19, Up 22%) They hold industrial warehouses, which has enjoyed a boost during the pandemic. GRT is well-positioned, diversified in the US, Canada and Europe. Managers bet on their assets worth more after the pandemic, so they raised equity to buy assets--a smart move. GRT has a strong balance sheet that could lead to acquisitions.
Pays a 4.93% yield. Assets are higher now than pre-Covid. It trades north of its 6% CAP rate, which is way too high (see past picks today). BSR is undervalued and cheap now. This could be north of $16. Tremendous value now. Canadians don't recognize the American value.
Owns 21,000 single-family units in the US sunbelt; this sector has seen a major tailwind during Covid. Covid has seen strong demand for spacious, suburban housing. Renting such a single-family home is cheaper (by sq. ft.) than a multi-family unit. TCN has enjoyed cash flow grow. Compared to its U.S. peers, TCN is very cheap. It has 50-80% upside if you apply the same valuation against its peers, like Invitation Homes, and apply the cap rate in its apartment holdings vs. peers. A vote of confidence happened when Blackstone invested in TCN. (Analysts’ price target is $12.69)