Latest Expert Opinions

Signal
Opinion
Expert
HOLD
HOLD
January 19, 2010
Apartment building and trailer parks in primarily Atlantic Canada. He was impressed how Atlantic Canada weathered the downturn. Fairly valued at these values. It’s a wait and see as to whether they can grow cash flow. Talked about entering Ottawa and Toronto markets.
Apartment building and trailer parks in primarily Atlantic Canada. He was impressed how Atlantic Canada weathered the downturn. Fairly valued at these values. It’s a wait and see as to whether they can grow cash flow. Talked about entering Ottawa and Toronto markets.
Dennis Mitchell, CFA
Executive Vice-President & Chief Investment Office, Sentry Select Capital Corp
Price
$8.470
Owned
Yes
HOLD
HOLD
January 19, 2010
Building is 30 stories out of the ground, to be completed in 2011/12. It’s fairly valued at these levels. Distribution increase expected in 2011.
Building is 30 stories out of the ground, to be completed in 2011/12. It’s fairly valued at these levels. Distribution increase expected in 2011.
Dennis Mitchell, CFA
Executive Vice-President & Chief Investment Office, Sentry Select Capital Corp
Price
$16.340
Owned
Yes
BUY
BUY
January 19, 2010
Historically they have made up for their 125% payout ratio through the sale of assets. They went on record that they expect to cover their distribution by the end of the year. They are one of the best teams on the street.
Historically they have made up for their 125% payout ratio through the sale of assets. They went on record that they expect to cover their distribution by the end of the year. They are one of the best teams on the street.
Dennis Mitchell, CFA
Executive Vice-President & Chief Investment Office, Sentry Select Capital Corp
Price
$19.800
Owned
Yes
BUY
BUY
January 19, 2010
Top holding in his fund. Shied away because of Calgary office exposure. Most recently purchased office towers in downtown Toronto, so he has stepped into this issue. Would like to buy in the $24 at the most. Company is marketing across the country and will be in the US next week or month. Don’t buy as a short-term position.
Dream Office REIT (D.UN-T)
January 19, 2010
Top holding in his fund. Shied away because of Calgary office exposure. Most recently purchased office towers in downtown Toronto, so he has stepped into this issue. Would like to buy in the $24 at the most. Company is marketing across the country and will be in the US next week or month. Don’t buy as a short-term position.
Dennis Mitchell, CFA
Executive Vice-President & Chief Investment Office, Sentry Select Capital Corp
Price
$25.720
Owned
Yes
DON'T BUY
DON'T BUY
January 19, 2010
Sold this position. Bearish about this name. He sold at half this price. He continues not to like it because of the excessive leverage. Juicy yield (over distributing).
Whiterock REIT (WRK.UN-T)
January 19, 2010
Sold this position. Bearish about this name. He sold at half this price. He continues not to like it because of the excessive leverage. Juicy yield (over distributing).
Dennis Mitchell, CFA
Executive Vice-President & Chief Investment Office, Sentry Select Capital Corp
Price
$15.640
Owned
No
BUY
BUY
January 19, 2010
Not in his top 10 on valuation. Today, bought Overland Reality Corp. in Nova Scotia with small portfolio of offices, industrial, retail and multi-family. In the past they bought asset from a Quebec REIT and did a tremendous job of leasing the assets and he would expect no less from this transaction. Distribution is sustainable, but they have a number of convertible debentures issues outstanding. As you grow free cash flow and unit price goes up, you trigger these converts and you issue a lot of equity.
Not in his top 10 on valuation. Today, bought Overland Reality Corp. in Nova Scotia with small portfolio of offices, industrial, retail and multi-family. In the past they bought asset from a Quebec REIT and did a tremendous job of leasing the assets and he would expect no less from this transaction. Distribution is sustainable, but they have a number of convertible debentures issues outstanding. As you grow free cash flow and unit price goes up, you trigger these converts and you issue a lot of equity.
Dennis Mitchell, CFA
Executive Vice-President & Chief Investment Office, Sentry Select Capital Corp
Price
$19.750
Owned
Yes
PAST TOP PICK
PAST TOP PICK
January 19, 2010
(Top Pick Feb 12/09, Up 102%) Had tremendous exposure to Calgary so it sold off dramatically before he recommended it. They have done a good in that their offices are not so downtown, single tenant and now they are selling assets at gains and redeploying. Great job of managing balance sheet.
(Top Pick Feb 12/09, Up 102%) Had tremendous exposure to Calgary so it sold off dramatically before he recommended it. They have done a good in that their offices are not so downtown, single tenant and now they are selling assets at gains and redeploying. Great job of managing balance sheet.
Dennis Mitchell, CFA
Executive Vice-President & Chief Investment Office, Sentry Select Capital Corp
Price
$11.710
Owned
Yes