Latest Expert Opinions

Signal
Opinion
Expert
BUY
BUY
September 24, 2013

They are trying, from humble beginnings, to become a blue chip REIT. They want to maintain proper debt levels, proper governance, proper structure and proper payout. Disadvantage is that they are very small right now and in order to grow through acquisitions, they are somewhat stuck while they wait for the equity markets to recover. Until then, you’re getting a safe yield. Good management team. 8.6% yield.

Slate Office REIT (SOT.UN-T)
September 24, 2013

They are trying, from humble beginnings, to become a blue chip REIT. They want to maintain proper debt levels, proper governance, proper structure and proper payout. Disadvantage is that they are very small right now and in order to grow through acquisitions, they are somewhat stuck while they wait for the equity markets to recover. Until then, you’re getting a safe yield. Good management team. 8.6% yield.

Derek Warren
Asst Vice President, Lincluden Investment Mgmnt
Price
$8.710
Owned
Unknown
BUY
BUY
September 24, 2013

This one holds only 4 assets in France and Germany. This is an opportunity to pick up some strong yield, while you are waiting for a European recovery. He sees more and more large investors, such as pension funds, going into Europe and buying up office buildings. Company is small and illiquid so it can be more volatile. Yield of 9% is sustainable. Average daily volume is only 14,000 so if buying, don’t put in a market order.

Inovalis REIT (INO.UN-T)
September 24, 2013

This one holds only 4 assets in France and Germany. This is an opportunity to pick up some strong yield, while you are waiting for a European recovery. He sees more and more large investors, such as pension funds, going into Europe and buying up office buildings. Company is small and illiquid so it can be more volatile. Yield of 9% is sustainable. Average daily volume is only 14,000 so if buying, don’t put in a market order.

Derek Warren
Asst Vice President, Lincluden Investment Mgmnt
Price
$9.050
Owned
Yes
BUY
BUY
September 24, 2013

Currently this is a Corporation, but will become a REIT soon. They recently took over Keyreit, which was a REIT where he did not like management but was crazy about the assets. Has always liked Plazacorp because of their great development experience. This gives you development upside, nice dividend that will be increased when they become a REIT, plus they have continuously grown their dividend. Yield of 5%.

Plaza Retail REIT (PLZ.UN-T)
September 24, 2013

Currently this is a Corporation, but will become a REIT soon. They recently took over Keyreit, which was a REIT where he did not like management but was crazy about the assets. Has always liked Plazacorp because of their great development experience. This gives you development upside, nice dividend that will be increased when they become a REIT, plus they have continuously grown their dividend. Yield of 5%.

Derek Warren
Asst Vice President, Lincluden Investment Mgmnt
Price
$4.500
Owned
Yes
BUY WEAKNESS
BUY WEAKNESS
September 24, 2013

All of its assets are in Germany and you have a juicy yield. Not all of their assets are of the quality that he likes to see but they have been culling this slowly. He was very pleased with their new acquisitions. He would look for a little bit of a pull back, so that you can get in cheaper. Yield of 8%.

Dream Global REIT (DRG.UN-T)
September 24, 2013

All of its assets are in Germany and you have a juicy yield. Not all of their assets are of the quality that he likes to see but they have been culling this slowly. He was very pleased with their new acquisitions. He would look for a little bit of a pull back, so that you can get in cheaper. Yield of 8%.

Derek Warren
Asst Vice President, Lincluden Investment Mgmnt
Price
$9.550
Owned
Unknown
COMMENT
COMMENT
September 24, 2013

Have been showing 7% organic growth, which is fantastic. Very well managed. They are in Calgary, Montréal, Toronto, Vancouver and Winnipeg. A long-term Hold at any time. 4.1% yield.

Have been showing 7% organic growth, which is fantastic. Very well managed. They are in Calgary, Montréal, Toronto, Vancouver and Winnipeg. A long-term Hold at any time. 4.1% yield.

Derek Warren
Asst Vice President, Lincluden Investment Mgmnt
Price
$32.350
Owned
Unknown
COMMENT
COMMENT
September 24, 2013

Great company. Were very early in buying single-family homes in the US and renting them out. That is not their core business, so when it is time to sell, they sell. Have also been buying up tracts of land in key spots in the US and doing housing development. Recently hired a well regarded CFO. Have a lot of institutional investors going along with them. 3.4% yield.

Tricon Capital Group (TCN-T)
September 24, 2013

Great company. Were very early in buying single-family homes in the US and renting them out. That is not their core business, so when it is time to sell, they sell. Have also been buying up tracts of land in key spots in the US and doing housing development. Recently hired a well regarded CFO. Have a lot of institutional investors going along with them. 3.4% yield.

Derek Warren
Asst Vice President, Lincluden Investment Mgmnt
Price
$7.010
Owned
Yes
COMMENT
COMMENT
September 24, 2013

Gives you exposure to the apartment market. In an inflationary environment, they have the tendency to appreciate with that because they can adjust their rents quickly. There are others that he prefers such as Killam Properties (KMP-T) and Cap REIT (CAR.UN-T). 8.5% yield. (See Top Picks.)

Gives you exposure to the apartment market. In an inflationary environment, they have the tendency to appreciate with that because they can adjust their rents quickly. There are others that he prefers such as Killam Properties (KMP-T) and Cap REIT (CAR.UN-T). 8.5% yield. (See Top Picks.)

Derek Warren
Asst Vice President, Lincluden Investment Mgmnt
Price
$8.150
Owned
Unknown