BUY

He is a great fan of this. The one interesting thing about the asset management business is that it is less interest rate sensitive. As interest rates go up, this has an opportunity to outperform the REITs. This is his largest holding. On a dip like this, it is an opportunity to accumulate.

COMMENT

Has been an excellent, excellent story. It is probably one that he should have, but doesn’t. This is US apartments and pays in Cdn$. The growth of the apartment market in the US has been fantastic. They just did a stock issue.

COMMENT

Has a more direct exposure to Fort Murray and Lloyd Minster, so they have seen pressure, and there may continue to be some weakness. Occupancy in those specific markets will continue to be low. What has saved them is there excellent balance sheet and having low debt. The company is in good condition. This is an opportunity to buy if you want to make a call on oil.

COMMENT

Likes this company. Their most recent quarter showed a slight little bit of weakness, and this is mostly because of weather. There might be a bit of an opportunity this year, because this REIT has is some very interesting developments that they have been doing, and another pipeline coming up over the next couple of years of opportunities to significantly grow cash flow, as they have been able to acquire apartments in the Ottawa area.

TOP PICK

People have been concerned about the retail business right now, however none of those issues affect this company. They are coming in with a Wal-Mart (WMT-N) anchor. This is an opportunity to buy a very, very stable cash flow. They have internalized their development programs. Have a fully internalized management with an internal development program that will now be able to continue to expand across Canada in Wal-Mart anchored centres and possibly in the US over time. Dividend yield of 5.37%.

TOP PICK

In spite of the oil problems, numbers came out recently and they were fine. People living in Calgary will continue to live there, and perhaps are more inclined to continue renting an apartment as opposed to buying a house. This is a real opportunity to buy one of Canada’s top-performing REITs. Dividend yield of 5.83%.

TOP PICK

Listed here, but has US operations. He likes $0.80 dollars. Whenever there is an extra layer of complication it is often an opportunity. This one being a small cap in a cross-border structure was just enough to make a few investors question it. That was a tremendous opportunity. The stock is very cheap. He thinks this is worth $5.70 in US dollars. Yield of 7.4%.