A real estate manager with over $2 billion worth of a wide range of properties in the US. Everything from single family homes to some lower cost properties. Has a decent dividend. He likes this company. Has underperformed recently and is not sure if this is just going down with the real estate sector or something to do with the oil prices. Vacancy rate is well under 10% for their properties.
Thinks oil is close to a bottom and you can start picking your favourites out, but he would not be buying oil/gas companies right now. We still have an extended period of time, maybe the rest of the year, before we have a sustained movement up. This is not a bad company and has a decent track record, but these companies are not making money.
They have more and more operations trying to ship LNG out of the West Coast of the US. Nothing wrong with the company. This has been lumped in with the energy sector, so seems to have been hurt by that comparison. Have long “take or pay” contracts, so the operations are very stable. Prefers Inter Pipeline (IPL-T). Great yield of 6.25%.
Markets. We are in a lower growth environment and people are going to have to ratchet their expectations down. The Canadian market has been dramatically affected by the oil price, not only affecting the auto sector, but bank stocks as well. Thinks we are in to a new era where we have a lower growth. We are in an aging demographic where people are saving more. He loves dividend paying stocks. Rather than the volatility, he prefers more of the good old steady Eddie, and dividends are a big focus for him. Likes technology for finding safe value companies, especially in the US.