Today, Andrew Moffs commented about whether SIA-T, DIR.UN-T, FCR-T, CRT.UN-T, SRU.UN-T, REI.UN-T, AX.UN-T, STWD-N, IIP.UN-T, CAR.UN-T, NXR.UN-T, GRT.UN-T, FR-N, CSH.UN-T, BEI.UN-T, MI.UN-T, NWH.UN-T, HOM.UN-T, MEQ-T, CHP.UN-T, ERE.UN-T, AP.UN-T, BDN-N are stocks to buy or sell.
In the income bucket, with dividend yield in high 9% range currently. Well managed, good capital allocator. Could be seeing an increase in transactions, so might gain market share or just benefit from increased volumes. If you hold, you're just looking to capture the spread on interest from making loans. This part of the market is pretty secure, with the sustained commercial recovery underway.
Aims to own the finest grocery-anchored real estate across Canada. High quality. He thinks it's the best globally. 30% discount to NAV. Get paid to wait while the value gap closes. Goal is to grow earnings and NAV by 3% a year for 3 years. Defensive plus growth. Yield is 5.3%.
(Analysts’ price target is $20.11)Industrial, but small- and mid-bay segment. In other words, urban distribution warehouses which are somewhat immune to new supply. 2/3 of the portfolio is in Canada, 1/3 in Europe. In partnership with government of Singapore.
Wide 28% discount to his estimated value in the range of $16.50. Yield is 5.9%.
Very compelling supply/demand fundamentals. Tailwind of seniors' population growth. Retirement portfolio recovering nicely. LTC care segment in Ontario is seeing massive waiting lists. Phenomenal management team. Discount to NAV. On track to higher occupancies. Yield is 6%.
(Analysts’ price target is $18.72)#1 risk has always been oversupply. New supply inhibits the ability to raise rents and attract new tenants. Today, given where interest rates have moved to, it's been prohibitive for new construction.
In the senior living space, both CSH.UN and SIA.UN have taken advantage of this environment, because they already have land where they can develop at a lower cost than competitors.
Sees more upside from here. Occupancy levels have crept back up to over 90%. Fantastic demand profile, over 4% CAGR. New construction is near-low.