| TOP PICK | 20.380 | Sandy McIntyre | (A Top Pick Aug 14/07. Up 3%.) Brick & Beam properties in Toronto, Montreal, Quebec City and Winnipeg. Only utilising about 60% of available density. This gives option value on future space though the next business cycle. 7% yield. | 2008-08-15 | |
| TOP PICK | 19.700 | Paul Harris, CFA | A REIT in Toronto. Bean and brick buildings. Trading at a discount to its NAV. Made a large acquisition in Montreal and some smaller ones in Toronto and have not flowed through their net operating income but should happen in the next year or so. 8.5% yield. | 2008-08-14 | |
| TOP PICK | 21.100 | Dennis Mitchell, CFA | Brick and beam. Continue to source accretive acquisitions and continue to release existing properties at significant spreads. Dominant landowner in the Greater Toronto Area, which will have significant upside value years later. Try to Buy below $21. | 2008-06-12 | |
| PAST TOP PICK | 21.820 | Paul Gardner, CFA | (A Top Pick May 17/07. Up 4%.) A pocket of properties that feed into the small businesses of the world. Got caught in the downwind of all the financial markets. Fantastic management. Rents that are in place look like they will increase. They will add with organic growth 8% to 10% in FFO. Still a Buy. | 2008-05-28 | |
| TOP PICK | 20.250 | Paul Gardner, CFA | Specialize in “brick and beam”. Properties are generally in big cities like Toronto, Montreal and Winnipeg. Have done a really decent job of growing the distribution. Excellent managers. Going forward they are doing a lot more development and intensification. | 2008-04-10 | |
| TOP PICK | 18.200 | Paul Harris, CFA | Has about a 7% yield. Like the real estate market. Made several acquisitions over the last year. Very comfortable with the stock. | 2008-03-20 | |
| TOP PICK | 17.900 | Paul Gardner, CFA | Brick and beam buildings. Likes hard assets. Even though it hasn't performed well, on a relative scale it has done better than other asset classes. This is a great company that adds value to its properties. Have done a good job of increasing their distributions. | 2008-03-10 | |
| TOP PICK | 18.790 | Dennis Mitchell, CFA | Only consolidator in post/beam niche so they are still able to do accretive acquisitions. Good leveraged position. Raised capital last year at over $19 so there is no issue there. Strong free cash flow growth. Excellent management team. Have had distribution increases of about 3.5%-4% for the last 5 years every March. | 2008-02-29 | |
| BUY | 19.120 | Paul Harris, CFA | Have a monopoly on their field, I-class properties, brick and beam buildings. Trades at a price to FFO of about 11X. Yields about 6%. Doesn't trade at a huge discount to its NAV, but what is very important is that the company has made several acquisitions over the last 3 to 6 months which will help increase their NAV. | 2008-02-21 | |
| BUY | 19.440 | Bill Shaw | Brick and beam. Have properties in Quebec city, Montreal, Toronto, Winnipeg and Kitchener. Typically light industrial. Well managed. Good lease rates. Reasonable yield. Trades at about 20% discount to his estimated NAV. | 2008-02-19 | |
| HOLD | 18.740 | Charles Dillingham | Post-and beam older buildings with offices. If the market is going to get very bad, it will have some softness. Have done a very interesting media centre in Montreal. Very well managed and very responsible with their debt and leverage. | 2008-01-18 | |
| BUY | 21.000 | Dennis Mitchell, CFA | Focuses on class I offices (industrial/manufacturing retrofitted). Likes this one a lot. Recently did an acquisition and opened up a new market in Kitchener/Waterloo, so he continues to see significant growth, as they are the only consolidators in this space. Good yield. | 2007-12-07 | |
| TOP PICK | 21.050 | Paul Gardner, CFA | Specialize in the old warehouse buildings in Montreal, Toronto and Winnipeg. They are great developers of these properties. As they get bigger, they could get taken out by a pension plan, et cetera. | 2007-11-21 | |
| WEAK BUY | 20.900 | Charles Dillingham | Extremely well managed. Goes into older building and fix them up into offices. They did do a deal in Montreal, in the Media Centre where they will make a lot of money on that. (Explains the pop).
Only concern is if you think the Canadian economy is in trouble. | 2007-10-29 | |
| TOP PICK | 22.040 | Paul Harris, CFA | Beam and post properties in Toronto. These are spaces that smaller companies can move to. Made some very astute acquisitions, especially one in Montreal that should increase cash flow tremendously. They really have a lock in this market. | 2007-09-27 | |
| BUY | 21.200 | Charles Dillingham | Post-and beam type buildings downtown Toronto, Montreal, etc.. Very good management. A slowdown in the economy could hurt them, but so far they are fine. 6% yield. | 2007-09-14 | |
| BUY | 21.720 | Dennis Mitchell, CFA | Represents good value. Trading at about its NAV with a very good free cash flow yield. Doesn't think a lot of their properties in the Greater Toronto Area will exist as low-rise class I office. A lot of them will be turned into condos or rebuilt as class | 2007-09-04 | |
| BUY | 21.720 | Michele Robitaille | Have a great track record. Focused on the brick and beam type business. Primarily Toronto but expanding to Montreal. | 2007-08-23 | |
| BUY | 20.090 | Dennis Mitchell, CFA | A great name. The only consolidator of Class I office (industrial/manufacturing) in Canada. Good management team. Internal growth has been strong. | 2007-08-16 | |
| TOP PICK | 20.500 | Sandy McIntyre | Brick and beam. Option value on downtown Toronto. They are the dominant landlord in the region which is experiencing very rapid redevelopment. Distribution is safe. | 2007-08-13 | |
| TOP PICK | 21.570 | Paul Gardner, CFA | Specialize in the Brick & Beam structures period they own about 25% of this space in Toronto. Feels they will grow into their FFO measurement. | 2007-07-19 | |
| BUY | 21.650 | Michael Simpson, CFA | Very good REIT. Originally concentrated on the brick and beam buildings in Toronto but have expanded into Quebec and Manitoba. Can see distribution increases over the next several years. 5.8% yield. | 2007-07-04 | |
| BUY | 21.550 | Dennis Mitchell, CFA | Likes it. Likes the management.
Risk is the tenents in the type of buildings they own. | 2007-06-29 | |
| TOP PICK | 21.550 | Paul Harris, CFA | Has lots of properties, in the "coon" position. Rent profile is going up. Good organic growth. | 2007-06-28 | |
| TOP PICK | 22.600 | Charles Dillingham | The whole sector has been under pressure. Post and beam downtown office Toronto and Montreal. The market is tight and there is good demand for all their office space. Good portfolio. Payout ratio of about 89%. Growing and well managed. | 2007-06-20 | |
| TOP PICK | 22.350 | Paul Gardner, CFA | They take old warehouses, retrofit them for office space. Concentrated in Toronto, Vancouver and Montreal. Did a very big acquisition in Montreal. Fantastic management. Very accretive. Growth in income is about 10%. 10% distribution. Good growth potential. | 2007-05-17 | |
| TOP PICK | 22.400 | Paul Gardner, CFA | Industrial complexes. Just made a large acquisition in Montreal. Growth is very favourable. Was a small cap company 3 years ago, will be a billion dollar company in a couple of years. | 2007-05-03 | |
| TOP PICK | 22.390 | Paul Harris, CFA | Pays 6% plus in distributions. Own a lot of beam and post properties. Likes them because it's an alternative from the main core area giving them a very different clientele. Made a big acquisition in Montreal, which has dropped the stock from $24. Great opportunity. | 2007-04-23 | |
| BUY | 21.350 | Charles Dillingham | Just did a secondary issue to buy some Montreal properties. About 3.5 million square feet of post and beam offices. Has been relatively moderate in debt. | 2007-04-11 | |
| TOP PICK | 21.100 | Dennis Mitchell, CFA | The only consolidator of Class I offices, so is able to buy properties at higher cap rates and grow very accretive age. Excellent management. Good price. | 2007-04-03 | |
| TOP PICK | 20.930 | Paul Gardner, CFA | Recently made a major transaction of Montreal and, in the next couple of years, are about to turn themselves into a billion$ company. Fundamentals are fantastic. Debt is very cheap at 5.5% and they are getting 7.5% to 8.5% yield. | 2007-03-19 | |
| BUY | 23.840 | Dennis Mitchell, CFA | Focused on class I office buildings, primarily in Toronto but also in Quebec City, Montreal and Winnipeg. These are buildings that used to be industrial but converted to professional services. | 2007-02-16 | |
| BUY | 22.800 | Andrew Guy, CFA | An interesting REIT in that it has cornered the market in industrial real estate to be turned into attractive properties. Have a very nice portfolio. 5.3% yield and a 10% distribution. | 2007-02-08 | |
| BUY | 22.210 | Dennis Mitchell, CFA | A fantastic REIT. A niche consolidator with no one else in their space. Delivered consistent unit price appreciation. Distribution increases. | 2007-01-19 | |
| HOLD | 20.650 | Dennis Mitchell, CFA | A niche acquirer of Class I office space. Excellent name. Great management. Low leverage. | 2006-11-21 | |
| TOP PICK | 17.340 | Paul Gardner, CFA | Owner of warehouses converted into offices. Own about 37 properties in Toronto and Montreal. Just made a large acquisition into Quebec city. Excellent managers. 98% payout. There is room for distribution growth. | 2006-08-08 | |
| TOP PICK | 16.770 | Paul Gardner, CFA | One of the smaller REITs. Class i buildings, i.e. brick and beam, in the Toronto, Montréal and Quebec areas. They renovate old buildings into office quarters. The payout ratio is hovering around 100% which is a good ratio. Yield is about 7%. | 2005-12-29 | |
| TOP PICK | 16.330 | Charles Dillingham | Older warehouse type properties converted into offices. Pays 7%. Very responsibly managed. Growing by acquisition. Distribution is about 94% of their AFFO so a very sustainable income. | 2005-12-16 | |
| TOP PICK | 14.600 | Charles Dillingham | Markets are acting very nervous, so all his picks tonight are defensive and "real quality". Pays about 8%. Have announced some very good numbers. 99% leased at the moment. Well managed. Conservative. | 2005-05-12 | |
| BUY | 14.000 | Dean Orrico | One of the smaller, if not the smallest, REIT in the market. Have a very boutique type strategy. Focused on the I class buildings. Likes the prospect of growth. | 2005-04-01 | |
| HOLD | 14.700 | Michele Robitaille | Focused on the Toronto market and class B real estate. Have quite a strong niche. Recently announced a plan to expand into the Montreal market. A good little trust. A little bit ahead of itself. Would take some profits if you own. | 2005-03-18 | |
| BUY | 14.650 | Dean Orrico | Have just started buying. A niche player in the REIT area, owning I-class (industrial) properties. Not much competition. Looking to expand geographically in other areas. | 2005-02-25 | |
| BUY | 14.600 | Bill Shaw | Results have been OK. Has been performing fairly steadily. | 2005-02-22 | |
| BUY | 14.850 | Kevin Hall BComm, CFA | A bit of a niche play in the real estate market. They buy loft conversion space and convert it into offices. Mainly in Toronto, but are expanding into Montreal. A lot of growth potential. Have a good leg up on any competition and could see a lot of growth. | 2005-02-04 | |
| BUY | 14.710 | Matt Baillie | A smaller real estate REIT and if you want to get any growth in REITs, you'll have to get into the smaller ones. Very successful in Toronto and now moving into Montreal. Riskier than a lot of the other REITs. | 2005-01-27 | |
| TOP PICK | 14.160 | Blair Wilson | Offers a higher than average yield. Also has an element of growth. Expects distributions to go from $1.14 to $1.18. Has been very effective in growing its portfolio of office space properties. Focused in Toronto, but moving into Montreal as well. | 2005-01-18 | |
Experts that have talked about Allied Properties REIT
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