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| Comment | 10.720 | Michael Simpson, CFA | Real estate consulting including tax work and appraisals. Key driver going forward will be as countries, including Canada, adopt the international financial accounting standards. Real estate will have to have annual appraisals and this is one of the big appraisers. Has grown rapidly through acquisitions. Prices getting to a level where it is more attractive. | 2008-11-20 | |
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| BUY | 18.250 | Dennis Mitchell, CFA | (Market Call Minute.) This is a Buy, but sentiment might work against you in that this is a service-oriented business with very little assets. Cash flow generation is strong and their ability to acquire is great. 6.6% yield is safe. | 2008-01-14 | |
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| TOP PICK | 15.060 | Chris Rankin, MBA, CFA | The company does real estate services eg. property taxes, evaluations etc. The demand profile looks fantastic. The company just bought a large, busines property in the UK. The company will benefit when the banks are doing evaluation of assets. | 2007-10-19 | |
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| PAST TOP PICK | 13.650 | Jean-Francois Tardif | Then at $14.73
First quarter results are very well. He likes the CEO. Not a short term story, and feels it will do well for years to come. | 2007-05-22 | |
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| PAST TOP PICK | 12.350 | Jean-Francois Tardif | (A Top Pick May 1/06. Down 17.9%.) Picked it because of the very driven CEO. Sold his holdings at $15 before it got hit with the government’s changes. If you own, Hold. | 2007-04-27 | |
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| TOP PICK | 12.500 | Chris Rankin, MBA, CFA | Provides valuation, appraisal and cost estimating services to the real estate industry. All of these fields have a good demand profile. | 2007-02-09 | |
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| BUY | 10.680 | Sandy McIntyre | A very creative and energetic management team. Provide services to the real estate industry. Have some very creative long-term projects, which will be used to track costs in buildings, rentals, cash flows, etc. Very good price. | 2006-12-29 | |
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| Comment | 10.360 | Jean-Francois Tardif | Had sold before Oct 31 because a large part of their business was in services in Alberta and he was worried. Extremely well managed. Will get much bigger over time through both acquisition and internal growth. Good price, but he may wait for the 4th quarter results. | 2006-12-27 | |
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| BUY | 10.740 | Dennis Mitchell, CFA | Focused on high yielding commercial real estate type plays. Has enduring franchise value. | 2006-12-22 | |
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| PAST TOP PICK | 10.200 | Ben Cheng | (A Top Pick May 19/06. Down 25.7%.) Continues to put up very good earnings numbers, which should continue. Good growth in western Canada. | 2006-12-01 | |
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| PAST TOP PICK | 13.810 | Jean-Francois Tardif | (A Top Pick June 5/06. Down 5%.) Survey business in Alberta. At risk because of some soft quarters coming up. Likes the company, but doesn't see any growth so sold his holdings. 8.5% yield. | 2006-10-26 | |
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| PAST TOP PICK | 15.380 | Jean-Francois Tardif | (A Top Pick June 5/06. Up 2%.) A growth company. Consulting business. Recently started acquiring more businesses. Have made very key acquisitions lately. | 2006-08-08 | |
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| TOP PICK | 14.730 | Jean-Francois Tardif | They provide valuations for real estate. Have just bought 3 companies in Alberta. Expect there will be a big jump in earnings and distributions next year. | 2006-06-05 | |
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| TOP PICK | 14.000 | Ben Cheng | Provide consulting services on real estate development, tax, lending opportunities, etc. Have grown by almost 20% per year over the last 4 years. | 2006-05-19 | |
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| TOP PICK | 15.050 | Jean-Francois Tardif | Just announced a large acquisition in Alberta. Pre acquisition, his expected 1.5 X earnings based on cash flow of around $1.30. Convinced the acquisition will be accretive which could mean $1.40/$1.50. | 2006-05-01 | |
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| BUY | 13.650 | Ravi Sood | A very spectacular performer. Operating results have been excellent. Because of the small capitalisation, large institutions tend not to own this. Thinks there is potential for continued distribution increases. Good price. | 2006-02-10 | |
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| TOP PICK | 13.100 | Jean-Francois Tardif | This company is still not very well known and not well covered by the street. Expect they will be very active in acquisitions during 2006. Every transaction they do in 2006 will be accretive. It is estimated that they will make $1.50 of distributable income per share. The stock is trading below 10 X and he feels it should trade at 12 X. | 2005-12-23 | |
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| PAST TOP PICK | 12.060 | Jean-Francois Tardif | (A Top Pick Sept 21/05. Up 2.3%.) Held up well considering all that happened to trusts in the last few months. Will be aggressive on acquisitions. Thinks they will make $1.20/1.30 per share next year. | 2005-11-29 | |
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| TOP PICK | 11.730 | Jean-Francois Tardif | A lot of free cash flow and will continue to grow over time. Feels they will be ahead of expectations by 20% at the end of the next quarter. a good chance of an increase in distributions. | 2005-09-21 | |
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| TOP PICK | 12.200 | Jean-Francois Tardif | Expects them to make accretive acquisitions. Just 45 days old and is already 25% higher. Distributions will be increased. | 2005-08-17 | |
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| PAST TOP PICK | 12.250 | Jean-Francois Tardif | (A Top Pick June 1/05. Up 7%.) Company is very small but growing fast. Basically a consulting company in real estate doing valuations, real estate taxes, etc. | 2005-07-18 | |
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| BUY | 11.500 | Patrick Kim | An excellent business fitting that model of having good market share. A healthy business that's growing. | 2005-06-10 | |
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| TOP PICK | 11.100 | Jean-Francois Tardif | Small, but very profitable company. 75% of their business is evaluation of real estate. Will be making acquisitions. Feels that distributions will grow at least 10/20%. | 2005-06-01 | |
Experts that have talked about Altus Group Income Fund
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