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| STRONG BUY | 18.600 | Michael Smedley | Very high-grade office buildings. Excellent distributions of around 5%. Top class management. | 2010-06-28 | |
| TOP PICK | 18.750 | Michael Smedley | Converted from a corporation into a super quality REIT. More than doubled distribution to 5% and has promised to create great liquidity possibly by selling down. The only “A” grade property company in Canada. | 2010-05-27 | |
| TOP PICK | 20.400 | Michael Smedley | Converting into a REIT. Low cap rate of about 5X because of the absolutely superb quality. The only grade A properties REIT in Canada. 3.67% yield currently, which almost doubles in distributions to about 5%-6%. | 2010-04-29 | |
| BUY on WEAKNESS | 20.400 | Dennis Mitchell, CFA | Converting from a corporation into a REIT and will own all the Canadian assets and developments of Brookfield Properties (BPO-T). Expected to cash flow $1.07 for 2010-2011, which would be 19X free cash flow. This is pretty aggressive on a valuation standpoint. Try to buy under $19. | 2010-04-28 | |
| PAST TOP PICK | 36.000 | Michael Smedley | (A top pick Mar 8/04. Down 7%.) Still likes. Very high quality. Brascan would probably like to take it private. | 2004-05-12 | |
| DON'T BUY | 35.730 | Peter Brieger | Drop in price is probably related to the anticipation of rising interest rates. Once interest rates increases have run their course, will once again look at REITs. | 2004-04-14 | |
| BUY | 35.850 | David Baskin | Has been falling, probably in sympathy with the REITs in the US. This company has terrific assets and might have the opportunity to raise rents more than their financing costs go up. | 2004-04-13 | |
| TOP PICK | 39.400 | Michael Smedley | (A top pick Mar 8/04. No change.) Very high quality Canadian properties. Most of the stock is owned internally. | 2004-03-23 | |
| TOP PICK | 39.450 | Michael Smedley | At a good price. Will probably mark time here for a while. Has a lot of cash. Very high quality assets. | 2004-03-08 |