| DON'T BUY | 7.800 | Dennis Mitchell, CFA | Has had an awful 2 years. Most of their distribution is “return of capital”. New management team is in place. There are other alternatives giving better cash flow. | 2008-08-13 | |
| BUY | 9.540 | Dennis Mitchell, CFA | Long-term care facilities in Canada with skilled nurse facilities in the US. Raised capital that was very dilutive to the stock. Poor quarter with low cash flow generation. 14% free cash flow yield and the distribution is covered. Attractive at these levels but would look to unload around $11. | 2008-06-12 | |
| DON'T BUY | 9.800 | Charles Dillingham | Sector should be wonderful but hardly anybody makes any money. Have a lot of business in the US so he is not touching it here. Some question on what the welfare fees will be. Margins are very small. | 2008-06-02 | |
| BUY | 11.200 | Dennis Mitchell, CFA | A seniors housing REIT. Considered it as a top pick based solely on its evaluation. The payout ratio is very safe. Very large discount to its net asset value. Offers a very attractive entry point at these levels. | 2008-03-24 | |
| BUY | 11.110 | Charles Dillingham | Nursing home area. Good safe, long-term hold. Fairly high yield. Good managers. Expect they will continue to pay their income. | 2008-01-18 | |
| BUY | 11.300 | Dennis Mitchell, CFA | Owns a small piece as a trading position as it is at a large discount to end its NAV. When it comes back, he will sell it out. | 2008-01-14 | |
| PAST TOP PICK | 12.340 | Dennis Mitchell, CFA | (Top Past Pick Dec 22/06. Down 16.4%.) Sold off earlier this year at a profit. Still a good name and represents tremendous value at these levels. 8.9% and distribution is safe. | 2007-12-07 | |
| BUY | 14.840 | Ben Cheng | Have been doing a very good job. Their long-term care facilities are providing a good base going forward and will help sustain distributions as well as acquiring other businesses. | 2007-09-05 | |
| PAST TOP PICK | 14.450 | Dennis Mitchell, CFA | (A Top Pick Nov 21/06. Down 4.8%.) Still likes. Still very under levered. Good consolidation space. | 2007-08-16 | |
| DON'T BUY | 14.620 | Michael Sprung | Could be fairly attractive at this price. In a good market with steady income. There is no clarity on what the taxable effect is on whether they are a real estate company or an operating business. Until this is cleared up, it is hard to come up with a model of a price that you are willing to pay. | 2007-08-10 | |
| WAIT | 15.550 | Charles Dillingham | Primarily retirement/nursing homes. Got out when the market started looking very vulnerable. Probably pretty good value at these levels. 7.1% yield. Would wait until their next earnings report comes out on Aug 2nd. | 2007-07-23 | |
| Comment | 16.880 | Charles Dillingham | Largely government financed as they are in the high nursing, high care. Won't qualify as a REIT. | 2007-05-07 | |
| PAST TOP PICK | 16.000 | Dennis Mitchell, CFA | (A Top Pick Nov 21/06. Up 5.8%.) Very attractive value at these levels. | 2007-04-03 | |
| BUY | 16.580 | Gavin Graham | The retirement home business has been dreadful. Have built out 20,000 extra beds in Ontario. Operational earnings look much better. Could be a takeout. | 2007-03-26 | |
| TOP PICK | 16.950 | Kevin Hall BComm, CFA | Involved in long-term care in nursing homes, 70% US and 30% Canada. Reasonably priced. Good growth prospects. | 2007-03-09 | |
| PAST TOP PICK | 18.380 | Dennis Mitchell, CFA | (A Top Pick Dec 22/06. Up 24.7%.) Still likes, but wouldn't add at these levels. | 2007-02-16 | |
| PAST TOP PICK | 16.270 | Dennis Mitchell, CFA | (A Top Pick Nov 21/06. Up 7.4%.) Likes the acquisition metrics. Skilled nursing/long-term care facilities can be acquired at 10 or 12 cash flow yield whereas cost of capital is about 6.5%-7% range. Very low debt. | 2007-01-19 | |
| TOP PICK | 14.760 | Dennis Mitchell, CFA | Seniors’ housing. In the US they focus on skilled nursing facilities and in Canada on long-term care facilities. Recently spun out Assisted Living (ALC-N) and will spin out Crown, hopefully early in the new year. Under $15.50 it is definitely a strong Buy. | 2006-12-22 | |
| WEAK BUY | 15.000 | Charles Dillingham | Spin off from Assisted Living Concepts (ALC-N) in the US. 7.4% yield. Trying to establish a base. Expect to gradually improve, but no huge returns for now. | 2006-12-08 | |
| TOP PICK | 15.130 | Dennis Mitchell, CFA | Seniors housing space. Peers operate at 50/60% leverage to book value of assets. They are at 30/40%, which means they will be able to acquire properties largely with debt and very little cost of capital, but high tax flow yields on property. And external acquisition story. | 2006-11-21 | |
Experts that have talked about Extendicare REIT
Rss Top Picks Feed