Rss Top Picks FeedRss Daily Feed| Click Here to receive daily reports of the TOP PICKS OR your personal stock choices | STOCKCHASEWhat the experts are saying! |
| There are 5 registered members and 64 guests viewing the site. | Follow us on Twitter | Rss Top Picks Feed | Rss Daily Feed |
|
| TOP PICK | 23.150 | Charles Dillingham | Low multiple of 15 or 16. Payout ratio of only 75%. Very good quality. Long-term hold. | 2012-02-10 | |
| TOP PICK | 23.390 | Christine Poole | The Bow in Calgary is essentially almost complete and should have full occupancy by year-end. Save, defensive, high-quality REIT. Over 98% occupancy so has good earnings visibility and she knows that 4.7% distributions will be increasing as occupancy ramps up. | 2012-02-08 | |
| PAST TOP PICK | 23.100 | Hank Cunningham | (A Top Pick May 19/11. Up 7.22%.) 5.196% bond maturing Feb 3/15. Likes the company overall. | 2012-01-30 | |
| TOP PICK | 23.100 | Hank Cunningham | 5.9% convertible bond during June 30/20. Underrated so carries a little bit more risk but still gets paid ahead of the common. Yields about 75 more basis points than the underlying dividend on the common. | 2012-01-30 | |
| PAST TOP PICK | 23.420 | Gavin Graham | (A Top Pick Feb 7/11. Up 17.97%.) All of the REITs have done well. Diversified between office, industrial and retail. | 2012-01-13 | |
| TOP PICK | 23.200 | John O'Connell, CFA | 4.75%. Recovered nicely from a near-death experience. Have repaired their balance sheet. Have room to grow distributions over time. Have full price escalation on a lot of their big projects. | 2012-01-09 | |
| TOP PICK | 23.390 | John O'Connell, CFA | Almost 5% yield. About 98% occupancy. Most of their clients have credit ratings that are better than theirs. | 2011-12-08 | |
| PAST TOP PICK | 23.250 | Dennis Mitchell, CFA | (Top Pick Nov. 17/10, Up 27.27% Total Return) Externally managed and management is compensated according to assets under management. One concern is that they ventured into the US and got a large asset on Long Island. | 2011-12-05 | |
| TOP PICK | 22.480 | Gavin Graham | Built the Bow office building in Calgary and hadn't locked in the tenant before the financial crisis hit. Raising its dividend by $.20 over the next year. | 2011-11-18 | |
| BUY | 22.210 | Charles Dillingham | Excellent company. This one is closest to a bond in the business. Tend to have long-term leases. Just did a major stock issue. Very low payout ratio. 5% yield. | 2011-11-16 | |
| DON'T BUY | 20.410 | Charles Dillingham | Still have to finance their Calgary Bow building at some point. That will be an issue hanging over them until they figure out what to do. Brought the distribution way down but are gradually bringing it up. Good long term leases. Income level is at its lowest right now, so not terribly exciting. 5% yield. | 2011-10-18 | |
| WEAK BUY | 19.950 | Paul Gardner, CFA | Excellent managers. Stock price has fallen more than rest of sector. More with development side so there is a feeling you will see some softness. | 2011-10-11 | |
| Comment | 21.540 | Jeffrey F. Olin | Got into trouble a couple of years ago with the BOW building in Calgary but this is going to prove to be a home run. You can count on the distribution. Not enough ownership by the principals. | 2011-09-26 | |
| BUY | 21.800 | Charles Dillingham | Payout ratio is extremely low and they are low on debt. In the past, they were the closest to being a bond because of very long-term leases with an edging up of the rents. Will be increasing their distributions for a while. | 2011-08-12 | |
| BUY | 20.950 | Dennis Mitchell, CFA | Recently purchased a $400 million office building in Long Island with a long-term lease. Compelling value at these levels. | 2011-08-04 | |
| PAST TOP PICK | 21.070 | Charles Dillingham | (A Top Pick June 18/10. Up 34.65%.) | 2011-07-18 | |
| Comment | 21.590 | Paul Gardner, CFA | The Bow in Calgary is pretty much completed and they will be leasing it out at full value. The recovery has been embedded in the stock price. Doesn't say much capital gains but the 5% yield is good for a conservative play. | 2011-07-04 | |
| PAST TOP PICK | 21.640 | Rick Stuchberry | (A Top Pick July 2/10. Up 33.31%.) You can still buy this one on dips. It has some growth in it. Don't chase the REITs. | 2011-06-30 | |
| PAST TOP PICK | 21.550 | David Burrows | (Top Pick Jun 28’10, Up 34.58%) This is the biggest weighting of REITs in his portfolio. Average of 99% occupancy. Can raise capital at 4.5%, gets 5% yield with a little bit of growth. 3% cash flow growth. Core position. Won’t sell any time soon. Cheap relative to US REITs. | 2011-06-28 | |
|
| |||||
| TOP PICK | 21.770 | Michael Decter | Feels it trades at quite a discount to its peers. Just in the finishing stages of the big complex they bought in Calgary. This company has very high occupancy rates, good growth and a lot of projects in the pipeline. 4%+ dividend. | 2011-06-27 | |
| TOP PICK | 20.990 | Hank Cunningham | 5% due Dec 1/18. Attractive yield. Starting yield higher than Government of Canada means it is likely to have a positive rate of return in the next 12 months. This one is undervalued in the bond market. | 2011-06-15 | |
| BUY | 20.590 | Sandy McIntyre | The most tax efficient income he can deliver to his unit holders. He always looks for free cash flow in a business. REITS have had a good recovery off the bottom but are not back all the way. 8-12% returns over the next year. | 2011-06-08 | |
| PAST TOP PICK | 21.900 | Dennis Mitchell, CFA | (A Top Pick April 28/10. Up 35.48%.) Good quality name. | 2011-05-26 | |
| TOP PICK | 22.150 | Hank Cunningham | 5.196% bond maturing Feb 3/15. Good company and their bonds trade at about 1.5% higher than Govt of Canada. As Govt yields rise, the returns will still be positive because the term is so short and the starting yield is higher than the Govt. | 2011-05-19 | |
| VAGUE | 22.270 | Paul Gardner, CFA | H&R Reit gives about a 6% yield. Trades about 14x which is expensive.They have really good assets. They like the company and they have decent management. They own the bonds in their portfolios but have found better stories in their equity. In general most Reits will give you a dividend and a couple of percentages ,maybe 8 or 9 % this year. | 2011-05-17 | |
| TOP PICK | 21.070 | Dennis Mitchell, CFA | (A Top Pick April 28/10. Up 27.64%.) Office and a little bit of industrial. Probably worth $20-$25. One of the best quality names. Long term leases. Long term debt. | 2011-04-20 | |
| PAST TOP PICK | 21.380 | Michele Robitaille | (A Top Pick Nov 25/09. Up 67.23%.) High quality REIT. Big Bow project problems in Calgary are basically behind them. Will come on towards the end of this year with an Encana (ECA-T) lease. This is the only REIT with a visible distribution increase and have increases slated for the next 6 quarters. Still a Buy. | 2011-04-08 | |
| TOP PICK | 21.270 | Paul Gardner, CFA | 5.196% Bonds due Feb 3/15. In bonds, still thinks there’s value in the real estate sector and you get a extra 150 to 200 basis points. | 2011-04-05 | |
| TOP PICK | 21.400 | Gavin Graham | Have advised that payout is going to go up on a steadily appreciating basis over the next 2 years. A well financed REIT allowing them to buy good properties and get the spread. | 2011-04-04 | |
| BUY | 21.380 | Charles Dillingham | They will gradually increase distribution. They still have this huge development in Calgary and will have to sell half. They have been the closest thing to a bond for years. They have been burned and frightened badly once so they will be careful about raising the distribution too much. | 2011-03-22 | |
| WAIT | 20.600 | Charles Dillingham | Has been evolving in a very good manor. As close to a bond as any of the REITS. They have long-term leases and responsible debt. Were caught a number of years ago with Bow Valley. That turned out to be the wrong time. They cut their distribution and now they have come back. Low payout ratio. A little pricey right now. Sold a week ago because the market seemed a little high. It is a quality name. | 2011-03-10 | |
| TOP PICK | 20.630 | Gavin Graham | Enormous drop in stock price was because they didn’t lock in their financing on their major project, the Bow in Calgary, which is now 94% complete.. Will be having a 25% increase in their 4.4% dividend. | 2011-02-07 | |
| PAST TOP PICK | 20.570 | Hank Cunningham | (A Top Pick Feb 25/10. Up 7.11%.) Bond 5.196% 02/03/2015. | 2011-02-03 | |
| WEAK BUY | 20.000 | Jeffrey F. Olin | Large cap, enjoys substantial liquidity. Good run. Strong management. Not the most aligned because it is externally managed, which he doesn’t like. Thinks you will see an increase in the distribution. | 2011-01-18 | |
| BUY | 19.750 | Ben Cheng | Expecting surprises on the upside with performance in the neighbourhood of 15%-20% over the next 12 months. BOW tower in Calgary makes up a good deal of the gross leasable area. Will probably continue to make acquisitions and possibly partner with someone on the Bow Tower.. | 2011-01-11 | |
| TOP PICK | 19.070 | Dennis Mitchell, CFA | Will start delivering floors to Encana next year (July) and finish in 2012, cash flowing at that point and will boost H&R’s value then. You are getting a name with average 11-year leases and average 8 years debt duration. Almost a corporate bond. Long duration cash flow and almost a 20% total return. | 2010-11-17 | |
| BUY | 20.560 | Jeffrey F. Olin | Large cap, high quality REIT. Were in the penalty box but have come back a long way. External management, which he doesn’t like. | 2010-11-05 | |
| TOP PICK | 20.720 | Hank Cunningham | Convertible debt at 5.9% maturing June 30/20. Current yield is almost 2% more than the underlying equity pays. Likes the REIT sector as well as this particular company. | 2010-10-28 | |
| Comment | 19.600 | Peter Brieger | Government has indicated no interest rate increases for the better part of a year and, if so, some of the REITs are going to be great holds because of the yield. This one would be the top of his list. If you buy at now, be nimble as you may have to get out in a hurry as it is interest rate sensitive. | 2010-09-21 | |
|
| |||||
| PARTIAL SELL | 19.200 | Paul Gardner, CFA | They were caught offside with the Bow building in Calgary when there were a lot of vacancies and financing had seized up. Recently retired expensive financing so there is no liquidity problem. Have great properties. Has had a good run so if you own, consider shaving. | 2010-09-01 | |
| Comment | 18.180 | Jeffrey F. Olin | Extremely high-quality REIT. Strong management but not as aligned as he would like. Prefers management that owns a lot of units and are internal. Reasonable yield with the prospect of a distribution increase over the next 12-24 months. Trading in the range of its NAV. | 2010-07-28 | |
| TOP PICK | 17.790 | Hank Cunningham | 5.196% bond maturing Feb 3/15. Likes the company as an equity. The bond yields more than a lot of the conventional investment grade bonds. | 2010-07-21 | |
| BUY on WEAKNESS | 17.550 | Dennis Mitchell, CFA | Cut their distribution in half a couple of years ago and have released a schedule on the increases from $.72 to $1.06 over the next 2 years. You can buy at this level for single-digit returns. | 2010-07-15 | |
| TOP PICK | 16.920 | Rick Stuchberry | Great defensive stock and probably one of the top REITs in Canada. Have announced they are going to increase their distribution each quarter for the next 2 years. Great portfolio across Canada. Should do very well when Encana Tower in Calgary is completed. Current market will give you plenty of opportunities pick away on Dips. 5% yield. | 2010-07-02 | |
| TOP PICK | 16.830 | David Burrows | Strong thirst for yield by investors now. Multi-type property landlord including industrial, retail and office. About 99% occupied. Yield of about 5%. Only paying out about 5% of their profit. Expect between now and 2012 they will increase their distributions by 45%. | 2010-06-21 | |
| TOP PICK | 16.420 | Charles Dillingham | He has been in and out of this one. These guys are good. They imploded. He’s staying in now. Encana is their tenant. They created a large amount of money on that deal. Good long-term investment. Good chance of a distribution incrase. | 2010-06-18 | |
| TOP PICK | 16.780 | Charles Dillingham | Concerned that there will be a slow economy and this one has its payout ratio down to about 50% and their debt is moderate. Building up cash. Still have to finish the Bow building in Calgary. Have announced they are going to gradually bring the distribution up in 8 moves. | 2010-05-17 | |
| BUY | 17.170 | Nick Majendie | Good price and he can see good distribution increases over the next couple of years. | 2010-05-04 | |
| TOP PICK | 16.900 | Dennis Mitchell, CFA | Developing Encana (ECA-T) head office in Calgary. They have the option to sell half. There are rumblings that they could increase their distributions later this year. | 2010-04-28 | |
| BUY | 17.010 | Charles Dillingham | H & R Real Estate (HR.UN-T) or RioCan (REI.UN-T)? H & R has done very well while RioCan has under performed. Because H & R had to cut distributions (now 4.2%) because of debt, they will likely raise distributions. In very good shape. RioCan overpays on distributions so are under a bit of a cloud. Both are okay and you are not wrong either way. | 2010-04-15 | |
| BUY | 17.010 | Peter Brieger | Under pressure because of difficulties in financing the Bow project in Calgary. Have now solved this by cutting distributions in half. Looking down the road 2-3 years, he likes it. Only 35% of its distribution is subject to full tax rates. | 2010-04-15 | |
| Comment | 16.870 | Paul Gardner, CFA | Debentures. Well managed company with exposure to large office complexes and geographically diversified. REITs will benefit as income trusts have to convert to corporations and people are looking for yield. | 2010-04-01 | |
| BUY | 16.000 | Charles Dillingham | Had a lot of trouble with the Bow building in Calgary but now have that all taken care of. Payout ratio is phenomenally low. Barring any major surprise, a very safe holding and the income is highly likely to rise. Long-term leases. | 2010-03-19 | |
| Comment | 16.530 | Dennis Mitchell, CFA | Qualifies as a REIT under current regulations so will not have to convert. Worth $17 now but if they sell 50% of the Bow tower in Calgary this could change. | 2010-03-17 | |
| Comment | 16.770 | Peter Brieger | They were beaten up because of the Bow project in Calgary and fears of their ability to finance it and this is now in the background.. Because it is a REIT, it will be exempt from having to change in 2011. If interest rates go up, any interest sensitive stock will be under pressure and this would be the one caveat against buying it. | 2010-03-12 | |
| TOP PICK | 16.040 | Hank Cunningham | Bond 5.196% 02/03/2015. He likes the company and the management. They survived the credit crisis. Likes the REIT and the REIT model. A lot higher than bank bonds are paying. This is what people should expect from the bond market. | 2010-02-25 | |
| BUY | 16.310 | David Baskin | Has come back nicely but still has some room to grow. Good yields. | 2010-02-08 | |
| HOLD | 16.340 | Dennis Mitchell, CFA | Building is 30 stories out of the ground, to be completed in 2011/12. It’s fairly valued at these levels. Distribution increase expected in 2011. | 2010-01-19 | |
| BUY | 16.010 | Robert Lauzon | Had a bit of a credit issue on their balance sheet because of the Bow building in Calgary but that has all been fixed. Encana (ECA-T) is their main tenant. Asian investors are starting to buy real estate. For long-term investors that need yield this is a good holding. Won't have to convert. | 2010-01-06 | |
|
| |||||
| BUY | 14.550 | Sandy McIntyre | Financing is now in place. Long-term assets with long-term leases. Good long-term hold. | 2009-12-14 | |
| TOP PICK | 13.450 | Nick Majendie | Made a major bet on the Bow office building in Calgary, which bit them when it wasn't properly financed. Still suffering from valuation on the overhang. Once cash flow starts coming in 2012 there will be a hefty rise in distributions which will give you 9%-10% on today's prices. | 2009-12-09 | |
| TOP PICK | 13.450 | Michele Robitaille | Steady, stable, high-quality REIT. Now benefited from clarification of the financing on the Bow in Calgary. Steady and stable yield should continue. | 2009-11-25 | |
| PAST TOP PICK | 13.580 | Ben Cheng | (A Top Pick Dec 8/08. Up 62.69%.) | 2009-11-20 | |
| TOP PICK | 12.550 | Rick Stuchberry | This is the yield play. Had some problems in Calgary with the new development but once the building is completed he expects distribution increases. Won't be for a few years but he will be patient with 5%. Very conservatively run company with a very low pay out. | 2009-11-12 | |
| TOP PICK | 12.850 | Glenn MacNeill, P.Eng. | Stable group of properties. Knowledgeable management. Biggest project is the Bow in Calgary but they do have the cash to complete it. Thinks management could sell a portion of the Bow Tower to a pension fund and distribution could go up. 5.6% distribution is very safe. | 2009-11-06 | |
| Comment | 13.430 | Peter Brieger | Recently sold half his position as he saw the momentum coming out of the trust. He may even sell the other half. It has had a good run and there are other things he would like to invest in. | 2009-10-01 | |
| HOLD | 13.290 | Peter Brieger | 2009-09-10 | ||
| Comment | 13.120 | Charles Dillingham | They were very seriously challenged with the Bow building in Calgary and probably lost $200-$300 million on the value of it so far. Have recovered significantly and brought their payout ratio way down and is now very low. Yield of about 5%. Danger of a yield cut is minimum. | 2009-09-03 | |
| DON'T BUY | 13.150 | Prakash Hariharan | Has had a good run, decent run. Look at cap rates with Reits. Sees a lot of upside in the REIT space. They had made bad decisions earlier. They have gone past it. Take profits. | 2009-08-18 | |
| BUY | 12.390 | Steven Conville | (Market Minute) A sector that he is really looking at. Happy that when it hits its lows that it has bounced back. Gives him confidence | 2009-08-17 | |
| DON'T BUY | 13.110 | Paul Gardner, CFA | Couldn't secure financing for their Bow building in Calgary until recently but it was expensive. Turn the business around slightly by selling some assets. 5.4% yield is pretty safe. Going forward, the office market in Calgary is going to be soft. | 2009-08-12 | |
| DON'T BUY | 13.780 | Charles Dillingham | Were at risk but cover themselves with some very expensive debt. Wouldn't expect a lot more from this level. Lost quite a lot of money on their Calgary Bow building. Also have some problems in the US. Have done a great recovery and are probably okay. | 2009-08-10 | |
| HOLD | 13.060 | Peter Brieger | Finances are getting into shape and going forward, people looking for income, will be looking at stocks like this as inflation protection. Thinks the 5.6% distribution will go back up. | 2009-08-05 | |
| STRONG BUY | 11.620 | Dennis Mitchell, CFA | Payout is about 50%. Distribution is very safe. Very cheap. 6.3% yield. | 2009-07-20 | |
| TOP PICK | 11.390 | Michele Robitaille | High-quality REIT with a diversified office, industrial, retail portfolio. Class A properties with long leases. Have been knocked down because of the Bow, a large development project in Calgary. Financing has now been substantially lined up. Trading at a significant discount to its peers. Payout ratio is only 50%. There could be a substantial increase in distributions. | 2009-07-17 | |
| TOP PICK | 11.240 | Ken McCord | REIT sector is starting to pop up on his radar screen. A nice diversified play and one of the lower risks in REITs. Debt to equity and payout ratios is very conservative. Yield of about 6%. Had a big growth opportunity with the Bow project in Calgary, which seems to be fully financed now. | 2009-07-15 | |
| BUY | 11.120 | Ben Cheng | (Market Call Minute.) Good price. | 2009-07-13 | |
| BUY | 10.800 | Michael Simpson, CFA | Very high-quality institutional portfolio including industrial, office and retail properties along with a 25 year lease on the Encana (ECA-T) Bow property in Calgary. Recently got bank financing as well as doing an equity raise. Seem to be on track but may have to sell some smaller properties. Earning their distributions from their cash flow. | 2009-07-06 | |
| Comment | 10.260 | Charles Dillingham | Got into the construction of the Bow in Calgary for Encana (ECA-T) at the wrong time and were badly strapped financially for a long time. Finally got there money and cut their distribution. One of the lowest payout ratios. Should perform reasonably well from here. | 2009-06-25 | |
|
| |||||
| Comment | 9.900 | Paul Gardner, CFA | They are builders of the Bow building in Calgary and had funding problems. They solved this but at a high cost. Encana (ECA-T) is their main tenant. There is too much space now out West. Hope that commodities stay firm and, most importantly, natural gas recovers. | 2009-06-08 | |
| BUY on WEAKNESS | 10.310 | Dennis Mitchell, CFA | Probably undervalued relative to its peers. It is now really 2 different companies. There are the stable REIT assets with major companies as long leased tenants. The other part is the Bow development in Calgary and is probably the reason for most of the stock depreciation. This is now fully financed and going forward will be one of the best assets of any REIT. You'll be able to pick away at it over the summer for a better price. | 2009-06-03 | |
| TOP PICK | 9.850 | Michele Robitaille | Undervalued. Great, high-quality REIT with a well-diversified portfolio including office, industrial and retail Class A real estate. Have gone a long way in addressing some of the financial risks on the Bow project in Calgary. 7.3% yield. | 2009-05-22 | |
| HOLD | 9.500 | Charles Dillingham | They got over the hump. He took his profits. He doesn’t know how much they strained themselves elsewhere. | 2009-04-29 | |
| STRONG BUY | 8.500 | David Baskin | Uncertainty came when they announced they did not have financing. Cut the distribution in half. Had to pay out a lot of money. Thinks the bank they have finally secured the financing from is very expensive. Thinks distribution will go up. Financing will be paid off. Portfolio is strong. | 2009-04-14 | |
| Comment | 8.450 | Bruce Campbell | Thinks they will be slow to increase their distribution again. A little bit cheap and you could see it going back to $9 or $10. | 2009-04-13 | |
| TOP PICK | 8.280 | Michele Robitaille | Base part of the business is very high quality Class A real estate, primarily office focused with a strong tenant base and long-term leases. Have suffered because of the Bow Valley building in Calgary that ran into some issues under construction finance. They got the finance in place. Relatively cheap. | 2009-04-02 | |
| Comment | 6.730 | Dennis Mitchell, CFA | Almost done with the Encana saga. Latest press release indicates 2 banks will co-lead a debt issuance of $425 million and they have ponied up $250 million between them. Still need to source another $125 million between them before the Bow development is fully financed. 10% distributions will not be increased until 2011. | 2009-03-17 | |
| DON'T BUY | 6.600 | Ross Healy | Wouldn't touch anything to do with real estate. Hasn't liked real estate for some time. | 2009-03-05 | |
| TOP PICK | 7.240 | Kevin Hall BComm, CFA | Big office development in Calgary for Encana (ECA-T). Construction financing needs has been a huge overhang. Got $200 million from Fairfax Financial (FFH-T) that is contingent upon getting remaining financing from a syndicate of banks. Feels 80% chance that this happens and if so could see unit price going to $9 to $10. | 2009-02-27 | |
| HOLD | 8.010 | Dean Orrico | (Market Call Minute.) Recently cut distributions. Has a big project in Calgary that it should be able to handle. | 2009-02-06 | |
| BUY | 8.040 | Michele Robitaille | Very high quality real estate. Took a 50% haircut because of their Bow office tower in Calgary, which now looks like the financing will be covered. Base portfolio is Class A office space and very stable. Long life leases. | 2009-02-03 | |
| Comment | 7.930 | Michael Simpson, CFA | The big issue was financing for the Bow in Calgary but recently got $200 million. Feels that one of their traditional lenders will step up. Solid portfolio with blue-chip tenants and long-term leases. Wants to see what interest rate will be charged. | 2009-01-16 | |
| DON'T BUY | 8.200 | Paul Gardner, CFA | Specializing in office buildings. Geographically diverse. Part of the new Bow building in Calgary That had funding and leasing issues. Now have their funding. In the REIT market you have to own best in class. Limited growth profile. | 2009-01-13 | |
| DON'T BUY | 7.650 | Norman Levine | All of the REITs have come down because of 1) occupancy rates going up and 2) cost of capital has gone through the roof. In this case, the building they are putting up in Calgary for Encana (ECA-T) has just got the financing but the terms are very steep. | 2008-12-30 | |
| BUY on WEAKNESS | 6.300 | Bruce Campbell | Great office and industrial holdings, mostly in southern Ontario. 21% yield is because of the Encana building in Calgary, which brought the stock price down. Looks like they may be able to slide through without cutting distributions. Not a bad entry point. Good risk/reward. Try to buy under $5. | 2008-12-23 | |
| Comment | 6.200 | Paul Gardner, CFA | Hit hard partially because of the Bow building in Calgary. In this environment, you have to look for the strongest balance sheets. The feeling is that REITs will not be able to grow distributions. | 2008-12-17 | |
| VAGUE | 6.320 | Dennis Mitchell, CFA | They cannot maintain the distribution. Very long term debt. They need 800million in financing to develop their "Bow" development in Calgary. It looks doubtful they will get it so they will have to scale it back. Long term (5 to 6 years) it will be "a very handsome return". They just sold their position. | 2008-12-16 | |
| DON'T BUY | 6.650 | Bill MacLachlan | Feels REITs are paying out distributions that are unsustainable. Building the Bow in Calgary for Encana (ECA-T) and have a long-term lease. Despite that they are having a tremendous leap difficult time in getting the financing to continue the construction. Be cautious. | 2008-12-11 | |
| TOP PICK | 6.750 | Ben Cheng | Took on a tremendous risk building the Bow tower in Calgary. Risk outlook is going to get much better. Wonderful contract of 25 years with price escalators and a solid client, Encana (ECA-T). Looking forward, construction and financing costs will be moving into their favour. | 2008-12-08 | |
|
| |||||
| DON'T BUY | 5.500 | Michael Simpson, CFA | Quality company. Made a strategical error when they agreed to build the Bow Tower in Calgary for Encana (ECA-T). Original cost was supposed to be $1.1 billion but has gone up to $1.4 billion. Will have to come up with $800 million of financing. Other parts of their portfolio are doing very well. Expects there will be a distribution cut. | 2008-11-20 |
