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Killam Properties Inc
Symbol: KMP-T
Active: Y
Sector: property mngmnt/investment
Notes:They buy residential properties in Eastern Canada.
Last Price: 11.900
Last Price Date: 2012-02-11 01:14:22
Globe 200 day average
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Experts who have talked about Killam Properties Inc

PAST TOP PICK10.920Dennis Mitchell, CFA(Top Pick Nov. 17/10, Up 15.41% Total Return) Has done everything he expected. Surprise was the number of apartments in Ontario. On the cusp of calling it a core holding. 2011-12-05
PAST TOP PICK10.310Paul Gardner, CFA(Top Pick Sep 1/10, Up 16.93%) A theme4 from a year ago. Great defensive. Stability and as rates get lower they funding gets cheaper. Doesn’t know when he will transition out of it.2011-10-11
BUY10.520Jeffrey F. OlinTrading at a discount to NAV, which he feels is north of $11. This is one you can see sleep at night with.2011-09-26
PAST TOP PICK10.310Charles Dillingham(A Top Pick Sept 1/10. Up 19.72%.)2011-09-19
PAST TOP PICK10.670Paul Gardner, CFA(A Top Pick Sept 1/10. Up 21.43%.) 2011-09-08
BUY10.590Charles DillinghamAlways liked this name. Apartments in the Maritimes and now coming into Ontario. Also manufacturing homes. Use oil for heating so costs have gone up with the price of oil. Have a very good portfolio. 5% yield.2011-08-12
PAST TOP PICK10.010Paul Gardner, CFA(A Top Pick Sept 1/10. Up 13.15%.) A safe way to play real estate. Occupancy levels are pretty high.2011-08-10
Comment10.050Dennis Mitchell, CFAThis quarter came in flat as they had a little higher repairs, maintenance expenses and property taxes. Utilities got hit by the rise in oil prices. Great quality, core name. Multiple is a little high at 18-19 times free cash flow. Normally would buy at these levels, but with a volatile market will wait and see how it shakes out.2011-08-04
BUY10.770Dennis Mitchell, CFAApartment REITs and manufactured home communities, mainly in Atlantic Canada but also in Ontario. Increased their dividend this year. Concerned that they have gone into the luxury apartment market in Ontario.2011-05-26
PAST TOP PICK10.530Paul Gardner, CFAKillam Properties, Up 35% since May 28, 2010, He sold it recently because he thought it had done its run. Replaced it with Mainstream Equity.2011-05-17
TOP PICK10.750Dennis Mitchell, CFAMulti-family. Apartments and trailer parks, mainly in Atlantic Canada but increasingly in Ontario too. Worth $11.50-$12. Some headwinds on property taxes and utilities. Good quality name. Very safe and secure cash flow.2011-04-20
TOP PICK10.320Paul Gardner, CFAGet access to CMHC financing. Own apartments in Eastern Ontario and manufacture mobile homes. Have a ton of capital that they can access to grow the bottom line. Should get an 8%-10% rate of return this year.2011-02-23
HOLD10.320Charles DillinghamFairly high dividend yield. Well managed and have good properties. Will have trouble growing from here without taking a fair amount of risk. He’s been taking a little off the table.2011-02-04
TOP PICK10.000Dennis Mitchell, CFAApartments and manufactured homes in Atlantic Canada, Ontario and a little bit of Alberta. Great quality name. The take-out of Park Bridge earlier this year by BCIMC implies that KMP could be worth $12-$13. Compelling return at these levels.2010-11-17
BUY10.270Jeffrey F. OlinGood properties and they are good managers. They were company building and not shareholder value building earlier but on the right track now. Announced some new developments. For the first time you will see some value-add activities out of them. Recently they did an acquisition - pretty accretive. 2010-11-05
PAST TOP PICK10.000Paul Gardner, CFA(Top Pick Oct 6/09, Up 51.44%)2010-11-01
HOLD10.140Sandy McIntyreNice recovery in the share price and add a near all-time high. If you are a long-term income investor, continue to Hold. Good company.2010-10-08
HOLD10.250Charles DillinghamFinally getting its recognition. Getting a little extra push right now with their competition Parkbridge being taken out. Well managed and a very stable business. Probably as high as it's going to go for a while. 5.4% yield. Long-term hold.2010-10-07
TOP PICK9.240Charles DillinghamApartments and gets all the benefits of CMHC financing. Starting to grow in Ontario. About 85% payout ratio and a sustainable 6.1% yield.2010-09-01
TOP PICK9.240Paul Gardner, CFAOwn the apartment buildings and manufactured houses, basically mobile homes using CMHC financing. Just reported great numbers. Net operating income increased 5% and they upped guidance 5%. Good management and there is still room to grow.2010-09-01
PAST TOP PICK9.070Dennis Mitchell, CFA(A Top Pick July 20/09. Up 61.93%.) Still likes but a little expensive right now.2010-08-20
Comment8.990Michael DecterThe Atlantic region has done very well. This one is a nice growth situation.2010-08-16
PAST TOP PICK8.630Dennis Mitchell, CFA(A Top Pick July 20/09. Up 57%.) Primarily in Atlantic Canada with some exposure to Ontario and Alberta. Apartment buildings and some mobile homes. Still cheap at these levels.2010-07-15
BUY8.620Charles DillinghamLikes the name. One of his biggest holdings. They are doing a very good job. Expanding into Ontario via London and Waterloo. Some say buying properties at too high a price. They are getting a yield of 5% and then believe they can manage it a bit better and can borrow CMHC money and get a better spread. Dividend is safe. Brought payout ratio significantly below 100%. Safe long-term investment.2010-06-18
TOP PICK8.280Paul Gardner, CFAStable performer. Focuses on apartment buildings and manufactured housing, mostly out east. Get CMHC financing so that when interest rates drop they get better financing. 6.75% dividend.2010-05-28
PAST TOP PICK8.390Charles Dillingham(A Top Pick June 9/09. Up 44%.) Apartments and manufactured homes in the Maritimes and have done a very good job. Starting to move into Ontario. Still a Buy.2010-05-17
PAST TOP PICK8.400Dennis Mitchell, CFA(A Top Pick June 3/09. Up 45% excluding yield.) Focuses on apartments and trailer parks. Great cash flow and very stable. Still cheap.2010-04-28
BUY8.490Charles DillinghamLargely apartments in the Maritimes. Very good place to be. Payout ratio at around 90%. High dividend yield.2010-04-15
BUY8.270Paul Gardner, CFAREIT focuses on apartment buildings and mobile homes out east and in Ontario. Raise $50 million on an equity issue, which is slightly dilutive. This will go towards future purchases and will be accretive to the bottom line.2010-04-01
BUY8.290Charles DillinghamHe looks for good sources of dividend producing income, which this one is. They are earning their income and have their payout ratio down to about 90%.2010-03-19
HOLD8.470Dennis Mitchell, CFAApartment building and trailer parks in primarily Atlantic Canada. He was impressed how Atlantic Canada weathered the downturn. Fairly valued at these values. It’s a wait and see as to whether they can grow cash flow. Talked about entering Ottawa and Toronto markets.2010-01-19
TOP PICK8.350Paul Gardner, CFAManufactured housing focused mainly in the east. Very good management. Healthy 7.5% yield. When they need to borrow, they can use CMHC rates.2010-01-08
TOP PICK7.710Paul Gardner, CFAIf you are going to be in the REITs. They are great managers, mostly out east. They are seeing a net migration because of commodities. They are well capitalized. Get funding through CMHC. Distribution is sustainable and there is a chance it will grow.2009-11-24
TOP PICK6.940Paul Gardner, CFAOwn manufactured homes in eastern provinces and Ontario. They get cheaper CMHC financing so there is no funding issues.2009-10-06
VAGUE6.950Prakash HariharanThere is still some upside. 8% Yield is sustainable. Growth of dividend is questionable. Would prefer others in the sector.2009-09-29
TOP PICK6.070Dennis Mitchell, CFAApartments, primarily in Atlantic Canada where he economies have held in relatively well. Recently did an equity raise. Almost full occupancy. Access to CMHC financing.2009-07-20
BUY5.810Paul Gardner, CFAMulti-family residential apartments and manufactured houses and focused mainly in Atlantic Canada. A great play in a recession because of lower rents. Balance sheet has gotten better because of an equity raise. Have access to CMHC financing giving them lower interest costs. Trades at about 12X AFFO. Thinks yield is sustainable.2009-07-08
TOP PICK6.210Charles DillinghamMaritime operations and are producing well. About 9% yield.2009-06-09
TOP PICK5.800Dennis Mitchell, CFADominant apartment landlord in Atlantic Canada. Also have a portfolio of manufactured housing communities. Great Q1 performance but probably not sustainable as it was off of low occupancy last year. Sustainable payout ratio. CMHC financing. Look for opportunities to pick away at lower prices during the summer.2009-06-03
BUY4.990Dennis Mitchell, CFA(Market Call Minute.) Multiresidential with access to CMHC financing. Sustainable payout ratio.2009-03-17
Comment5.050Dennis Mitchell, CFAMulti residential properties in Atlantic Canada. Good management team. Likes the assets. Not a lot of rent growth in Atlantic Canada. Re-examining this company. Owns a little.2008-11-03
BUY7.940Dennis Mitchell, CFAOwns B & C multi residential properties. They dominate Atlantic Canada. A great name.2008-06-12
HOLD8.090Charles Dillingham6.9% dividend yield, which is very attractive for tax purposes. Fairly solid portfolio in the Maritimes. Don’t look for growth.2008-06-02
BUY8.000Charles DillinghamMaritime apartments. Pretty straight business. Likes them a lot. Has a very high dividend of about 7%, which he feels is safe. Top-quality apartments in good locations.2008-04-04
VAGUE7.600Dennis Mitchell, CFAApartments and manufactured home communities, primarily in Atlantic Canada. 2008-03-24
TOP PICK7.590Dennis Mitchell, CFAThis is his more defensive pick. Mostly residential and manufactured homes, mostly Atlantic Canada but also Ontario. Not as much internal growth. Payout ratio is in the low 80%’s. Discount to NAV. Strong and sustainable free cash flow growth.2008-02-29
TOP PICK7.740Charles Dillingham(A Top Pick Jan 18/07. Down 10.2% not including yields.) Apartments and they are earning their money. Debt is not too bad. Important to get guys that don't have to borrow money and have steady earnings in an industry that will survive tough times.2008-02-14
PAST TOP PICK8.300Michael Simpson, CFA(A Top Pick Feb 23/07. Down 16.2% including distributions.) Sold his holdings last summer in the $9.50/$9.60 range. If you own, continue to Hold. At these levels, he may consider buying again.2008-01-22
TOP PICK8.500Charles DillinghamApartments in Atlantic Canada and some manufactured homes in Ontario and Western Canada. Dividend income that competes with the interest equivalent of all the other REITs etc., which are not tax-deductible. They are steady. Have held their value fairly well in recent times.2008-01-18
PAST TOP PICK8.580Dennis Mitchell, CFA(Top Past Pick Dec 22/06. Down 15.1%.) Sold his holdings earlier this year. A good quality name and that these levels represents 10%-15% discount to NAV. Distribution is covered. If you own, start selling at $11 and consider exiting at $13.2007-12-07
BUY8.750Charles DillinghamThey have made a few mistakes, but he likes them. They've got a very good dividend which is a tax advantage. He believes it is sustainable. Not spectacular, but stable. You are buying for the yield, plus a bit of growth.2007-10-29
TOP PICK9.450Dennis Mitchell, CFAOwns multi-residential properties in Atlantic Canada. Owns 10% of the market. Possibly considering Ontario also. Trading below its NAV. Good free cash flow yield. Possible takeover target.2007-09-04
BUY7.900Dennis Mitchell, CFATraditional apartment buildings mixed with trailer parks. Significantly below NAV. Instituted a dividend earlier this year and expects they are looking to convert to a REIT. Excellent dominance in Atlantic Canada apartments. Good yield and good management team.2007-08-16
Comment8.970Charles DillinghamA very good portfolio of apartments in the Maritimes. Have mobile homes in Ontario and west. Been a disappointment, primarily because of financing. Should have issued stock a few years ago, but borrowed expensively. Then issued stock and market was unhappy with it. Dividend yield of close to 6%. Okay long-term.2007-07-23
HOLD9.200Michael Simpson, CFAReal estate operating company in Atlantic Canada. Have a levered balance sheet, so the market is expecting an equity issue.2007-07-04
HOLD9.980Charles DillinghamThink they will be OK on the taxes because they are an apartment company. Very good portfolio. Good dividend. Probably won't make a lot of money on this. Long term it will be positive.2007-06-20
BUY2.740Charles DillinghamGood group. Have acquired a lot of property in wonderful locations and have upgraded them. A lot of their expenditures are over, so they won't have to spend as much on development. Good value longer-term.2007-05-07
BUY2.560Charles DillinghamApartments and manufactured homes. Have been in the $2.30-$2.60 range for a long time. The expectation is that there is a private deal in the Maritimes that when it is completed, will make this stock look cheap. Good portfolio.2007-04-11
TOP PICK2.510Michael Simpson, CFAA real estate operating company. Speculation that it could become a REIT. Have tax losses, so will continue as they are until they get final details of the proposed legislation. Instituted a 14% dividend. Undervalued.2007-02-23
PAST TOP PICK2.400Dennis Mitchell, CFA(A Top Pick Dec 22/06. Down 6.3%.) Vagaries of how taxes will apply to REITs have prevented them from converting. Have suffered from a little bad luck, but still likes.2007-02-16
TOP PICK2.370Dennis Mitchell, CFAMulti-residential. Pretty much the sole consolidator of residential property in the Atlantic provinces. Tremendous density in terms of property. Strong management. Strong possibility it will be a REIT by the end of 2007.2007-01-19
BUY2.450Michael Simpson, CFAA consolidator of family apartments in Atlantic Canada. Also have a trailer park division. Will probably convert to a REIT. Expects upside of the stock.2007-01-04
TOP PICK2.540Dennis Mitchell, CFAOwn apartments, but also manufacture home communities. They are reviewing their strategic alternatives, but he feels they have no choice but to convert to a REIT to get their cost of capital back.2006-12-22
BUY on WEAKNESS2.600Dennis Mitchell, CFAMulti-residential operating company. One side of their business owns traditional apartments while the other side owns manufactured home communities. Have grown as much as they can in the corporate model so it may become a REIT conversion.2006-11-21
WAIT2.700Charles DillinghamHas been very static to negative for a while. They should have done a stock issue last year. With their convertible debt, their debt is up to 70% and you can't grow from that base. Wait until they do a stock issue.2006-06-05
HOLD2.900Charles DillinghamHe thinks very highly of this company. Recently disappointed with the recent market movement. Good company, it is expanding. It may be growing too fast and not letting the earnings catch up. He has a big position in this stock and they are staying in it. 2006-03-11
BUY2.710Peter HodsonEastern Canada residential rental company. Very well managed. Did a good job acquiring properties, raising rents, creating synergies for cost savings. Has stalled a bit because they are serial issuers i.e. they issue stock and then buy properties, issue stock, etc. From a long-term perspective, it's a good company.2006-02-01
BUY2.600Charles DillinghamStock price has stayed at this level for quite awhile. Seem to be doing a very good job. Internal cash flows are improving significantly. Thinks it's going to make up for the fact that there is no dividend payout.2005-08-08
BUY2.730Charles DillinghamLikes it a lot. Well managed, fast growing apartment REIT in the Maritimes. No distribution at the moment. It's all growth.2005-05-12
TOP PICK1.970Glenn Paradis, BA, CFAHave increased their urban real estate market share from 0 to 3 1/2% on the east coast. Acquisition oriented and are able to get their properties at pretty attractive prices. Good management team.2004-10-14
BUY1.960Charles DillinghamVery good group. Buying properties that make sense.2004-10-08
BUY2.200Peter HodsonA consolidation rental housing strategy in eastern Canada. Ultimately, in 3/4 years, they'll change into a REIT.2004-03-23
BUY2.440Peter HodsonHave been very aggressive in buying property in the Maritimes. Well-managed. Very impressive with what they've done.2004-03-02
TOP PICK1.440Peter HodsonNo competition. Will probably turn into a REIT ultimately. Give it a couple of years and cash flow should start looking pretty good. Just did a financing, so let it settle down first.2003-11-14

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