| BUY on WEAKNESS | 22.500 | Dennis Mitchell, CFA | Primarily multiresidential seniors housing. Pretty solid cash flow. Strong growth potential internally. Free cash flow yield of about 8.5%. Try to get in at around $20 but is cheap at these levels. | 2008-08-13 | |
| BUY | 21.060 | Paul Gardner, CFA | Apartment buildings in Inuvik. Good managers. Have shown some good net income increases. | 2008-04-10 | |
| BUY | 20.900 | Dennis Mitchell, CFA | Started acquiring seniors housing properties, sales/lease backs as well as industrial/commercial real estate in northern and remote geographies. Waiting for a little more clarity on management strategies before buying more. Good quality. Trades at a discount to NAV. | 2008-01-14 | |
| BUY | 21.840 | Norman Levine | Specializes in housing in northern Canada. Very conservative. Payout ratio is probably one of the lowest in the REITs. Its largest single tenant is government sold there is little credit risk. | 2008-01-07 | |
| BUY | 21.600 | Paul Gardner, CFA | Likes this one even though it has not performed well. Specialty REIT that focuses on Northern properties. Also investing in seniors housing, which adds to their Funds From Operations. Were hurt by energy costs but have cut costs. | 2007-12-28 | |
| BUY on WEAKNESS | 23.090 | Dennis Mitchell, CFA | Excellent management. Traditionally a multi-residential play in northern geographies. Recently branched into industrial properties in the Northwest Territories and Newfoundland, which is probably the reason for the selloff. Still prudently financed and distribution is well covered by free cash flow. Internal growth looks very strong. Buy at one dollar lower. | 2007-12-07 | |
| PAST TOP PICK | 23.480 | Norman Levine | (A Top Pick Oct 10/06. Up 5.5% plus distribution.) Largest, mostly residential REIT in northern Canada, servicing the territories, northern Alberta and Nunavut. | 2007-10-02 | |
| BUY | 22.370 | Dennis Mitchell, CFA | Looks like they are going through a bit of transformation. Had been focused on multi-residential properties in northern Canada and looks like they are branching out to acquire commercial properties as well. Very prudently managed. Sustainable payout rati | 2007-09-04 | |
| BUY | 22.180 | Dennis Mitchell, CFA | Seemed to be going through a strategic transformation. Started off multi-residential with some commercial and have added more and more commercial including a large office complex in Yellowknife. Expect they will branch out. Now have a seniors housing too. Trading significantly below NAV. Gives an attractive yield. Great management. | 2007-08-16 | |
| BUY | 22.790 | Sandy McIntyre | Northern Territories of Canada are one of the fastest-growing economies and population. A mix of residential, commercial and some retirement homes focused on fast-growing communities in western and northern Canada. Good price. | 2007-08-13 | |
| BUY | 23.030 | Charles Dillingham | Has dropped a lot and is probably good value here. 5.9% yield. Very good products in the North. Trying to expand into other markets. | 2007-07-23 | |
| BUY | 23.060 | Dennis Mitchell, CFA | Recently purchased 236 multi-family units in Fort McMurry which is boomtown in northern Alberta.
One of the most frugal and conservative management teams. | 2007-06-29 | |
| BUY | 24.400 | Norman Levine | Caller asked for recommended real estate play.
Real estate investment trust that invests in residential facilities in northern Canada.
Sells at a lower multiple then most REIT's do, and has a lower payout ratio, so there is lots of room to increase their payouts. | 2007-06-12 | |
| BUY | 25.130 | Paul Gardner, CFA | Own a lot of apartments in Nunavut and northern Alberta. Starting to get into the nursing home business. Limited competition. Good management team. Very conservative payout ratio. | 2007-05-17 | |
| BUY | 25.740 | Charles Dillingham | Added to his holdings on recent weakness. Excellent management who own a large share. You won't make a huge win, but it is positive income. Expects positive growth also. | 2007-05-07 | |
| BUY | 25.700 | Paul Gardner, CFA | Conservative, and they have a good hold of their market. He does like it. | 2007-05-03 | |
| HOLD | 25.360 | Chyanne Fickes | Run apartment complexes in the north. A lot of their clients are governments and large oil companies, so have a very stable income. Distributions are very stable. Exceptionally well-run company. | 2007-04-17 | |
| BUY | 25.570 | Dennis Mitchell, CFA | Multi-residential focused in northern Alberta, B.C and NWT. Have fast accretive growth. Good value. | 2007-04-03 | |
| PAST TOP PICK | 25.440 | Norman Levine | (A Top Pick April 4/06. Up 17.9%.) A REIT that specializes in residential properties in northern Canada. Have branched out into some healthcare facilities. Still likes. | 2007-03-28 | |
| PAST TOP PICK | 25.700 | Michael Simpson, CFA | (A Top Pick Mar 31/06. Up 20%.) Provides accommodation in northern areas like Yellowknife. Also diversified into St. John's Newfoundland. Conservative management. | 2007-03-20 | |
| HOLD | 26.750 | Dennis Mitchell, CFA | Multi-residential northern geography and Atlantic Canada. Great management team and low payout ratio. | 2007-01-19 | |
| HOLD | 27.650 | Dennis Mitchell, CFA | Multi-residential real estate, primarily in northern territories. Strong management. Low debt leverage and low payout ratio. Expects them to consolidate multi-residential properties. | 2006-12-22 | |
| BUY on WEAKNESS | 23.750 | Dennis Mitchell, CFA | Multi-residential REIT. Focused in Northern and remote locations. First calibre management team. Very prudent in leverage levels and payout ratios. | 2006-11-21 | |
| PAST TOP PICK | 24.350 | Michael Simpson, CFA | (A Top Pick March 31/06. Up 13.7%.) Rental accommodations in northern properties. Not much competition. Higher operating costs. Conservative payout ratio. | 2006-11-03 | |
| BUY | 24.890 | Gavin Graham | Northern Alberta and Northwest Territories has had a tremendous boom. Good holding for long-term investors. | 2006-10-30 | |
| PAST TOP PICK | 24.200 | Robert Lauzon | (A Top Pick June 2/06. Up 13%.) Hope to make 10% a year off of this. Have some growth and raise their distributions every year by 3 or 4%. Yield is around 6%. | 2006-10-20 | |
| TOP PICK | 23.590 | Norman Levine | Mostly owns residential apartment buildings in Canada's north. Great growth. Distribution that is well below average so there is lots of room for increases. Very healthy balance sheet. Biggest tenants are governments. | 2006-10-10 | |
| TOP PICK | 21.750 | Robert Lauzon | (A Top Pick Jun 2/06. Up 2.5%.) About a 6% yield. Properties in areas where there is strong growth.. A safe way to park some money. | 2006-09-08 | |
| HOLD | 21.500 | Paul Gardner, CFA | Own about 4500 rental properties in northern Canada. They have to deal with higher fuel costs but they can pass most of that through. | 2006-07-07 | |
| TOP PICK | 21.150 | Robert Lauzon | (A Top Pick March 24/06. Down 5.5%.) Did an equity to raise some financing so has been under pressure. A Top Pick for more conservative investors. | 2006-06-02 | |
| WEAK BUY | 19.870 | Ben Cheng | Residences requirements in the oil sand area have been growing exponentially in the last 3/4 years. Now starting to branch off into retirement and senior care businesses. This will add a little bit of risk. | 2006-05-19 | |
| BUY | 21.350 | Robert Lauzon | A REIT that has good properties in areas that have higher growth. | 2006-04-07 | |
| TOP PICK | 21.580 | Norman Levine | Main part of their business is residential rental property in northern Canada. As oil/mining booms, they are the prime beneficiary. Largest tenant is the federal government. Drop in price and is a good opportunity to buy. | 2006-04-04 | |
| TOP PICK | 21.410 | Michael Simpson, CFA | Recently acquired a long-term facility in Alberta. Think they will do an equity issue shortly. Good name. Very strong management. Have the ability to increase distributions. | 2006-03-31 | |
| TOP PICK | 22.480 | Robert Lauzon | Owns multi-residential real estate in some high-growth areas. This one is a defensive pick. Gives about a 5% yield. Sees some good growth and stability due to increased migration into Alberta and the North. | 2006-03-24 | |
| TOP PICK | 18.300 | Charles Dillingham | Some relative risks in that it is somewhat a closed market up north and more competition, but it has a little bit higher income than the average. Management has a significant participation in the ownership. Debt level is low. A good value situation. | 2005-12-16 | |
| TOP PICK | 17.240 | Charles Dillingham | Doesn't think anything is cheap, so his Top Picks are names that have underperformed and can be looked at. This one has moved down a lot relative to the others. Wait for it to form a base before buying. Yield is approximately 7.25%. | 2005-08-08 | |
| VAGUE | 14.300 | Charles Dillingham | Hasn't done as well this year as it had last year. | 2004-10-15 | |
| DON'T BUY | 13.850 | Ben Cheng | Pretty much the dominant player in their space. However, avenues for growth are pretty limited. A defensive trust and may not perform that well in a rising interest rate environment. | 2004-07-15 | |
| DON'T BUY | 31.670 | Sandy McIntyre | Pricey. Will benefit from the gas reserves in the north, but this will take about 5 plus years before there is a pipeline. | 2003-06-19 | |
| DON'T BUY | 12.990 | Sandy McIntyre | A little bit rich here. Dominant market share. | 2003-05-07 | |
Experts that have talked about Northern Property REIT
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