Viewing Expert Paul Gardner, CFA | StockChase
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Compiling comments that experts make about stocks while on public TV.

Viewing Expert

Paul Gardner, CFA , Partner and Portfolio Manager

Avenue Investment Management

Address
47 Colborne Street
Suite 300
Toronto, ON
M5E 1P8

Contact Info
Telephone: 416.482.2004
Toll Free: 888.482.2007
Fax: 416.482.0007
Email:
Website: http://www.avenueinvestment.com/


Date Signal Chart Symbol Company Opinion Price
2016-02-17 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets. The US has GDP growth of 2% and unemployment at sectorial lows with pay increases. He wouldn’t be surprised if he saw a short-term 3-9 months’ rally in Canada relative to the US. Feels markets will go up, but will be quite volatile.


Price:
$0.020
Subject:
DIVIDENDS & REITS
Bias:
UNKNOWN
Owned:
_N/A
2016-02-17 TOP PICK Must be logged in to use chart ARE-T Aecon Group Inc

Convertible 5.5% bond due Dec 1/18. This can be swapped for stock at $19. The company’s balance sheet is very conservative, so he knows he is going to get paid back at the end of the day. This is also a play on the provincial and federal infrastructure plays. One 3rd to half of revenues comes from public ventures such as subways, etc.


Price:
$14.720
Subject:
DIVIDENDS & REITS
Bias:
UNKNOWN
Owned:
Yes
2016-02-17 COMMENT Must be logged in to use chart BAM.A-T Brookfield Asset Management (A)

Preferred R. Preferred market was terrible last year, down 30% minimum. This is not a fixed income product, but an enhanced equity instrument. There is just as much risk of rates going lower than higher. This is a hybrid of an equity instrument.


Price:
$42.670
Subject:
DIVIDENDS & REITS
Bias:
UNKNOWN
Owned:
Unknown
2016-02-17 COMMENT Must be logged in to use chart BEI.UN-T Boardwalk REIT

Sold his holdings as soon as he saw the 5% vacancy rate occurring in Calgary. These are great managers. They own 30% of the float, so if you want to be aligned with the owners, this is the REIT to own. If you don’t have exposure to Alberta, this would be a great company to own.


Price:
$42.140
Subject:
DIVIDENDS & REITS
Bias:
UNKNOWN
Owned:
No
2016-02-17 PAST TOP PICK Must be logged in to use chart BTB.UN-T BTB Real Estate Investment Trust

(A Top Pick March 31/15. Down 6.46%.) Real estate focused on Eastern Ontario and Québec. Their active strategy is to upgrade their portfolio and sell non-core assets. The biggest issue is that they are still over levered. Fantastic yield of 9%-10%.


Price:
$4.340
Subject:
DIVIDENDS & REITS
Bias:
UNKNOWN
Owned:
Yes
2016-02-17 COMMENT Must be logged in to use chart CAR.UN-T Canadian Apartment Properties

Lagged for a couple of years, but is now deemed as a defensive asset class. Most of their holdings are in Ontario. Spent a lot of CapX to refurbish their old buildings and are buying new ones. In a good spot and will probably continue to outperform the market.


Price:
$28.590
Subject:
DIVIDENDS & REITS
Bias:
UNKNOWN
Owned:
Unknown
2016-02-17 COMMENT Must be logged in to use chart CM-T Canadian Imperial Bank of Commerce

Canadian Banks have been the massive outperformers over the last 5 years. All banks have been saying that exposure to the oil/gas sector has been minimal, but they will be taking write-downs. Household debt is at an all-time high. There are a lot of negative headwinds coming. He prefers TD (TD-T) and Royal (RY-T). If you are going to be in this sector, he would want to be in the best and the most conservative with regards to the Canadian consumer. Has shaved down some of his banking positions in the last 6 weeks. In the long-term, you are not going to really get hurt, because they are good managers of their business.


Price:
$90.900
Subject:
DIVIDENDS & REITS
Bias:
UNKNOWN
Owned:
No
2016-02-17 COMMENT Must be logged in to use chart CSH.UN-T Chartwell Seniors Housing

The sector is rather strange because of a transforming acquisition by Ontario Teachers on Amica, which messed up all valuations on these retirement investments. Sold their US assets and are now totally located in Canada. The largest provider of seniors housing. Have done a good job of curtailing costs and have grown through acquisitions. They only pay out about 70% of their Net Operating Income. They are in a good spot to execute further, as well as a possible distribution increase. The sector is still somewhat expensive.


Price:
$12.350
Subject:
DIVIDENDS & REITS
Bias:
UNKNOWN
Owned:
No
2016-02-17 TOP PICK Must be logged in to use chart DH-T DH Corporation

Essentially a back office for financial institutions. Recently made acquisitions in the US that gives them growth. About 3 months ago a Short seller advised that they were playing fast and loose with revenue recognition and not making any money in the US. The stock dropped very quickly. The only way to disprove the Short Seller’s report is to show the numbers over the next 2-3 quarters. 5% organic growth and a lot of cross-selling opportunities. Incredibly cheap at 14X earnings. Dividend yield of 4.07%.


Price:
$31.770
Subject:
DIVIDENDS & REITS
Bias:
UNKNOWN
Owned:
Yes
2016-02-17 COMMENT Must be logged in to use chart DIR.UN-T Dream Industrial REIT

They are diversified to the industrial side such as FedEx and low intense industries. The only issue is Alberta, but Ontario and BC have lower vacancy rates. Kind of a desirable asset class globally with mergers and acquisitions. Industrials tend to be really defensive on a recession basis. Has always shied away from this because of their management contracts.


Price:
$7.620
Subject:
DIVIDENDS & REITS
Bias:
UNKNOWN
Owned:
No
2016-02-17 COMMENT Must be logged in to use chart HR.UN-T H&R Real Estate Inv Trust

There are things he likes and things he doesn’t. Has exposure to Alberta, but the properties are preleased for 10 years. One thing he doesn’t like is that it is all over the place. It is in the US. It has office and retail. Prefers the simple stories. One of the benefits is their US assets which is in US$. Good managers. Yield of 7%+.


Price:
$19.100
Subject:
DIVIDENDS & REITS
Bias:
UNKNOWN
Owned:
Unknown
2016-02-17 BUY Must be logged in to use chart IPL-T Inter Pipeline

This is a utility, so shouldn’t be volatile, but it is. Has 20 year contracts to the oil companies. Also, oil sands development is still growing. Their capital structure is fine. They got hit with the whole oil price situation. This has been oversold and overdone. Dividend yield of 7.3% is sustainable.


Price:
$22.020
Subject:
DIVIDENDS & REITS
Bias:
UNKNOWN
Owned:
Yes
2016-02-17 TOP PICK Must be logged in to use chart JPM-N JP Morgan Chase & Co

US banking has fallen by 30% this year, and he thinks that is inappropriate. Trading at 1X BV. Historically this is incredibly cheap. Dividend yield of 3%.


Price:
$58.770
Subject:
DIVIDENDS & REITS
Bias:
UNKNOWN
Owned:
Yes
2016-02-17 BUY Must be logged in to use chart KMP.UN-T Killam Properties Inc

Just reported and beat on some metrics. This is the right time to own this company. It is focused out East where vacancy rates are dropping and there is stability. They seem to have executed on what they promised in the last several years. Thinks it is on the cheap side. Trading at about 11X price to AFFO. Yield of 5.6%.


Price:
$10.840
Subject:
DIVIDENDS & REITS
Bias:
UNKNOWN
Owned:
Yes
2016-02-17 DON'T BUY Must be logged in to use chart T-T Telus Corp

Has never owned this because it was too expensive. With this you have to deal with the Alberta issue. He prefers BCE (BCE-T) which has done a great job with fibre and with content. 


Price:
$38.440
Subject:
DIVIDENDS & REITS
Bias:
UNKNOWN
Owned:
No
Showing 1 to 15 of 1,200 entries
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