@TSXDivStock

Former prof stock analyst/portfolio manager. Focused on dividends, particularly value opportunities. Not advice, do your own research.

 Toronto
Joined August 2022
  • Tweets2.6K
  • Following130
  • Followers2.3K
940Media
$PLZ.UN closed today at $5.30, slightly above the unsolicited offer of $5.28, implying the market is expecting a deal at $5.50 or more? That may be a bit aggressive as the REIT sector has dipped meaningfully (and $MRC.TO, the largest holder, said they would sell at $5.28).
TSX Dividends@TSXDivStockAug 6
Plaza Retail REIT reports solid quarter, and more importantly, discloses that more interested parties have come along since the Axia bid. $PLZ.UN RBC comments:
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This should take some of the pressure off Toronto residential REITs $CAR.UN, $MRG.UN
John Pasalis
@JohnPasalisOct 20
The condo rental glut in the Toronto area is clearing fast. There were 5,978 condos for rent at the end of September, down 29% from last year and 44% below last November's peak. A short thread on what's going on. 1/
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NBF upgrades CT REIT - low debt level gives it an advantage in current environment. Well covered 5.7% yield $CRT.UN
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In a new note TD analysts detail the numerous problems with the H&R transaction, and set out the better alternatives if the deal is rejected. Apparently six institutional unitholders now publicly saying they will vote against. Snippet below, the deal is clearly unfair. $HR.UN
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Don’t forget to vote $HR.UN
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Another (3rd?) institutional investor makes a public statement that they will vote against the H&R deal. $HR.UN Sandpiper Group Announces Its Opposition to H&R's Proposed GO Residential Transaction prn.to/4BbNoM3

Sandpiper Group Announces Its Opposition to H&R's Proposed GO Residential Transaction

/CNW/ -- Sandpiper Group ("Sandpiper"), which owns approximately 1% of the outstanding units of H&R Real Estate Investment Trust ("H&R") (TSX: HR.UN), today...

newswire.ca
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US CPI was higher than expected yesterday, but by the end of the day, yields were down. Now today the PPI is much higher, and the US 10-yr is down another 14 bps?! I think it was Peter Lynch who said if you spend 15 minutes a year thinking about macro you've wasted 10 minutes.
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TD analyst cuts target prices for mortgage lenders on negative sentiment (no change to estimates). 🙄 Also, he seems to be having a problem with math. Timbercreek pays 69c in annual div, which does not get a $5.50 target at a 10.5% yield. $TF.TO
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Last week's Starlink news pummeled telecom stocks. The threat to incumbent cellphone providers is debatable, and highly uncertain for Canada. Comments below from NBF. $BCE.TO, $T.TO, $RCIb.TO (and $CGO.TO now with a 8.8% yield! And a dividend increase expected this month)
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RBC does a nice job a reviewing the errors and lack of fairness in the H&R/GO deal. And also highlights something mostly overlooked, the $436 million land sale. Just kill the deal, and use the proceeds of the land sale to buy back units = 17% FFO/unit accretion! $HR.UN
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NBF latest Dividend All-Stars. They have a great track record with this list, and it’s always useful for new ideas.
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This H&R circular is a painful read. $HR.UN received a $12.50 cash offer last year, when the units were trading at $10.65. Now we are looking at a garbage non-cash deal and trading at $9.40. The entire board should be fired.
Nugget Capital Partners (NCP)
@NuggetCapitalOct 8
$HR.UN circular is out and it shows that Hofstedter and the "commitee" turned down numerous superior cash offers to the $Go.U deal. Add these facts to the activist letter yesterday and Mr. Ho-Fraudster and "Shady Steve" Gross is clearly in trouble and won't be getting approval.
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Timbercreek Financial $TF.TO yield now over 13%, company must be in big trouble. Oh, hold on, the CEO is buying more! 🧐
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Why I Am Buying REITs Hand Over Fist seekingalpha.com/article/495…

Why I Am Buying REITs Hand Over Fist | Seeking Alpha

While a 30-year Treasury yielding +5% offers a rigid, non-growing coupon, a high-quality REIT yielding 5% to 8% compounds cash flow. Read why I am buying REITs.

seekingalpha.com
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Several dividend stocks on RBC's latest small cap list. $CHE.UN is a new add this quarter. $DHT.UN, $PMZ.UN, $CHR.UN
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The past few months have been rough for the senior housing stocks, but, interest rates aside, fundamental trends are very strong. CIBC's comments on $CSH.UN. $SIA.TO, $EXE.TO
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RBC raises estimates on Alaris after recent deal and distribution increase. Approx 7% yield without the interest rate sensitivity of a REIT. $AD.UN
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Wow, REIT investing is not usually this dramatic. Congrats to all those who bought more on last week’s sell off. Still a mystery why mgmt felt the need to cancel distributions. $SGR.UN stocks.apple.com/ATZI0l6CMS2…

Slate Grocery REIT Enters into Definitive Agreement to be Acquired by Brixmor and Everview Partners...

Transaction Highlights All-cash transaction of US$13.00 per Unit, representing a total enterprise value of approximately US$2.3 billion, provides immediate liquidity and certainty of value to...

stocks.apple.com
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$SGR.UN decides to tank the unit price as part of its value-maximizing strategic review. wtf Slate Grocery REIT Provides Capital Allocation Update in Connection with Ongoing Strategic Review Process - businesswire.com/news/home/2…

Slate Grocery REIT Provides Capital Allocation Update in Connection with Ongoing Strategic Review...

Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the “REIT”) announced today that the Board of Trustees (the “Board”), upon the recommendation of its independe...

businesswire.com
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NBF takes $DHT.UN target to $25.50, with current portfolio alone worth $19.50.
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