Carney headed to Washington on Tuesday. Think the outcome can be good for Canadians, especially industrial REITs which have suffered with the tariff narrative. I added more $NXR.UN as the last thing holding it back are the automotive threats. Lots of running room if they make a deal.
Canadians elected a new government to stand up for Canada and build a strong economy.
As Prime Minister, I’ve heard that message loud and clear. Today, I’ve shared my plan to set out on a new path for Canada — and act with focus and determination.
As Prime Minister, I’ve heard that message loud and clear. Today, I’ve shared my plan to set out on a new path for Canada — and act with focus and determination.
May 5, 2025 at 12:45 AM
Carney headed to Washington on Tuesday. Think the outcome can be good for Canadians, especially industrial REITs which have suffered with the tariff narrative. I added more $NXR.UN as the last thing holding it back are the automotive threats. Lots of running room if they make a deal.
$TNT.UN restores dividend at a very low payout ratio. They had been using capital to reduce debt and make a significant dent in unit buyback with NCIB. CEO Drimmer hadded millions worth. Total occupancy ~93% or ~87% including assets for sale. Location matters more then quality in my opinion.
March 19, 2025 at 7:58 AM
$TNT.UN restores dividend at a very low payout ratio. They had been using capital to reduce debt and make a significant dent in unit buyback with NCIB. CEO Drimmer hadded millions worth. Total occupancy ~93% or ~87% including assets for sale. Location matters more then quality in my opinion.
$NXR.UN latest update from Scotia Bank. They think the distribution is sustainable for the time being.
March 12, 2025 at 11:57 PM
$NXR.UN latest update from Scotia Bank. They think the distribution is sustainable for the time being.
$WCP.TO / $VRN.TO deal, a nice little gem between friends in the Canadian E&P space. Two heavily promoted sellside companies merge. Putting the very miserable former Crescent Point operators out of business but Whitecap still inherits 4 of their zero alignment directors. Divy yield now 8% @ WCP. lol
March 10, 2025 at 4:58 PM
$WCP.TO / $VRN.TO deal, a nice little gem between friends in the Canadian E&P space. Two heavily promoted sellside companies merge. Putting the very miserable former Crescent Point operators out of business but Whitecap still inherits 4 of their zero alignment directors. Divy yield now 8% @ WCP. lol
$NXR.UN Nexus Industrial #REIT results looked good to me and exceeded my own views on guidance. Already a new tenant likely for the London area bankruptcy of Peaveymart which is paying below market rent. Organic growth coming online. NOI & NAV growth. Credit grade rating possible in 2025 per the CC.
March 10, 2025 at 3:21 PM
$NXR.UN Nexus Industrial #REIT results looked good to me and exceeded my own views on guidance. Already a new tenant likely for the London area bankruptcy of Peaveymart which is paying below market rent. Organic growth coming online. NOI & NAV growth. Credit grade rating possible in 2025 per the CC.
Looks like Twitter down. Is Musk trying to stop the bleed in $TSLA? lol.
#TeslaTakeDown #TwitterTakedown
#TeslaTakeDown #TwitterTakedown
March 10, 2025 at 1:56 PM
Looks like Twitter down. Is Musk trying to stop the bleed in $TSLA? lol.
#TeslaTakeDown #TwitterTakedown
#TeslaTakeDown #TwitterTakedown
Doubt anybody on Bluesky is following $NRR.UN but it's a very large holding right now and likely remains l/t. Quarter looks solid to me. Western Canadian growth continues. SPNOI up meaningfully between quarters. Occupancy bullet proof. Selling their worst and oldest properties at/above IFRS values.
March 6, 2025 at 9:25 AM
Doubt anybody on Bluesky is following $NRR.UN but it's a very large holding right now and likely remains l/t. Quarter looks solid to me. Western Canadian growth continues. SPNOI up meaningfully between quarters. Occupancy bullet proof. Selling their worst and oldest properties at/above IFRS values.
As noted several days ago by me via the trading logs, Artis is back buying Dream Office. Manji also canceled 560,000 $AX.Un units today. I'm out of Artis for now as I moved my money into Northview and Dream Residential over the past month. One of the most shorted names on the TSX.
March 1, 2025 at 12:50 AM
As noted several days ago by me via the trading logs, Artis is back buying Dream Office. Manji also canceled 560,000 $AX.Un units today. I'm out of Artis for now as I moved my money into Northview and Dream Residential over the past month. One of the most shorted names on the TSX.
We'll take it for the real estate bros. Lower longer-term bond yields will be help. USTs seem to have been having a profound impact on Canadian bond yields as we would move off hot US inflation data which wasn't fun. Jig could be up now. I like it as a real estate investor and have been waiting for
Trade data from this morning has driven a huge drop in the Atlanta Fed GDPNow real-time tracker for Q1 GDP. Today's data took it from 2.321% to -1.477%. What's going on? Let's do a little thread explaining.
February 28, 2025 at 6:05 PM
We'll take it for the real estate bros. Lower longer-term bond yields will be help. USTs seem to have been having a profound impact on Canadian bond yields as we would move off hot US inflation data which wasn't fun. Jig could be up now. I like it as a real estate investor and have been waiting for
$DRM.TO, found this comment on Regina very bullish. It's where Dream has the most residential land acres. They say they are most bullish on Regina and they have one of the only major developments in the city.
February 27, 2025 at 4:27 AM
$DRM.TO, found this comment on Regina very bullish. It's where Dream has the most residential land acres. They say they are most bullish on Regina and they have one of the only major developments in the city.
$DRR.U / $DRR.UN, around 50% discount to NAV into a strategic review process and the wizards at Scotiabank only have a sector perform rating on it while comparing it to $ERE.UN. They were neutral on ERE.UN as well until after they announced asset sales. Not sure how ppl make $ listening to analysts.
February 26, 2025 at 12:56 AM
$DRR.U / $DRR.UN, around 50% discount to NAV into a strategic review process and the wizards at Scotiabank only have a sector perform rating on it while comparing it to $ERE.UN. They were neutral on ERE.UN as well until after they announced asset sales. Not sure how ppl make $ listening to analysts.
$D.UN office call struck me as modestly bullish: Kansas office has unsolicited buy offers, sharp uptick in d/t touring rates, leasing up 74 Victoria faster then expected after gov't vacancy, sounded optimistic on transaction liquidity uptick, no more builds. Just a waiting game now as mkt tightens.
$D.UN results from TD Bank. I found the report positive as the 74 Victoria vacancy, which was known last year, already is seeing up to 104k sq ft of renewals. Also refinanced the 2025 maturities on 'attractive terms' and the Calgary res news is very interesting. I had it $0'ed out for my calculation
February 25, 2025 at 2:17 PM
$D.UN office call struck me as modestly bullish: Kansas office has unsolicited buy offers, sharp uptick in d/t touring rates, leasing up 74 Victoria faster then expected after gov't vacancy, sounded optimistic on transaction liquidity uptick, no more builds. Just a waiting game now as mkt tightens.
By numbers, activity levels are "low" in the US shale industry right now which is why bulls are scratching their heads wondering why production isn't falling. Nice slide below from RJ/Rystad OFS report showing why that is - rising HPP per frac fleet & increased rig efficiency: more with less. #OOTT
February 23, 2025 at 9:33 PM
By numbers, activity levels are "low" in the US shale industry right now which is why bulls are scratching their heads wondering why production isn't falling. Nice slide below from RJ/Rystad OFS report showing why that is - rising HPP per frac fleet & increased rig efficiency: more with less. #OOTT
$D.UN results from TD Bank. I found the report positive as the 74 Victoria vacancy, which was known last year, already is seeing up to 104k sq ft of renewals. Also refinanced the 2025 maturities on 'attractive terms' and the Calgary res news is very interesting. I had it $0'ed out for my calculation
February 21, 2025 at 5:08 PM
$D.UN results from TD Bank. I found the report positive as the 74 Victoria vacancy, which was known last year, already is seeing up to 104k sq ft of renewals. Also refinanced the 2025 maturities on 'attractive terms' and the Calgary res news is very interesting. I had it $0'ed out for my calculation
$D.UN going into earnings tonight w/ one of the lowest cumulative volume days on record. I've been adding to my position in past month since reading the CBRE report. Not expecting miracles. Artis could drive the price up in the coming months. Could do more asset sales. Office gradually recovering.
February 20, 2025 at 9:44 PM
$D.UN going into earnings tonight w/ one of the lowest cumulative volume days on record. I've been adding to my position in past month since reading the CBRE report. Not expecting miracles. Artis could drive the price up in the coming months. Could do more asset sales. Office gradually recovering.
$DRR.U w/ a 52-week high after ripping 17% on the strategic review news. On CC, CEO Pauls said he is confident in the company's internal NAV and says there are a number of buyers in their various US multifam markets. Sounds like asset sales are on the table based on the credit facility comment.
February 20, 2025 at 6:05 PM
$DRR.U w/ a 52-week high after ripping 17% on the strategic review news. On CC, CEO Pauls said he is confident in the company's internal NAV and says there are a number of buyers in their various US multifam markets. Sounds like asset sales are on the table based on the credit facility comment.
On the $MPCT.UN conference call today, Michael Cooper said $DRM.TO got "slaughtered" in terms of missing out on a selling price of an apartment they bid on in past months. The transaction market for apartments still robust. It is possible to sell apartment buildings in current climate without hassle
February 19, 2025 at 8:01 PM
On the $MPCT.UN conference call today, Michael Cooper said $DRM.TO got "slaughtered" in terms of missing out on a selling price of an apartment they bid on in past months. The transaction market for apartments still robust. It is possible to sell apartment buildings in current climate without hassle
Reposted
As you know, I've studied MRT in detail.
www.konekoresearch.com/p/morguard-r...
I see people using my work without any attribution. I have not seen anybody add anything I did not already know.
www.konekoresearch.com/p/morguard-r...
I see people using my work without any attribution. I have not seen anybody add anything I did not already know.
Morguard REIT: Will This Value Trap Spring Open After Large Insider Buying?
Morguard REIT (MRT) has been a bad investment for the past 10 years:
www.konekoresearch.com
February 17, 2025 at 3:52 AM
As you know, I've studied MRT in detail.
www.konekoresearch.com/p/morguard-r...
I see people using my work without any attribution. I have not seen anybody add anything I did not already know.
www.konekoresearch.com/p/morguard-r...
I see people using my work without any attribution. I have not seen anybody add anything I did not already know.
$NXR.UN, one of my largest positions now. Had a nice chat with the CEO Kelly last week who answered my questions. Working on an early releasing opportunity. Rents in place at two Peavymart locations significantly below market so bankruptcy may provide opportunity - still potential of restructuring.
February 16, 2025 at 1:05 AM
$NXR.UN, one of my largest positions now. Had a nice chat with the CEO Kelly last week who answered my questions. Working on an early releasing opportunity. Rents in place at two Peavymart locations significantly below market so bankruptcy may provide opportunity - still potential of restructuring.
$NRR.UN, made slight adds to this which is major position for me. A significant chunk of portfolio is in the Arctic, including Nunavut which leases to government tenants - the most defensive. Very little supply coming in their mkts outside of Calgary. Not well understood. Very illiquid & very cheap
February 16, 2025 at 1:01 AM
$NRR.UN, made slight adds to this which is major position for me. A significant chunk of portfolio is in the Arctic, including Nunavut which leases to government tenants - the most defensive. Very little supply coming in their mkts outside of Calgary. Not well understood. Very illiquid & very cheap
$MRT.UN, bought a ton of Morguard REIT in the past month as I believe Armoyan is close to reaching the point where action is warranted after "many years" of speculation that MRC/Sahi would take it private. Alternative is that assets can be sold + capital returned. Something has to give.
February 16, 2025 at 12:59 AM
$MRT.UN, bought a ton of Morguard REIT in the past month as I believe Armoyan is close to reaching the point where action is warranted after "many years" of speculation that MRC/Sahi would take it private. Alternative is that assets can be sold + capital returned. Something has to give.
Big week for Dream investors coming with Impact & Dream Office reporting. I increased my Dream Office exposure after reading the Q4 CBRE report for d/t Toronto. Will decide on Impact after results are issued as investors wait for development news.
$MPCT.UN Feb. 18
$D.Un Feb. 20
$DRm.TO Feb. 25
$MPCT.UN Feb. 18
$D.Un Feb. 20
$DRm.TO Feb. 25
February 16, 2025 at 12:53 AM
Big week for Dream investors coming with Impact & Dream Office reporting. I increased my Dream Office exposure after reading the Q4 CBRE report for d/t Toronto. Will decide on Impact after results are issued as investors wait for development news.
$MPCT.UN Feb. 18
$D.Un Feb. 20
$DRm.TO Feb. 25
$MPCT.UN Feb. 18
$D.Un Feb. 20
$DRm.TO Feb. 25