$NXRT still chugging. Glad I loaded up at 8.2% yield or so on the dip with some FI cash. Management talked of using DST agreements to prove NAV and bolster FFO if need be.
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Chris in Canada 🍁
19.9K posts
Chris in Canada 🍁
@tsxman
Focus: Energy markets #OOTT, Public real estate, countercyclical investing. Trying to be ahead of the curve. Everything I write is original.
Québec Katılım Haziran 2009
277 Takip Edilen11.3K Takipçiler
$NXRT up 9.5% on better then expected Q1 earnings release. Says 🇺🇸 Sunbelt multifamily entering the most favourable backdrop in over a decade after big supply wave. New starts down 70%. Says they will prove their NAV out thru 3rd party transactions. Committed to the dividend.
Chris in Canada 🍁@tsxman
$NXRT showing some signs of life. Was the REIT I added to the most during the YTD downturn. Sunbelt multifamily w/ alot of interest rate sensitivity & stretched div coverage. I see it as an M&A target but would be just as happy if rates fall a bit & lock in 8% yield on a MF name.
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Chris in Canada 🍁 retweetledi
@TheWiseIC @AllWeatherFund I think its a bot. REIT bagholders are useful contras to me so I wouldn't do so otherwise. Agree $Hr.un management self dealed for years inc with $200m internalization. Hofstedter fam aligned with retail and others now equity wise and prob closes up shop. Entry points matter.
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@AllWeatherFund @tsxman Not sure. But you didn’t offend me. We can disagree. Doesn’t bother me.
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REITs are getting smoked today across the board because of the 10 Year. I still maintain my $HR.UN stance and continue to accumulate sub $10 if possible.
I am very optimistic and heavily attracted to the consistent distribution and margin of safety at today’s prices.
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@TheWiseIC @AllWeatherFund Pretty sure you are communicating with a bot. I've seen these guys clone accounts and then they start writing AI substack articles with bits and pieces. In any case half my exposure was green today while the other half was modestly down. Entry points matter.
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@AllWeatherFund @tsxman Both trade at 5 year high multiples and have higher payout ratios. Both won’t transact.
I think there’s a chance HR could transact - Even if it doesn’t, all they have to do is sell off the office component and it’s a high quality US MF+CAN Commercial+CAN Industrial asset base.
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@SA_VanInvestor No. Looks like they bleeding market share in US hence more acquisitions. But probably gonna see more tailwind in Clearwater as PD signalled more E&P are ramping up and they are the go-to directional driller there. Interesting ownership roster. I think it will do well.
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@tsxman Chris are you still long $acx.to going into earnings? I have been adding to my position since the dip in April.
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OFS multiple charts from #CIBC's underwhelming coverage.
$ESI.TO $PTEN $PD.TO $HP $NBR $TOT.TO
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$MRG.UN, CIBC anaysts think the US Sunbelt markets are showing signs of optimism-reversal from March based on Yardi Matrix data. They expect more weakness in Canada given occupancy-rent prices. No position.
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@TheWiseIC @AssetTraveller @matthew14580682 It was closer to 8 last time I checked. Majority of their assets (US multifamilly) can sell at 5~ while industrial can be sold at max ~6.
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@AssetTraveller @matthew14580682 That’s why I own $HR.UN implied cap rate at 7% almost and I don’t have to manage anything. @tsxman
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I’ve debating various Toronto real estate investments and none of them still make any sense on a rent income perspective.
Some big discounts out there though..
wealthmoose@wealthmoose
🇨🇦 #BREAKING: Toronto condo sales have plunged to levels not seen since 1991. 🇨🇦 With "no new project launches" and inventory swelling, the market is at a 35-year standstill. Per CTV/Urbanation, the floor has officially dropped out. The era of the $1M shoebox might be over. 🏠 #ToRe #Housing
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Chris in Canada 🍁 retweetledi
BREAKING: #Alberta has set a new all-time record for average diesel price at 207.1c/L beating out 2022's record of 201.6c/L
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#WorkFromHome is deader then dead:
"...Fidelity Investments has announced plans to move its 80,000 global employees back to the office full-time starting this fall."
Bloomberg@business
Fidelity will require thousands of its US employees to come into the office five days a week, ending a more generous policy that allowed them to work remotely half the month bloomberg.com/news/articles/…
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@yenoms I don't have a precise number, but if I read this right it says 3% of gross rent for remainder of calendar of year per property sold for months under contract. This $ACR has a complete different and punishing management termination structure then $NXRT at a glance.
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@yenoms If the contract is renewed annually with disclosed ~3% gross rent per property sold-terminated how can it be that high? I read the annual report in detail today and it talks about potential internalization. Unless I'm missing something which it is possible I am.
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Chris in Canada 🍁 retweetledi
#BREAKING: U.S. President Donald Trump on Thursday signed an order authorizing the Bridger Pipeline’s proposed project to transport Canadian crude from the U.S.-Canada border to Wyoming. bnnbloomberg.ca/business/inter…
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@TSXDivStock @CarmySports @TheWiseIC More big boy volume. Arguably same RBC buyer who would be around 10% now if same party assuming started out at 0 and inceemental ownership. Will be interesting to see $hr.un voting results later today. Nobody had questions. Open-shut meeting.
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$PUMP now up 265% YoY & 85% YTD. Raises 2026 capex by around ~$100 million with most of the capex dedicated to its aspiring power business, not completion business, which was formerly its 'main' business as a Permian pureplay. Absolutely incredible performance here.
Chris in Canada 🍁@tsxman
Permian pureplay #OFS $PUMP now down ~51% off 2025 highs. Most of their fleet is e-frac or Tier 4 and according to the last call nearly 100% of their fleet on dedicated service agreement. Trading around 2.3x ev/ebitda (presentation from April 1) Is it a buy @EnergyRealist25?
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$PDS / $PD.TO perspective from TD analysts. Says the company facing contract churn in the USA. Canadian rig count higher YoY due to a pick up in heavy oil drilling.
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@Sportellosprea1 The conference call will be fun to listen to for entertainment purposes. I would expect bad results here and I think they will have to eliminate the distribution. Probably not in Q1 but by EOY.
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$AP.UN Q1 this eve. no deep dive from me but still interested in Cdn office. CFO transition ❌ leasing data on site recently reduced ❌ pretty much trading at AIMCo raise of $10. Positive surprises would be positive GTA A class office spilling into Allied 1/X
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