How To Invest
In addition, Pat thinks then beginner investors should cultivate two important qualities: a healthy sense of skepticism and patience.
Investors should approach all investments with a healthy sense of skepticism. This can help keep you out of fraudulent stocks that masquerade as high-quality stocks. It will also keep you out of legally operated, but poorly managed, companies that promise more than they can possibly deliver.
If you are a new investor, you should also realize that losing patience can cause you to sell your best choices right before a big rise. All too often, investors buy a promising stock just as it enters a period of price stagnation. Even the best-performing stocks run into these unpredictable phases from time to time. They move mainly sideways in a wide range for months or years before their next big rise begins. (Stock brokers often refer to these stocks as “dead money.”)
If you lack patience, you run a big risk of selling your best choices in the midst of one of these phases, prior to the next big move upward. If you lose patience and sell, you are particularly likely to do so in the low end of the trading range, when stock prices have weakened and confidence in the stock has waned.
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CANADIAN REIT $44.81 (Toronto symbol REF.UN; Units outstanding: 68.2 million; Market cap: $3.1 billion; TSINetwork Rating: Extra Risk; Dividend yield: 3.3%; www.creit.ca) owns over 190 properties, including retail, industrial and office buildings, across Canada and in Chicago. These holdings contain over 19.3 million square feet of leasable area. The trust’s occupancy rate is 94.8%.
In the three months ended September 30, 2012, Canadian REIT’s revenue rose 13.1%, to $94.7 million from $83.7 million a year earlier. Cash flow per unit rose 11.7%, to $0.67 from $0.60.
Canadian REIT added $308.4 million of properties in the first three quarters of 2012, including two office buildings, a further investment in the Dartmouth Crossing (Atlantic Canada’s largest unenclosed mall) and the completion of several development projects. That total also included its $156.0- million purchase of a 50% interest in Calgary Place, a 575,000-square-foot office and retail complex.
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In the three months ended September 30, 2012, Canadian REIT’s revenue rose 13.1%, to $94.7 million from $83.7 million a year earlier. Cash flow per unit rose 11.7%, to $0.67 from $0.60.
Canadian REIT added $308.4 million of properties in the first three quarters of 2012, including two office buildings, a further investment in the Dartmouth Crossing (Atlantic Canada’s largest unenclosed mall) and the completion of several development projects. That total also included its $156.0- million purchase of a 50% interest in Calgary Place, a 575,000-square-foot office and retail complex.
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ALLIED PROPERTIES REAL ESTATE INVESTMENT TRUST $34.39 (Toronto symbol AP.UN; Units outstanding: 64.0 million; Market cap: $2.2 billion; TSINetwork Rating: Extra Risk; Dividend yield: 4.0%; www.alliedpropertiesreit.com) owns 126 office buildings, mostly in major Canadian cities. These mainly Class I properties contain over 9.1 million square feet of leasable area.
Class I refers to 19th- and early-20th-century light industrial buildings that have been converted to office and retail space. They usually feature exposed beams, interior brick and hardwood floors.
The trust bought $456 million worth of properties in 2011. In the first three quarters of 2012, it added a further $300 million of acquisitions. Allied has a 92.1% occupancy rate.
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Class I refers to 19th- and early-20th-century light industrial buildings that have been converted to office and retail space. They usually feature exposed beams, interior brick and hardwood floors.
The trust bought $456 million worth of properties in 2011. In the first three quarters of 2012, it added a further $300 million of acquisitions. Allied has a 92.1% occupancy rate.
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BANK OF NOVA SCOTIA $58.80 (Toronto symbol BNS: Shares outstanding: 1.2 billion; Market cap: $70.6 billion; TSINetwork Rating: Above Average; Div. yield: 3.9%, www.scotiabank.com) is the third-largest of Canada’s five big banks, with assets of $668.0 billion.
The bank earned $1.18 a share in its fiscal fourth-quarter ended October 31, 2012. That’s up 21.6% from $0.97 a share a year earlier. Revenue rose 15.1%, to $4.9 billion from $4.2 billion.
Higher demand for loans and an increase in deposits pushed up the Canadian banking division’s earnings by 14.8%. This includes the contribution of ING Direct, which Bank of Nova Scotia bought for $3.1 billion late last year. ING Direct offers a wide variety of no-fee banking services, mainly over the Internet. It has 1.8 million customers and $30 billion of deposits.
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The bank earned $1.18 a share in its fiscal fourth-quarter ended October 31, 2012. That’s up 21.6% from $0.97 a share a year earlier. Revenue rose 15.1%, to $4.9 billion from $4.2 billion.
Higher demand for loans and an increase in deposits pushed up the Canadian banking division’s earnings by 14.8%. This includes the contribution of ING Direct, which Bank of Nova Scotia bought for $3.1 billion late last year. ING Direct offers a wide variety of no-fee banking services, mainly over the Internet. It has 1.8 million customers and $30 billion of deposits.
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Pat McKeough responds to many personal questions about investing in stocks and other topics on investment and the economy from the members of his Inner Circle. Every week, his comments and recommendations on the most intriguing questions of the past week go out to all Inner Circle members. And each week, we offer you one of the highlights from these Q&A sessions. While we reserve our buy-hold-sell advice for Inner Circle members, these excerpts provide a great deal of information and analysis on stocks we’ve covered for members of Pat’s Inner Circle. This week, Pat received a question from an Inner Circle member about a stock that provides a different approach to excavating for the petroleum and utility industries. Pat assesses the company’s unique arrangement with its operating partners and whether or not it can continue to improve its results in a recovering economy....
METRO INC. (Toronto symbol MRU; www.metro.ca) has moved up sharply in the past few months. That’s mainly because it is taking steps to unlock some of its hidden value, including selling some of its investments....
TIM HORTONS (Toronto symbol THI; www.timhortons.com) operates 3,365 coffee-and-donut shops in Canada, 755 in the U.S. and 18 in the Middle East. The company’s new menu items, such as lattes and panini sandwiches, continue to sell well. In addition, Tim Hortons now offers free Wi-Fi Internet access at its Canadian outlets. That’s helping it compete with bigger fast-food chains like McDonald’s, which is aggressively promoting its coffee in Canada....
ARCHER DANIELS MIDLAND CO. (New York symbol ADM; www.adm.com) processes corn, wheat, soybeans, canola, flax seed, peanuts, cocoa and other crops into a variety of food ingredients, such as flour, oils and sweeteners. It is also the largest maker of ethanol from corn in the U.S. In its fiscal 2013 first quarter, which ended September 30, 2012, the company earned $182 million, or $0.28 a share. That’s down 60.4% from $460 million, or $0.68 a share, a year earlier. Lower profits from its ethanol business offset higher earnings from its oilseeds operations. Revenue fell 0.4%, to $21.8 billion from $21.9 billion....
Pat McKeough responds to many personal questions about investing in stocks and other investment topics from the members of his Inner Circle. Every week, his comments and recommendations on the most intriguing questions of the past week go out to all Inner Circle members. And each week, we offer you one of the highlights from these Q&A sessions. While we reserve our buy-hold-sell advice for Inner Circle members, these excerpts provide a great deal of information and analysis on stocks we’ve covered for members of Pat’s Inner Circle. This week, an Inner Circle member asked us about an industrial stock that is making its name in several fields, but especially in hydraulic fracturing or “fracking” for the oil and gas industry. As the company’s sales and earnings keep rising, Pat examines the prospects for this stock that has been trading for less than a year. ...
Every Wednesday, we publish our “Investor Toolkit” series on TSI Network. Whether you’re a new or experienced investor, these weekly updates are designed to give you specific advice on successful investing, including the best approach to investing in real estate. Each Investor Toolkit update gives you a fundamental tip and shows you how you can put it into practice right away....
TELUS $64.54 (Toronto symbol T.A; Sharesoutstanding: 324.9 million; Market cap: $21.0billion; TSINetwork Rating: Above Average;Dividend yield: 4.0%; www.telus.com) hasreceived approval from the B.C. Supreme Courtto convert its 151 million non-voting class Ashares into regular common shares (which haveone vote each) on a one-for-one basis.Shareholders have already approved the plan.
The plan will dilute common shareholders’voting power. However, it will let the commonshares trade on the New York Stock Exchange;right now, only the non-voting shares trade onNew York. That should make the commonshares more liquid.
The company will probably complete theconversion in January 2013. Until then, thenon-voting shares will likely trade at a slightdiscount to the common shares, even thoughthey receive identical dividends.
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The plan will dilute common shareholders’voting power. However, it will let the commonshares trade on the New York Stock Exchange;right now, only the non-voting shares trade onNew York. That should make the commonshares more liquid.
The company will probably complete theconversion in January 2013. Until then, thenon-voting shares will likely trade at a slightdiscount to the common shares, even thoughthey receive identical dividends.
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