Latest Stock Advice
Top pick Barrick Mining just raised its dividend a whopping 140% as it generates record earnings and continues its strategic asset reorganization.
These aren’t space startups: discover 7 dividend-paying aerospace and defense contractors tied to NASA’s Artemis mission (from TSI’s latest Globe and Mail column).
Top pick Linamar Corp. is trading cheaply despite delivering higher sales and profits.
Gen Digital Inc. is trading quite cheaply for a firm that just grew revenue nearly 26% while providing plenty of cash flow for innovation, dividends and buybacks.
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When a company carries out a spinoff, it sets up one of its subsidiaries as a separate firm, then hands out shares in the new company to its own shareholders. I can still say without reservation that spinoffs are the closest thing you can find to a sure thing in the world of investing. Study after study has shown that after an initial adjustment period of months—not years—spinoffs tend to outperform groups of comparable stocks. (For that matter, the parent companies also tend to outperform comparable firms for several years afterwards.) There are a couple of reasons for that. First, company managers naturally prefer to acquire or expand their assets, not get rid of them. Getting rid of businesses reduces a company’s total potential profit. The management of a parent company will only hand out a subsidiary to its own investors if it’s nearly certain that the subsidiary, and the parent, will be better off after the spinoff....
First National Financial Corp., $28.80, symbol FN on Toronto, (Shares outstanding: 60.0 million; Market cap: $1.8 billion; www.firstnational.ca), is Canada’s largest non-bank originator and underwriter of residential mortgages. It held $94.3 billion in mortgages under administration as of March 31, 2016. The company focuses its lending on mortgages for single-family homes and small apartment buildings. It has a limited number of commercial loans. First National was an income trust in May 2006 when it sold units to the public at $10 each and began trading on the Toronto Exchange. It then switched over to a conventional corporation on January 1, 2011. To free up capital for new lending, the company sells its mortgages to financial institutions. It also securitizes those loans by packaging them together and selling them as mortgage bonds. That securitization tends to lower earnings in the short term, but offers higher profit in the long term....
Slate Retail REIT, $13.97, symbol SRT.UN on Toronto (Units outstanding: 35.4 million; Market cap: $459.9 million; www.slateretailreit.com), owns 66 retail malls in 20 U.S. states. In all, those properties contain 7.7 million square feet. Slate’s overall occupancy rate was a high 94.4% as of March 31, 2016. The REIT took its current form on April 15, 2014. That’s when Slate Asset Management L.P. reorganized its publicly traded operations. This firm owns 6.7% of Slate Retail and manages the REIT....