Latest Stock Advice
Sun Life Financial Inc. and Manulife Financial Corp. each offers a combination of solid earnings growth, ongoing share repurchases, and impressive dividend yields.
Groupe Dynamite Inc. is a high‑quality specialty retailer with gains ahead.
Teck Resources Ltd. is a solid bet on higher copper prices with its big merger winning approvals
Toromont Industries Ltd. should see continued earnings growth thanks to its leading market share and Canada’s plan to increase spending on infrastructure projects.
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A Member of Pat McKeough’s Inner Circle asked for his advice on an ETF that focuses on Canadian finance firm common shares, preferred shares and corporate bonds.
Pat likes the high distribution rate but warns that rate may be unsustainable....
Pat likes the high distribution rate but warns that rate may be unsustainable....
ALLIED PROPERTIES REAL ESTATE INVESTMENT TRUST $34.30 (Toronto symbol AP.UN; Units outstanding: 77.9 million; Market cap: $2.7 billion; TSINetwork Rating: Extra Risk; Dividend yield: 4.3%; www.alliedreit.com) owns 146 office buildings, mostly in major Canadian cities. These mainly Class I properties contain over 10.5 million square feet of leasable area. Class I refers to 19th- and early-20th-century industrial buildings that have been converted to retail space. They usually feature exposed beams, interior brick and hardwood floors.
Allied spent $400 million acquiring properties in 2012, $182.4 million in 2013 and $234.9 million in 2014. In the first half of 2015, it added three more for $136.1 million.
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RIOCAN REAL ESTATE INVESTMENT TRUST $25.78 (Toronto symbol REI.UN; Units outstanding: 318.8 million; Market cap: $8.1 billion; TSINetwork Rating: Average; Dividend yield: 5.5%; www.riocan.com) is Canada’s largest real estate investment trust.
In the three months ended June 30, 2015, RioCan’s revenue rose 6.3%, to $322.3 million from $303.2 million a year earlier. Cash flow per unit gained 2.4%, to $0.42 from $0.41.
The trust has now agreed to unwind its 50/50 joint venture with U.S.-based Kimco Realty. This business manages 35 malls across Canada.
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In the three months ended June 30, 2015, RioCan’s revenue rose 6.3%, to $322.3 million from $303.2 million a year earlier. Cash flow per unit gained 2.4%, to $0.42 from $0.41.
The trust has now agreed to unwind its 50/50 joint venture with U.S.-based Kimco Realty. This business manages 35 malls across Canada.
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SUN LIFE FINANCIAL $44.38 (Toronto symbol SLF; Shares outstanding: 610.6 million; Market cap: $27.0 billion; TSINetwork Rating: Above Average; Dividend yield: 3.4%; www.sunlife.ca) continues to expand in the U.S. At the same time, it’s cutting its risk by focusing on highly profitable niche markets with low capital reserve requirements.
In June 2015, the company bought U.S....
In June 2015, the company bought U.S....
BANK OF NOVA SCOTIA $60.29 (Toronto symbol BNS; Shares outstanding: 1.2 billion; Market cap: $72.2 billion; TSINetwork Rating: Above Average; Dividend yield: 4.6%, www.scotiabank.com) is the third-largest of Canada’s five big banks, with $863.1 billion of assets.
In its fiscal 2015 third quarter, which ended July 31, 2015, the bank earned $1.85 billion, up 2.8% from $1.80 billion a year earlier. Earnings per share rose 3.6%, to $1.45 from $1.40, on fewer shares outstanding.
Revenue fell 5.6%, to $6.1 billion from $6.5 billion, but that was mainly because Bank of Nova Scotia sold most of its shares in mutual fund provider CI Financial (Toronto symbol CIX) in 2014. Earnings at the Canadian banking division (49% of the total) rose 14.9% on improving loan and deposit growth. The international business (30%) saw its earnings rise 10.5%, thanks to strong loan demand in Latin America and favourable currency rates.
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In its fiscal 2015 third quarter, which ended July 31, 2015, the bank earned $1.85 billion, up 2.8% from $1.80 billion a year earlier. Earnings per share rose 3.6%, to $1.45 from $1.40, on fewer shares outstanding.
Revenue fell 5.6%, to $6.1 billion from $6.5 billion, but that was mainly because Bank of Nova Scotia sold most of its shares in mutual fund provider CI Financial (Toronto symbol CIX) in 2014. Earnings at the Canadian banking division (49% of the total) rose 14.9% on improving loan and deposit growth. The international business (30%) saw its earnings rise 10.5%, thanks to strong loan demand in Latin America and favourable currency rates.
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