Legacy Finds a Buyer

LEGACY HOTELS REIT $12.37 (Toronto symbol LGY.UN; SI Rating: Extra Risk) has accepted an all-cash takeover offer worth $12.60 a unit from InnVest REIT and a group led by the Caisse de depot et placement du Quebec.

Under the agreement, the Caisse de depot will take… Read More

Legacy Gets Lowball Offers

LEGACY HOTELS REIT $12.11 (Toronto symbol LGY.UN; SI Rating: Extra Risk) has confirmed that it has received several nonbinding takeover offers worth about $12.60 a unit. That’s well below earlier expectations of up to $15, and the units fell 16% on the news.

Legacy shot up… Read More

Legacy Has Room to Grow

LEGACY HOTELS REIT $11.24 (Toronto symbol LGY.UN; SI Rating: Extra Risk) owns 25 luxury hotels with over 10,700 guestrooms in Canada and the United States, including The Fairmont Royal York in Toronto and the Fairmont Le Château Frontenac in Quebec City.

Legacy lowered its losses in… Read More

New Trust Tax Hits RRSPs & Foreigners

Starting in 2011, Ottawa will impose a tax on income trust distributions that will put the income trusts on an equal tax footing with conventional taxable corporations. Trusts will pay a 31.5% tax on distributions to unit holders, so your cash flow from those trusts… Read More

LEGACY HOTELS REIT $9.43 Toronto symbol LGY.UN

LEGACY HOTELS REIT $9.43 (Toronto symbol LGY.UN; SI Rating: Extra Risk) owns 25 luxury hotels with over 10,700 guestrooms in Canada and the United States, including The Fairmont Royal York in Toronto and the Fairmont Le Château Frontenac in Quebec City.

In the three months ended… Read More

Legacy Offers Good Value

LEGACY HOTELS REIT $8.15 (Toronto symbol LGY.UN; SI Rating: Extra Risk) owns 24 luxury hotels with over 10,700 guestrooms in Canada and the United States, including The Fairmont Royal York in Toronto and the Fairmont Le Château Frontenac in Quebec City. Fairmont Hotels & Resorts… Read More

We Like Most of This Fund’s REITs

IUNITS S&P/TSX CAPPED REIT INDEX FUND $14.22 (Toronto symbol XRE; buy or sell through a broker) holds 12 Canadian real estate investment trusts (REITs). In the Capped REIT Index, the weight of any one REIT, in terms of market capitalization (unit price times units outstanding),… Read More