Topic: How To Invest

What do you think of Homburg Canada REIT? Thank you.

Article Excerpt

Homburg Canada REIT, $11.45, symbol HCR.UN on Toronto (Units outstanding: 39.7 million; Market cap: $454.9 million; www.homburgcanadareit.com), owns 120 income-producing properties across Canada. These holdings include 6.9 million square feet of commercial leaseable area and 1,725 multi-family residential units. Homburg’s higher-profile holdings include Place Alexis Nihon and the CN Central Station Complex in Montreal, the Confederation Court Complex in Charlottetown and an interest in the PennWest Plaza in Calgary. Homburg Canada began trading in May 2010 at $10 per unit. The real estate investment trust has a yield of 8.3%. In the three months ended December 31, 2010, Homburg earned $6.2 million, or $0.17 a share, on revenue of $39.9 million. There are no comparable year-earlier results. Homburg continues to grow steadily, mainly by buying properties. It recently announced that it will pay $96 million for three shopping centres, two in the Greater Montreal Area and one in Quebec City. Together, the three properties will increase Homburg’s leasable area by about 8.3%,…