These two targets need to cut their debt

Thanks to acquisitions, these two firms now carry high debt burdens. In response, activists want them to sell assets and pay down debt. We agree with the activists, but these two firms will probably resist their pressure.
GFL ENVIRONMENTAL INC. $42 is a hold. The company (Toronto symbol… Read More

Spinoff lifts investor appeal and income

H&R REIT spun off its retail properties to Primaris in 2022. The move lets both REITs better focus on their main businesses, and they have since raised your distributions.
H&R REAL ESTATE INVESTMENT TRUST $9.21 is a buy. The REIT (Toronto symbol HR.UN; Cyclical-Growth Dividend Payer Portfolio, Manufacturing… Read More

Get 5.9% yield from H&R REIT

Get 5.9% yield from H&R REIT

In January 2022, H&R REIT spun off most of its retail properties to Primaris REIT. Unitholders received one unit of Primaris for every four units of the original REIT they held. At that time, the parent REIT investors held 74% of Primaris, while the Healthcare… Read More

Spinoffs & Takeovers Hotline – Friday, June 30, 2023

CASELLA WASTE SYSTEMS INC., $90.45, symbol CWST on Nasdaq, is a Vermont-based waste management company that services seven Northeastern U.S. states (Vermont, New Hampshire, New York, Massachusetts, Connecticut, Maine and Pennsylvania) through 50 collection operations, 26 recycling facilities, 9 disposal facilities, 3 landfill gas-to-energy facilities,… Read More

This REIT rewards its investors

PRIMARIS REAL ESTATE INVESTMENT TRUST $13 is a buy. The REIT (Toronto symbol PMZ.UN; Manufacturing sector; Units outstanding: 96.9 million; Market cap: $1.3 billion; Distribution yield: 6.3%; Takeover Target Rating: Medium; www.primarisreit.com) owns 35 enclosed and open-air shopping malls in Canada. The occupancy rate is 87.5%.
In January 2022, H&R… Read More

This new REIT pays a high yield

PRIMARIS REAL ESTATE INVESTMENT TRUST $13 is a buy. The REIT (Toronto symbol PMZ.UN; Cyclical-Growth Dividend Payer Portfolio, Manufacturing sector; Units outstanding: 98.9 million; Market cap: $1.3 billion; Distribution yield: 6.3%; Dividend Sustainability Rating: Average; www.primarisreit.com) owns 35 enclosed shopping malls in Canada. The occupancy rate is 91.1%.
In January… Read More

Two REITs for spinoff gains and income

In January 2022, H&R REIT spun off most of its retail properties to Primaris REIT. Unitholders received one unit of Primaris for every four H&R units they held. At that time, H&R investors held 74% of Primaris, while the Healthcare of Ontario Pension Plan (HOOPP)… Read More