Brad Cutsey of Dundee Securities Corp., who covers real estate investment trusts, has been identified as Canada's best overall stock picker in this year's StarMine Analyst Awards.
The following are his top stock picks
Pure Industrial Real Estate Trust
Management has “done a good job” of growing Canada’s only pure industrial-focused real estate investment trust, says top stock picker Brad Cutsey. “They have met or surpassed my earnings forecast every single quarter, but one since February, 2008.” His one-year target is $5.50 a unit.
InterRent has executed well in upgrading its apartment buildings, but it is now entering a “growth phase,” he said. The REIT, which trades at a discount to an estimated net asset value of $4.95 a unit, will acquire more properties and do the more of the same, he suggested. His 12-month target is $5 a unit.
Allied Properties REIT
This office-property REIT is run by a strong management team, but it’s a story that should play out over the next few years, Mr. Cutsey said. The leasing problems at Allied’s Cité Multimédia property in Montreal are over, and “it should be a significant driver of cash flow growth in the near term,” he added. His one-year target is $29.50 a share.
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