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Paul Harris.
Paul Harris.

BNN MARKET CALL

Three top stock picks from Avenue Investment’s Paul Harris Add to ...

Paul Harris is partner and portfolio manager at Avenue Investment Management. His focus is North American and global equities.

Top Picks:

Mainstreet Equity Corp.

Mainstreet is a real estate company that has properties in western Canada in the apartment space . The stock trades at a 15-per-cent discount to its NAV.

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Regions Financial

Regions is a commercial and retail bank in the southeast United States. The stock trades at .7 times book value and a 10.6 times earnings. The company will benefit from a continuing improvement of the U.S. housing market and a continued reduction in cost.

Leon’s Furniture Ltd.

Leon’s sell furniture and appliances. It is a great Canadian brand that has a 3.0-per-cent yield and trades a 11.9 times earnings. A conservative estimate of the property they own is $6 a share. The company purchase of The Brick Ltd. should lead to further growth in the next several years.

Past Picks: December 27, 2012

Davis + Henderson Corp.

Then: $21.30; Now: $28.99; Total return: +43.40 per cent

Bank of America

Then: $11.47 (U.S.); Now: $17.01; Total return: +48.74 per cent

Brookfield Asset Management Inc.

** SPIN OFF** Brookfield Property Partners

Then: $36.11; Now: $41.86; Total return: +21.65 per cent

Total return average: +37.93 per cent

Market outlook:

We think the opportunity is increasing in companies that can achieve good total return – a good dividend yield accompanied by strong balance sheets and high cash flow cover. In a low inflation environment these stock are likely to remain attractive.

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