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Stockchase Opinions

Michael MissaghieKimco Realty Corp.KIMWATCHJul 09, 2014

Work with REI.UN-T in a JV. The largest landlord for shopping centers in the US. Their focus over the last few years has been shedding non-core assets. They are 60-70% of the way through simplifying their business. Demand for their properties is starting to pick up. Is turning into a very high quality business.

$23.14

Stock price when the opinion was issued

$24.42

As of Jun 18, 2026. Market Open.

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HOLD

One of the oldest, largest shopping centre REITs in the US. Young, energetic management team focused on redevelopment. Likes the grocery anchor-shopping centre space. More value in other stocks, particularly in Canada with REI.UN or FCR.UN. You can keep owning it for the safe dividend.

COMMENT

One of the few infrastructure companies in the US that is not a Master Limited Partnership, which has negative tax implications for Canadian investors. This is a way you can be invested in energy infrastructure. Behaving extremely well and is within a whisper of its all-time high. Reduced his exposure by about a 3rd because people psychologically could be less favourable because it is attached to energy. Has a little over 4% yield.

SELL
Large US shopping center REIT. Think management lost their way a few years ago and basically panicked during the credit crisis. Diluted shareholders by about 40% at the worst time. US is overvalued relative to Canada. If you own, consider moving to Canada where there are better returns and less risk.