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Opinions Greg Newman
Primaris REITPMZ.UN.TOBUYOct 01, 2012
Greg NewmanStock price when the opinion was issued
As of Jun 18, 2026. Market Open.
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Brian Madden
Fundamentals are good. Leasing spreads were up 8.7% last quarter. H&R Reit (HR.UN-T) has made a bid to acquire them and it looks like this will go through. If this still works, the economy is going to have to be good for retail. H&R is probably going to be coming to market to issue equity. Fundamentals are still in place for REITs.
Greg NewmanOffer made for $26, but he feels it is worth $28-$29. Enclosed shopping malls in Canada. Thinks the portfolio has a lot of value. Target is taking up a lot of locations in their malls. He would prefer it to continue to trade.
Michael MissaghieFairly well distributed portfolio. Bought two malls recently and they are doing the right things. Got an upgrade to investment grade status. 5-5.5% dividend and modest capital appreciation. He prefers larger companies like REI.UN-T. They have access to capital and had quite a sell off.
(Market Call Minute.) Feels the street is underestimating the impact that Target is going to have when they move in. It will represent about a 3rd of their overall square footage.
Andy Nasr(A Top Pick Aug 4/11. Up 28.23%.) The only predominantly mall REIT in Canada. Haven’t done anything overly spectacular in the last year but it was cheap. Still sees some upside.
Dennis Mitchell, CFADennis Mitchell, CFADennis Mitchell, CFA
Dennis Mitchell, CFA
Still has some upside here. Their quarter came in better than he thought. He was concerned that they would have issues with their tenant backfill being a bit down but was better than he thought. Balance sheet is very unlevered. Feels they are locked and loaded to do acquisitions and grow.