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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks -- Ignore unavailable to you. Want to Upgrade?

To: David Alon who wrote (2562)	1/31/2002 6:17:24 AM
From: David Culver	Respond to of 11633

K Mart is much less significant in Canada than the U.S. If Riocan has any KMart it is a very very percent for them. I would be surprised to see riocan under $11 many of the new units may be paying higher now but they do not have a track record like riocan

To: David Alon who wrote (2562)	1/31/2002 11:58:19 AM
From: bill	Read Replies (1) \| Respond to of 11633

I think most, if not all, KMarts in Canada, of which there were many at one time, have shut down. KMart retreated to the US. My point wasn't that the trust had malls with KMart --that I don't know--but rather KMarts filing for protection has created some nervousness in the sector. The REITs with shopping malls have been claiming gauranteed, long term payments, stability, etc. KMarts problems have undermined that somewhat. In this small city we have seen Woodwards, Eatons, KMart all disappear. These were, at one time, highly successful retailers with a presence in malls. They were the anchor stores. There is an article today about reits that hold commercial real estate and that their claims to stability might not be as sound as they were awhile ago. There is also an article out about TrizecHahn and its attempt to go the REIT route. Not smooth sailing there. If the report that I read that said the risk in trust units is high enough that they need to pay twenty percent then there are a lot of overpriced trusts out there. I now own a fair number of trusts because they return on GICs is a bad joke. I had one ready to roll over and was offered 1.8 percent. I've looked at a number of companies and their projected profits and I don't know where anyone thinks an annual 20% is going to come from. I read two sets of brokers reports every morning and for every buy there are 3-5 hold or sells. Even the buys are not predicting profits of 20%. Abitibi is a buy but its profits fell 97%. Could be good two quarters from now if pulp and paper increase in price. That's a big IF.