OTCQX:PMULF - Post by User
Comment by
Aggirl7on Dec 15, 2017 7:50pm
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RE:RE:RE:price slide
RE:RE:RE:price slideRUF has been killed by tax loss selling these past few weeks. There are relatively few non-commodity space names with big declines this year. Fund managers have been dumping whatever they can to offset their capital gains. RUF is a good pick for tax loss selling given its share price has never recovered from the multiple equity issues it did this year - it takes time for the market to stop choking on all those extra shares.
I see potential for a sharp near-term +ve correction on this one. The company posted good improvement in occupancy last quarter, costs will be reduced materially next year by the recent internalizing of property management, the stock will move to the TSX main board in January, the divvy is juicy and safe... and let's not forget the reason why RUF raised all that equity - 6 property acquisitions in Phoenix and Dallas. The U.S. housing market outlook is strong and RUF should post good earnings growth next year.
BNN had a fund manager on today talking about tax loss selling - he speaks briefly on RUF just before the 5 min mark (see link below).
BNN clip on tax loss selling