RE: This stock is rockinDon't sell yet . . . following is comment from a holder who posted on Trusts board at IV, just his opinion but I agree and I now have a double on this reit.
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No sellers at Dundee
Ihad to up my bid significantly to buy in size today, Dundee is the last(soon to be diversified REIT) with double digits yield (today it wouldbe in single digits if it closes at current levels), as I mentioned fewweeks back their decision to make major purchases in Toronto hasaddressed the Calgary concentration discount, further more the strengthin energy prices is not hurting either, my guess the units are headingfor a 7% to 8% yield in the near future, and possibly under 7% withinfew months, this means the units will probably be in the low $30s bySpring.
They have excellent liquidity, several unencumberedassets and I consider the management very astute, their transactionwith GE at the top of the market in 2007 is a testimony to theirskills, while their management contract is quite expensive and to theirbenefit, I believe they will deliver, in the last conference callM.Cooper mentioned that they are aiming for $400m to $600m per year intransactions over the next few years, it is likely they will grow intoa multi-billion dollar Reit by 2011 to 2013, I do expect however theywill raise cash along the way as the shares get more expensive, thusthis will cap the upside to an extent, over the mid term (2 to 3 years)however a double from current levels is possible.
Regards,
Nawar "