TSX:GRT.UN - Post by User
Post by
LTOWNERon Mar 26, 2012 8:51am
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Post# 19716857
Analysts Like It!
Analysts Like It! I agree this is a buying opportunity. Not sure why the conversion to a REIT has not been completed. REITs tend to do well over the summer months when other stocks languish and MIM should move up on news of becoming a REIT and/or diversification of its assets beyond Magna.
March 9th, 2012 MIM was recommended as a "Top Pick" for the third time by Veronika Hirsch while trading at $37.00. She said: "Are going to convert into a REIT. Either will joint venture Magna assets with other parties or get non-Magna assets into their portfolio. It will be more diversified over time. Have a balance sheet that allows them to do that. It’s a developing story. 5.7% yield with room to increase it as they get the portfolio the way they want it."
Since early November, 2011, MIM has also been chosen as a "Top Pick" twice by Jim Huang (Targets $40 & $45), Richard Fogler (Target $43), & Michael Smedley and as a "Buy" by Charles Dillingham and Andy Nasr. RBC has a $40 target and an "Outperform" rating.