Sir Royalty Income Fund T.SRV.UN

Alternate Symbol(s): SIRZF

Consumer Cyclical Restaurants

SIR Royalty Income Fund (the Fund) holds investment in SIR Corp (SIR). The Funds' investment, SIR is engaged in the business of owning and operating full-service restaurants in Canada. SIR has concept restaurant brands, including Jack Astor’s Bar and Grill, Scaddabush Italian Kitchen & Bar, and Canyon Creek Chop House, signature restaurant brands, such as Reds Wine Tavern, Reds Midtown Tavern, Reds Square One, and The Loose Moose, which are used by SIR under a license agreement with SIR Royalty Limited Partnership (the Partnership. The Fund receives distribution income from its investment in the Partnership and interest income from the SIR Loan. The Fund indirectly participates in the revenues generated under the License and Royalty Agreement through its Investment in the Partnership.

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Sir Royalty Income Fund > 2019 again

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Comment by flamingogoldon Dec 04, 2022 7:37pm

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Post# 35149872

RE:RE:2019 again

I agree it's fully valued but I thought so too at $13.

I was blown away by the traffic I saw this weekend. I think the froth may have more bubbles left. Remember, when the stock dropped, I thought $3 was a bargoon and yet it fell another 50%! Stocks always overshoot in both directions, we just never know where the bottom or top really is.

Looking out, I would like to see Scaddabush expand further out of Ontario in future years once recession fears are past. But, as far as recession goes, I don't think it will have deep claws. The ones who will suffer the most are the FOMO real estate buyers during covid and they are likely priced out and not regular patrons anyway.

babedinkleman wrote:

flamingogold wrote: This week I had to make my way to the US and visited a sports bar & grill called Art & Jake's and somewhat on par with a Jack's. Time was around 7 pm. I have been before and previously I could just show up. This time, there was a wait list of 30 minutes... first time since pre-covid this has occured. The place was absolutely packed. There was no special event, just people out enjoying themselves with friends and family. It felt like 2019 again.

Although it must have felt like before 2019 really......in 2019 most of these places were struggling with declining SSSG and SRV dropped to 7 or 8 bucks a share.....having to reduce the dividend long before anyone heard of covid. What a difference a plandemic can make....lol.
Amazing run this has had though for those like you who bought at the lows. I did too....but flipped far too early. I'd say today it's more than fully valued but I thought that at $13 so take that for what it's worth. I do have concerns the 'after covid' freedom euphoria will wear off at some point moving forward so keep that in mind with some stocks like these. With yield now being under 7% now it's definitely looking frothy compared to some others maybe not so reliant on discretionary spending possibly moving into a recession.