Post by
ScroogeMcDuck1 on Jan 05, 2024 11:56am
Narrative is…
Aggressive rate cuts might be a bit overblown in the US. Canada still weak. But directionally the accumulation of rate sensitive equities is still underway, more a matter of pace. The market has gobbled up the good stuff first, and the weaker things waver. Tnt stalling out, prv and nxr good to go.
Comment by
ScroogeMcDuck1 on Jan 05, 2024 12:01pm
Edit, prv and mpct still running. Ax is in the buy zone as well, good yield and recent transaction news.
Comment by
InvestSmarter on Jan 05, 2024 12:57pm
MPCT is oversold for a residential focused REIT and the quality. Should be over $10. They cut last year so I assume yield is safe. Yield is almost 10%. PRV high yield still. Need to replace bonds and money markets with these reits at high yields. Makes sense for them to drop to 7-8% yields (higher prices to come).
Comment by
garyreins on Jan 05, 2024 12:02pm
Not sure about that...fan favorites like PMZ and Riocan are still below most of where they traded at in 2023,
Comment by
ScroogeMcDuck1 on Jan 05, 2024 12:05pm
Oh yeah, agree its not great by any stretch. There is danger in the markets for sure with rate sensitive stocks still, but I believe we are witnessing nibbling at least. If markets move 6 months before a cut then we are in the zone. Bond yields are topping out in the low 4% us ten year, and downward pressure seems limited from that