Tricon Residential Inc T.TCN

Better in 2024?

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I need to gradually raise cash over the next 6 months and am operating on the assumption that interest rates will begin a to decline in late Q1, I would only like to sell those holdings that are less likely to do well in a declining interest rate environment. Please rank each of these holdings from "Sell Now - least likely to benefit from a declining rate environment" to "Avoid Selling - should do very well in a declining rate environment". AQN, BCE, BN, BNS, DSG, ENB, GSY, KXS, NTR, PBH, TCN, TD.

We like the majority of the holdings and think most of them will do well in a declining rates environment. We think companies that would do particularly well in that situation are BN, DSG, ENB, GSY, KXS and TCN.

One company that we think is closer to the "sell now" category is AQN – higher-risk name due to a highly leveraged balance sheet. (5iResearch)