TRADE ALERT - Core & International Portfolio August 2024

Dear Landlords,

I want to extend a warm welcome to all our new members! We recommend that you start by reading our Welcome Letter by clicking here. It explains why we invest in real estate through REITs and how to get started.  

As a reminder, our most recent "Portfolio Review" was shared with the members of High Yield Landlord on July 3rd, 2024, and you can read it by clicking here.

You can also access our three portfolios via Google Sheets by clicking here.

New members can start researching positions marked as Strong Buy and Buy while taking into account the corresponding risk ratings.

If you have any questions or need assistance, please let us know.

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TRADE ALERT - Core & International Portfolio August 2024

I wasn't planning on posting a Trade Alert today, but two new opportunities just popped up and I couldn't pass up on them. 

Firstly, most Apartment REITs are today surging following their surprisingly strong Q2 results. However, BSR REIT (HOM.U:CA / BSRTF) completely missed out on this rally, likely because it is primarily traded in Canada:

Data by YCharts

But despite being listed in Canada, BSR owns almost exclusively properties in Texas, and therefore, this divergence in performance in an anomaly. Canadian investors are just slower to respond to the latest news and it is providing us an opportunity to buy more shares before they eventually recover. We just bought another 200 shares, expanding our position size by 5%:

The shares are still priced at a 30%+ discount to their NAV, but likely not for much longer. 

You can read our full investment thesis by clicking here.

You can read our CEO interview by clicking here.