TD has a much more positive view of the $BCE.TO tower deal, raises target $4.

The Morguards start reporting this week, with $MRG.UN tonight and $MRT.UN tomorrow. For MRG, I expect flatish FFO, but they should announce an increase to the distribution as in past years (payout under 50% YTD). MRT will likely show good growth, and an update on refinancing.

Big tower deal announced by $BCE.TO today is greeted by the market with a big yawn. Scotia analyst says they will likely 'recycle' (spend) the money in short order.

Highliner getting bought out - cash deal, 79% premium! Small cap dividend stock I missed unfortunately. $HLF.TO highlinerfoods.com/news/item…

TD initiates coverage on A&W. Long track record, growth potential, and 5.5% yield. $AW.UN

Rogers puts FCF ahead of subscriber growth. Hope the market appreciates the wisdom in that approach. $RCIb.TO Rogers Communications Reports Third Quarter 2026 Results globenewswire.com/news-relea…

I haven't posted about AltaGas in awhile, but this caught my eye. RBC making big upward revisions, now forecasting a 27% jump in EBITDA for Q3. $ALA.TO

$PLZ.UN closed today at $5.30, slightly above the unsolicited offer of $5.28, implying the market is expecting a deal at $5.50 or more? That may be a bit aggressive as the REIT sector has dipped meaningfully (and $MRC.TO, the largest holder, said they would sell at $5.28).

This should take some of the pressure off Toronto residential REITs $CAR.UN, $MRG.UN

NBF upgrades CT REIT - low debt level gives it an advantage in current environment. Well covered 5.7% yield $CRT.UN

In a new note TD analysts detail the numerous problems with the H&R transaction, and set out the better alternatives if the deal is rejected. Apparently six institutional unitholders now publicly saying they will vote against. Snippet below, the deal is clearly unfair. $HR.UN

Don’t forget to vote $HR.UN

Another (3rd?) institutional investor makes a public statement that they will vote against the H&R deal. $HR.UN Sandpiper Group Announces Its Opposition to H&R's Proposed GO Residential Transaction prn.to/4BbNoM3

US CPI was higher than expected yesterday, but by the end of the day, yields were down. Now today the PPI is much higher, and the US 10-yr is down another 14 bps?! I think it was Peter Lynch who said if you spend 15 minutes a year thinking about macro you've wasted 10 minutes.

TD analyst cuts target prices for mortgage lenders on negative sentiment (no change to estimates). 🙄 Also, he seems to be having a problem with math. Timbercreek pays 69c in annual div, which does not get a $5.50 target at a 10.5% yield. $TF.TO

Last week's Starlink news pummeled telecom stocks. The threat to incumbent cellphone providers is debatable, and highly uncertain for Canada. Comments below from NBF. $BCE.TO, $T.TO, $RCIb.TO (and $CGO.TO now with a 8.8% yield! And a dividend increase expected this month)

RBC does a nice job a reviewing the errors and lack of fairness in the H&R/GO deal. And also highlights something mostly overlooked, the $436 million land sale. Just kill the deal, and use the proceeds of the land sale to buy back units = 17% FFO/unit accretion! $HR.UN

NBF latest Dividend All-Stars. They have a great track record with this list, and it’s always useful for new ideas.

This H&R circular is a painful read. $HR.UN received a $12.50 cash offer last year, when the units were trading at $10.65. Now we are looking at a garbage non-cash deal and trading at $9.40. The entire board should be fired.

Timbercreek Financial $TF.TO yield now over 13%, company must be in big trouble. Oh, hold on, the CEO is buying more! 🧐