Hey guys! The business week is over and I would like to summarize important news about the stocks I own, or the stocks on my watchlist. Here’s the list of business news from September 23 to September 27, 2019.
BELL (BCE.TO)
Bell Mobility announced that wireless broadband service is now available to all 25 communities in Nunavut. This is positive news for Canada’s largest communications company as they will be able to reach more customers in remote locations.
BROOKFIELD PROPERTY PARTNERS (BPY.UN.TO)
Brookfield is in talks to buy an office complex in London’s financial district for $870 million. If the deal goes through, Brookfield will be able to pay for it in cash. It’s my assumption since they have 2 billion of cash on the balance sheet.
CIBC (CM.TO)
The Canadian bank CIBC announced plans to reorient its Canadian mortgage strategy. At this point, CIBC is heavily exposed to Toronto and Vancouver, but that will change as the bank shifts its focus to other domestic markets. This is positive news as diversification is always a safe business practice.
BROOKFIELD INFRASTRUCTURE (BIP.UN.TO)
I already covered this news in my previous post. BIP.UN will convert into BIPC Corporation in 2020.
EMERA (EMA.TO)
Emera raised the dividend from $2.35 to $2.45 per share. The company also extended its dividend growth rate target of four to five percent to 2022. Dividend increases are always favored by investors so the stock will continue to perform well.
PLAZA REIT (PLZ.UN.TO)
It’s been a while since we heard any news from Plaza REIT. This week’s news will provide a nice catalyst for the stock to go higher. On September 26, 2019, Morguard Corp (MRC.TO) announced the acquisition of 5,107,800 Plaza units, bumping their investment in Plaza from 9.71% to 14.71% of issued and outstanding shares. Furthermore, Plaza REIT announced the same day, the approval from the Toronto Stock Exchange to purchase 10% of its units. The buy-back will start on September 28, 2019. I believe the stock is poised to go up from here.
That’s all for this week. Stay tuned for my September’s update.
BELL (BCE.TO)
Bell Mobility announced that wireless broadband service is now available to all 25 communities in Nunavut. This is positive news for Canada’s largest communications company as they will be able to reach more customers in remote locations.
BROOKFIELD PROPERTY PARTNERS (BPY.UN.TO)
Brookfield is in talks to buy an office complex in London’s financial district for $870 million. If the deal goes through, Brookfield will be able to pay for it in cash. It’s my assumption since they have 2 billion of cash on the balance sheet.
CIBC (CM.TO)
The Canadian bank CIBC announced plans to reorient its Canadian mortgage strategy. At this point, CIBC is heavily exposed to Toronto and Vancouver, but that will change as the bank shifts its focus to other domestic markets. This is positive news as diversification is always a safe business practice.
BROOKFIELD INFRASTRUCTURE (BIP.UN.TO)
I already covered this news in my previous post. BIP.UN will convert into BIPC Corporation in 2020.
EMERA (EMA.TO)
Emera raised the dividend from $2.35 to $2.45 per share. The company also extended its dividend growth rate target of four to five percent to 2022. Dividend increases are always favored by investors so the stock will continue to perform well.
PLAZA REIT (PLZ.UN.TO)
It’s been a while since we heard any news from Plaza REIT. This week’s news will provide a nice catalyst for the stock to go higher. On September 26, 2019, Morguard Corp (MRC.TO) announced the acquisition of 5,107,800 Plaza units, bumping their investment in Plaza from 9.71% to 14.71% of issued and outstanding shares. Furthermore, Plaza REIT announced the same day, the approval from the Toronto Stock Exchange to purchase 10% of its units. The buy-back will start on September 28, 2019. I believe the stock is poised to go up from here.
That’s all for this week. Stay tuned for my September’s update.
thx for all the update! hard to keep track of all the news!
ReplyDeletethanks for the update German
ReplyDeleteThanks, Rob. Glad you checked in :)
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