Thursday's TSX Breakouts: A REIT Providing Steady Distributions, Yielding 7.7% With A Payout Ratio O
At the end of the second quarter, the debt-to-gross book value stood at 49.7 per cent. 36.5-million, which is expected to be completed before year-end. On the earnings call, the CEO also remarked on the weakness in new automobile sales across Canada, which contracted 4.7 per cent year-over-year during the first five months of 2019 according to Statistics Canada. The REIT pays unitholders a monthly distribution of 6.7 cents per unit, or 80.4 cents on a yearly basis. This equates to an attractive current annualized yield of 7.7 per cent. The distribution appears sustainable. The AFFO payout ratio for the first half of 2019 stood at 82 per cent and the FFO payout ratio was 74 per cent. In 2018, the AFFO payout ratio was 88.7 per cent and the FFO payout ratio stood at 81.5 per cent. 416-million, of which nine analysts have buy recommendations and one analyst (Matt Logan at RBC Capital Markets) has a 'sector perform' recommendation. The 10 firms providing research coverage on the REIT are as follows in alphabetical order: BMO Nesbitt Burns, Canaccord Genuity, CIBC World Markets, Desjardins Securities, Industrial Alliance Securities, National Bank Financial, Raymond James, RBC Capital Markets, Scotiabank, and TD Securities.
The all-new Land Rover LR2 delivers outstanding on-road performance and class-leading off-road ability. It has a dynamic design, smart and spacious interior, and advanced technologies. A 230 bhp transversely mounted 3.2-liter inline-six engine features advanced technologies to deliver a combination of performance and economy. The engine is matched to a new six-speed automatic transmission, with manual sequential gear changes. The exterior and interior design of LR2 is completely fresh, integrating the company's unique design language with a form that is instantly recognizable as the latest Land Rover. The body is a five-door monocoque structure, with a high level of torsional rigidity which benefits refinement, comfort and handling on-road as well as ensuring the vehicle is fit for serious off-road use. The suspension is fully independent and uses a stability control system that helps mitigate the risk of roll-over even in extreme conditions. LR2 employs technologies to improve both on-road and off-road performance. Land Rover's unique Terrain Response is standard, making off-road use easier. A new intelligent permanent all-wheel-drive system gives for superior traction and better on-road fuel economy, and the Gradient Release Control improves driver confidence and control when releasing the brakes on steep and slippery slopes.
Ian Rochelle took his second win of the Britpart MSA British Cross Country Championship season at round five which, with Richard Kershaw retiring, means the title race will go down to the final round. Rochelle took an early lead in the Ednol Hill event, leading Kershaw鈥檚 Milner R5 by 16 seconds after the opening run. He continued to lead throughout the opening day despite numerous problems with a damaged seal which was causing oil to leak from his Millington Phoenix. Kershaw鈥檚 challenge ended near the end of day one after suffering engine problems leaving Rochelle with a lead of over four minutes from second-placed Martin Cox after 7 runs. Rochelle obtained parts to enable his car to be properly fixed ready for the start of day two and he maintained his lead over the day鈥檚 six runs to claim maximum championship points. 鈥淭he problem we had on day one was the same we had at round three but fortunately we were able to get it fixed throughout the day and then do a proper fix once we got new parts,鈥?said Rochelle.
Historically 4x4 and SUV vehicles were used by farmers and agricultural personnel. Of late though, BMW X5s, Audi Q7s and Range Rovers have become as common as a normal medium sized family car. You may have noticed that there are much more female owners and drivers of 4x4s, whereas historically women would have shied away from such large cars. With the increase of popularity of these large SUV type vehicles demand for a used Land Rover in Surrey has increased immensely. As well as standard models, third part companies have got involved in modifying and making SUVs unique to the owner. Afzal Kahn and his team at Project Kahn are heavily involved in modifying Land Rover models. Bespoke and modified Land Rovers are not just limited to the popular Ranger Rover and Range Rover Sport; Afzal Kahn has recently released an 聯enhanced聰 Land Rover Discovery. Project Kahn have changed the front and rear arch spats, front and rear bumper unit, and added a twin mesh grille, side vents, L.E.D running lights. They have changed the ride height by adding lowered sports suspension and added an exhaust system.
