{"id":6877,"date":"2019-12-11T14:02:19","date_gmt":"2019-12-11T14:02:19","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2019\/12\/11\/this-alberta-real-estate-companys-shares-are-up-70-this-year-despite-the-provinces-struggles\/"},"modified":"2019-12-11T14:02:19","modified_gmt":"2019-12-11T14:02:19","slug":"this-alberta-real-estate-companys-shares-are-up-70-this-year-despite-the-provinces-struggles","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2019\/12\/11\/this-alberta-real-estate-companys-shares-are-up-70-this-year-despite-the-provinces-struggles\/","title":{"rendered":"This Alberta real estate company&#8217;s shares are up 70% this year, despite the province&#8217;s struggles"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"\">\n<h2 class=\"visually-hidden\">Article content continued<\/h2>\n<section aria-labelledby=\"moreTopicLabel\" class=\"more-topic\">\n<h2 class=\"more-topic__title\" id=\"moreTopicLabel\">More On This Topic<\/h2>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><button aria-hidden=\"true\" class=\"more-topic__button-next\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<p>While it also owns apartments in B.C.\u2019s Lower Mainland and Saskatoon, Sask., 50 per cent of Mainstreet\u2019s apartments are located in Calgary and Edmonton. Dhillon said his company has benefitted from Alberta\u2019s population growing 1.6 per cent between July 1, 2018 and June 30, 2019 and as a result, he\u2019s been able to push Mainstreet\u2019s vacancy rate in the province down to 7.2 per cent from 12.6 per cent.<\/p>\n<p>\u201cIf somebody on Bay Street is saying Alberta is gone, they don\u2019t understand math,\u201d Dhillon said.<\/p>\n<p>The Mainstreet CEO didn\u2019t want to speak on behalf of investors, but he thinks of 2019 as the year where many of them finally woke up to his company. Over the past 19 years, Mainstreet has reported 16 per cent compound annual growth in revenue. Its stock price has seen 14 per cent compound annual growth but had remained range-bound between about $35 and $40 since 2014.<\/p>\n<p>That all changed this year and Dhillon thinks that some investors took a page out of his book.<\/p>\n<p><iframe loading=\"lazy\" frameborder=\"0\" height=\"360\" id=\"b4c279b72e6f834196d60698a8bb77a9-27795561-14037667\" src=\"https:\/\/html5-player.libsyn.com\/embed\/episode\/id\/12353183\/height\/360\/theme\/legacy\/thumbnail\/yes\/direction\/backward\/\" style=\"--height: 360px; border: none;\" width=\"640\"><\/iframe><\/p>\n<p>\u201cPeople are beginning to realize that at least in the multi-family business, we\u2019re at the bottom of the market and this guy is going to have a long runway,\u201d he said.<\/p>\n<p>According to Raymond James analyst Johann Rodrigues, the multi-family subset of Alberta\u2019s real estate sector was pummelled between 2016 and 2018 and both property fundamentals and the real estate stocks with exposure in the province, along with the aforementioned migration and vacancies are finally bouncing off their bottoms.<\/p>\n<\/div>\n\n<br \/><a href=\"https:\/\/financialpost.com\/real-estate\/property-post\/this-alberta-real-estate-companys-shares-are-up-70-this-year-despite-the-provinces-struggles\" rel=\"nofollow noopener\" target=\"_blank\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article content continued More On This Topic While it also owns apartments in B.C.\u2019s Lower Mainland and Saskatoon, Sask., 50 per cent of Mainstreet\u2019s apartments are located in Calgary and&#8230;<\/p>\n","protected":false},"author":2,"featured_media":6878,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-6877","post","type-post","status-publish","format-standard","has-post-thumbnail","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/6877","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=6877"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/6877\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/6878"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=6877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=6877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=6877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}