Investment Thesis
Cominar REIT (CMLEF) (TSX:CUF.UN) delivered another quarter of positive same property net operating income growth in Q1 2019. Looking forward, the company should be able to benefit from a strong economy in Quebec thanks to its exposure in the province. However, there is still a long way to go before the company finished its disposition program to improve the quality of its portfolio and strengthen its balance sheet. Cominar offers an attractive 5.7%-yielding dividend but its shares appear to be fairly valued on a relative basis. Investors may want to seek