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No. of Recommendations: 3
I would for sure steer clear of "PEI". I am not yet convinced their strategy will work. They are investing huge sums on new development where the return is questionable. The only way to explain that investment is they have to do that to keep "PEI" relevant or management's job security. They should have used all the cash flow to pay back debt, 'retire' preferred's and look at option to merge with other players.

They have few good properties, is that enough ?
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