H&R REAL ESTATE INVESTMENT TRUST $10.98 (Toronto symbol HR.UN; Units outstanding: 147.8 million; Market cap: $1.6 billion; SI Rating: Extra Risk) owns interests in 35 office properties, 123 industrial properties and 120 retail properties. Together, these contain over 41 million square feet. Over half of H&R’s properties are in the Greater Toronto Area. The rest are in other parts of …read more »

A member of my Inner Circle recently asked us whether a reverse mortgage would be a good way to tap into the equity she had built up in her home.

Reverse mortgages in Canada typically let homeowners (age 60 or older) borrow on their home equity (maximum 40%). The loan and accumulated interest are repaid only if the house is sold …read more »

Part-time real estate investing can be very profitable. However, the best returns are mainly a result of three key factors that are easy to overlook when investing in real estate: leverage, sweat equity and higher risk.

It’s easier to get financing to buy real estate than stocks, because real estate tends to be less volatile and easier to appraise, and it …read more »

RIOCAN REAL ESTATE INVESTMENT TRUST $13.51 (Toronto symbol REI.UN; Units outstanding: 222.1 million; Market cap: $3.0 billion; SI Rating: Average) is Canada’s largest real estate investment trust (REIT).

RioCan has issued $180 million worth of new bonds. The trust will use the proceeds to retire $55 million of bonds that are due this year. That will leave it with $125 million, …read more »

RIOCAN REAL ESTATE INVESTMENT TRUST $12 (Toronto symbol REI.UN; Aggressive Growth Portfolio, Manufacturing & Industry sector; Units outstanding: 222 million; Market cap: $2.7 billion; Price-to-sales ratio: 3.7; SI Rating: Average) is Canada’s largest real estate investment trust (REIT). It owns 241 retail properties, including 16 under development. RioCan specializes in “Big Box” outdoor malls. Most are in suburban areas where …read more »

ISHARES CDN REIT SECTOR INDEX FUND $7.22 (Toronto symbol XRE; buy or sell through a broker) holds the 11 Canadian real estate investment trusts (REITs) in the S&P/TSX Capped REIT Index. The weight of any one REIT is limited to 25% of this index’s value.

RioCan REIT makes up 23.3% of the index’s total value; Canadian REIT, 14.1%; Boardwalk REIT, 11.3%; …read more »

RIOCAN REAL ESTATE INVESTMENT TRUST $21 (Toronto symbol REI.UN; Aggressive Growth Portfolio, Manufacturing & Industry sector; Units outstanding: 212.0 million; Market cap: $4.5 billion; SI Rating: Average) has formed a second joint venture with U.S.-based real estate developer Kimco Realty Corp. This new 50-50 partnership has agreed to buy 10 retail shopping centres in central and eastern Canada. RioCan will …read more »

ARBOR MEMORIAL SERVICES INC. $27 (Toronto symbol ABO.A; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 10.7 million; Market cap: $288.9 million; SI Rating: Average) owns 41 cemeteries, 27 crematoria, four reception centres located on cemetery premises and 90 funeral homes in eight provinces. In its second fiscal quarter ended April 30, 2008, Arbor earned $0.60 a share, down 9.1% from …read more »

RioCan Real Estate Investment Trust $22 (Toronto symbol REI.UN Aggressive Growth Portfolio, Manufacturing & Industry sector; Units outstanding: 212.0 million; Market cap: $4.7 billion; SI Rating: Average) is Canada’s largest real estate investment trust. It owns 214 retail properties, including 12 under development, comprising an aggregate of almost 55 million square feet.

RioCan specializes in “New Format” shopping centres. These are …read more »

Real Estate Investment Trusts (REITs) are among the most stable of the royalty and investment trusts. That’s because they own non-depleting assets, and can lock in lease rates and financing costs for long terms.

The best REITs have good management, well-located properties and balance sheets strong enough to weather an economic downturn. They have high-quality tenants, and carefully match their debt …read more »