CANADIAN REIT $48.25 (Toronto symbol REF.UN; Units outstanding: 73.1 million; Market cap: $3.5 billion; TSINetwork Rating: Extra Risk; Dividend yield: 3.8%; www.creit.ca) owns 197 properties, including retail, industrial and office buildings, across Canada and in Chicago. These holdings contain 24.9 million square feet of leasable area. The trust’s occupancy rate is 94.1%.
In the three months ended March 31, 2016, Canadian REIT’s revenue rose 1.0%, to $111.8 million from $110.6 million a year earlier. Cash flow per unit gained 4.0%, to $0.78 from $0.75.
The trust aims to expand by developing its own properties rather than through large acquisitions. Over the next two to three years, it plans to add 1.1 million square feet of space with 12 developments. Canadian REIT takes on partners to help carry out big projects.
The stock trade at 15.4 times the trust’s forecast 2016 cash flow of $3.13 a unit. Canadian REIT raised its monthly distribution by 1.7% with the May 2016 payment, to $0.1525 from $0.15. It yields 3.8%.
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Privacy Policy and Terms of Use
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Changes to this Policy
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