Canadian REIT $29.30 – Toronto symbol REF.UN

CANADIAN REIT $29.30 (Toronto symbol REF.UN; SI Rating: Extra Risk) owns a portfolio of more than 150 income properties consisting of retail, industrial and office properties across Canada and in the Chicago, Illinois area. Occupacy is at 96.7%. CREIT’s revenue in the three months ended June 30, 2008 was $73.1 million, up 10.2% from $66.4 million a year earlier. Cash flow per unit rose 5.7%, to $0.56 from $0.53. The units yield 4.6%. CREIT focuses on acquiring properties in prime locations, usually near major metropolitan centres, that attract strong tenants, maintain high occupancy rates and deliver a reliable stream of rental income. Canadian REIT is still a buy.

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