Canadian REIT $30.23 – Toronto symbol REF.UN

CANADIAN REIT $30.23 (Toronto symbol REF.UN; SI Rating: Extra Risk) owns a portfolio of more than 140 income properties consisting of retail, industrial and office properties across Canada and in the Chicago, Illinois area. CREIT’s revenue in the three months ended June 30, 2007 was $70.9 million, up 8.5% from $65.3 million a year earlier. Cash flow per unit rose 8.8%, to $0.53 from $0.49. The units now yield 4.4%. 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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