canadian reit
Toronto symbol REF.UN, focuses on acquiring properties in prime locations, usually near major metropolitan centres. That attracts strong tenants, maintains high occupancy rates and delivers a reliable stream of rental income.
ISHARES CDN REIT SECTOR INDEX FUND $14.98 (Toronto symbol XRE; buy or sell through a broker; ca.ishares.com) holds the 13 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 iShares CDN REIT Sector Index Fund’s value. iShares CDN REIT’s expenses are just 0.55% of its assets....
Claymore Investments, Inc., is the wholly owned Canadian subsidiary of Chicago-based Guggenheim Partners. The Canadian branch now offers 29 exchange-traded funds (ETFs) that trade on the Toronto exchange. All of the funds aim to combine what Claymore sees as the advantages of passive investment in an index, along with active management to eliminate stocks from the index that it expects to perform poorly. The funds use a variety of mathematically formulated models, or quantitative investment methodologies. The managers see this as a systematic approach to equity selection, portfolio monitoring and portfolio management....
CANADIAN REIT $33.46 (Toronto symbol REF.UN; Units outstanding: 66.5 million; Market cap: $2.3 billion; TSINetwork Rating: Extra Risk; Dividend yield: 4.3%; www.creit.ca) owns over 160 properties, including retail, industrial and office buildings located across Canada and in the Chicago area. These properties contain over 22 million square feet of leasable area. Its occupancy rate is 94.2%. In the three months ended March 31, 2010, the real estate investment trust’s revenue fell slightly, to $81.3 million from $81.7 million a year earlier. Cash flow per unit fell 7.1%, to $0.52 from $0.56. Canadian REIT provides high-interest loans to developers who are building properties that it might take an interest in. It is now making fewer of these loans; that was the main reason for the lower results. Instead, the REIT is focusing on buying lower-risk properties that will provide long-term cash flows. For example, it recently agreed to buy two fully leased malls in Mississauga, Ontario, for $171.0 million....
ISHARES CDN REIT SECTOR INDEX FUND $14.43 (Toronto symbol XRE; buy or sell through a broker; ca.ishares.com) holds the 13 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 iShares CDN REIT Sector Index Fund’s value. iShares CDN REIT’s expenses are just 0.55% of its assets. RioCan REIT is the fund’s largest holding, at 24.5%, followed by H&R REIT (12.4%), Canadian REIT (8.9%), Calloway REIT (8.4%), Boardwalk REIT (7.3%), Primaris Retail REIT (5.8%), Canadian Apartment Properties REIT (5.8%), Dundee REIT (5.4%), Chartwell Seniors Housing REIT (5.0%), Cominar REIT (4.7%), Artis REIT (4.2%), Allied Properties REIT (3.8%) and Extendicare REIT (3.3%)....
RIOCAN REAL ESTATE INVESTMENT TRUST $23.94 (Toronto symbol REI.UN; Units outstanding: 250.9 million; Market cap: $6.0 billion; TSINetwork Rating: Average; Dividend yield: 5.8%; www.riocan.com) is Canada’s largest real estate investment trust (REIT). It has interests in 297 shopping malls in Canada, including 10 under development. These properties contain over 70 million square feet of leaseable area. The trust has a 97.4% occupancy rate. RioCan also owns stakes in 31 malls in the U.S. through joint ventures. As well, it owns 14% of Cedar Shopping Centers, a U.S. REIT that owns malls anchored by supermarkets and drug stores, mainly in the northeastern U.S. In the three months ended December 31, 2010, RioCan’s revenue rose 21.7% to $222.8 million from $183.1 million a year earlier. Cash flow per unit rose 25%, to $0.35 from $0.28. RioCan’s units yield 5.8%....
CANADIAN REIT $32 (Toronto symbol REF.UN; Units outstanding: 66.6 million; Market cap: $2.1 billion; SI Rating: Extra Risk; Dividend yield: 4.4%; www.creit.ca) owns over 160 properties. Its holdings include retail, industrial and office buildings located across Canada, and in the Chicago area. In all, these properties contain over 22 million square feet of leasable area. Canadian REIT’s occupancy rate is 97.1%. In the three months ended September 30, 2010, Canadian REIT’s revenue was $80.3 million. That’s up 1.6% from $79 million a year earlier. Cash flow per unit was unchanged at $0.57. The trust raised its monthly distribution by 2.2%, to $0.1175 from $0.1150, with the June 2010 payment. This is the ninth consecutive year that the REIT has raised its distribution. The units now yield 4.4%....
Most real estate investment trusts (REITs), including our recommendations, are exempt from Ottawa’s new tax on income-trust distributions, which comes into effect on January 1, 2011. As a result, these REITs should continue to attract investor interest as the tax prompts more trusts to convert to corporations and cut their distributions. RIOCAN REAL ESTATE INVESTMENT TRUST $23.15 (Toronto symbol REI.UN; Units outstanding: 250.9 million; Market cap: $5.8 billion; SI Rating: Average; Dividend yield: 6.0%; www.riocan.com) is Canada’s largest REIT. RioCan has interests in 289 shopping malls across Canada, including 11 under development. In all, these properties contain over 66 million square feet of leasable area. The trust has a 97.1% occupancy rate. RioCan is Canada’s largest owner of neighbourhood shopping centres, which are enclosed malls in smaller cities. But the trust’s strongest growth is in its “New Format” malls, in the suburbs of larger cities. RioCan is Canada’s largest owner of these malls, which have lots of parking and room for new building, and mainly consist of big-box stores, or large stores that are usually part of a chain....
ISHARES CDN REIT SECTOR INDEX FUND $14.04 (Toronto symbol XRE; buy or sell through a broker; ca.ishares.com) holds the 13 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 iShares CDN REIT Sector Index Fund’s value. iShares CDN REIT’s expenses are just 0.55% of its assets. RioCan REIT is the fund’s largest holding, at 25%, followed by H&R REIT (12.7%), Canadian REIT (9.3%), Calloway REIT (8.2%), Boardwalk REIT (7.1%), Primaris Retail REIT (5.6%), Dundee REIT (5.4%), Chartwell Seniors Housing REIT (5.2%), Canadian Apartment Properties REIT (5.1%), Cominar REIT (4.9%), Allied Properties REIT (3.7%), Extendicare REIT (3.7%) and Artis REIT (3.7%)....
ISHARES CDN REIT SECTOR INDEX FUND $12.72 (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 is the fund’s largest holding, at 25%, followed by H&R REIT (14.2%), Canadian REIT (10.7%), Boardwalk REIT (8.6%), Calloway REIT (8.4%), Primaris Retail REIT (6.7%), Canadian Apartment Properties REIT (5.8%), Cominar REIT (5.5%), Chartwell Seniors Housing REIT (5.4%), Dundee REIT (4.9%) and Extendicare REIT (3.8%). The fund yields 5.6%. Most REITs, including those held by the iShares CDN REIT Sector Index Fund, are exempt from Ottawa’s new income-trust tax, which takes effect on January 1, 2011. That will help keep the fund’s distributions high. iShares CDN REIT’s expenses are 0.55% of its assets....
CANADIAN REIT $28.80 (Toronto symbol REF.UN; Units outstanding: 66.5 million; Market cap: $1.9 billion; SI Rating: Extra Risk; Dividend yield: 4.9%) owns over 158 properties. Its holdings include retail, industrial and office buildings located across Canada, and in the Chicago area. Canadian REIT’s occupancy rate is 95.6%. In the three months ended March 31, 2010, Canadian REIT’s revenue was $85.2 million. That’s up 1.5% from $83.9 million a year earlier. Cash flow per unit rose 1.8%, to $0.56 from $0.55. The trust raised its monthly distribution by 2.2%, to $0.1175 from $0.1150, with the June payment. This is the ninth consecutive year that the REIT has raised its distribution. The units now yield 4.9%....