riocan real estate investment trust
RioCan Real Estate Investment Trust (REIT) is one of the largest real estate investment trusts in Canada, focusing on necessity-based retail properties. As of 2024, it owns approximately 188 properties with a net leasable area of about 33 million square feet. Founded in 1993, RioCan has grown significantly through acquisitions and has been recognized for its innovative culture and strong financial performance.
The company aims to optimize the value of its properties through redevelopment and continues to expand its presence in densely populated communities across Canada.
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RIOCAN REAL ESTATE INVESTMENT TRUST $28.93 (Toronto symbol REI.UN) has teamed up with ALLIED PROPERTIES REAL ESTATE INVESTMENT TRUST $30.71 (Toronto symbol AP.UN) and privately held Diamond Corp. to buy the Globe & Mail lands in downtown Toronto. Currently the home of The Globe & Mail newspaper, the 252,617-square-foot property is on 6.47 acres of land forming part of the large city block bounded by Spadina Avenue and Front, Draper and Wellington Streets.
The partners plan to redevelop the property into a retail-office complex. RioCan and Allied will each own 40%, while Diamond will hold 20%. RioCan and Allied will each pay $14.9 million for their stakes.
RioCan is a buy....
The partners plan to redevelop the property into a retail-office complex. RioCan and Allied will each own 40%, while Diamond will hold 20%. RioCan and Allied will each pay $14.9 million for their stakes.
RioCan is a buy....
CANADIAN TIRE CORP., $83.78, Toronto symbol CTC.A, jumped 13% this week after the company announced a plan to spin off most of its real estate holdings into a new, publicly traded real estate investment trust (REIT). Under the company’s plan, which is similar to a move by grocery retailer Loblaw Companies Ltd. (Toronto symbol L), Canadian Tire will transfer 250 of its stores, a distribution centre and other properties to the new REIT. In all, these assets total 18 million square feet and are worth $3.5 billion; that’s 72% of Canadian Tire’s 25 million square feet of real estate. After this transaction closes in the fall of 2013, Canadian Tire will sell units of the REIT to the public. It will hang on to an 80% to 90% interest. Meanwhile, the company earned $73.0 million in the three months ended March 31, 2013. That’s up 2.8% from $71.0 million a year earlier. Earnings per share rose 3.4%, to $0.90 from $0.87, on fewer shares outstanding. That matched the consensus estimate....
RIOCAN REAL ESTATE INVESTMENT TRUST $28.93 (Toronto symbol REI.UN) has teamed up with ALLIED PROPERTIES REAL ESTATE INVESTMENT TRUST $30.71 (Toronto symbol AP.UN) and privately held Diamond Corp. to buy the Globe & Mail lands in downtown Toronto....
RIOCAN REAL ESTATE INVESTMENT TRUST $28 (Toronto symbol REI.UN; Aggressive Growth Portfolio, Manufacturing & Industry sector; Units outstanding: 300.8 million; Market cap: $8.4 billion; Price-to-sales ratio: 4.9; Dividend yield: 5.0%; TSINetwork Rating: Average; www.riocan.com) has teamed up with Allied Properties Real Estate Investment Trust (Toronto symbol AP.UN) and privately held Diamond Corp. to buy a second property in downtown Toronto. In December 2012, the partners acquired a larger, adjacent building. They plan to redevelop these two holdings into a single retail-office complex.
As before, RioCan and Allied will each own 40%, while Diamond will own 20%. RioCan’s share of this latest purchase is $14.9 million. To put that in context, its cash flow was $116 million, or $0.39 a unit, in the fourth quarter of 2012.
RioCan is a buy....
As before, RioCan and Allied will each own 40%, while Diamond will own 20%. RioCan’s share of this latest purchase is $14.9 million. To put that in context, its cash flow was $116 million, or $0.39 a unit, in the fourth quarter of 2012.
RioCan is a buy....
TORSTAR CORP. $7.15 (Toronto symbol TS.B; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 79.7 million; Market cap: $569.9 million; Price-to-sales ratio: 0.4; Dividend yield: 7.3%; TSINetwork Rating: Above Average; www.torstar.com) owns romance novel publisher Harlequin, which recently formed a joint venture with Cosmopolitan magazine that will publish two e-books a month, starting in August 2013.
The new series, called Cosmo Red Hot Reads, will help Harlequin profit from fast-growing demand for erotica, such as the best-selling Fifty Shades of Grey trilogy....
The new series, called Cosmo Red Hot Reads, will help Harlequin profit from fast-growing demand for erotica, such as the best-selling Fifty Shades of Grey trilogy....
RIOCAN REAL ESTATE INVESTMENT TRUST $27 (Toronto symbol REI.UN; Aggressive Growth Portfolio, Manufacturing & Industry sector; Units outstanding: 300.1 million; Market cap: $8.1 billion; Price-to-sales ratio: 4.8; Dividend yield: 5.2%; TSINetwork Rating: Average; www.riocan.com) is Canada largest real estate investment trust (REIT), with 294 retail properties, including 11 under development. It also owns 52 malls in the U.S.
RioCan continues to expand beyond suburban big-box-style malls. It recently formed a joint venture with Allied Properties Real Estate Investment Trust (Toronto symbol AP.UN) to redevelop certain properties in Toronto as mixed-use office, retail and residential complexes.
The REIT has also agreed to pay $362 million for an enclosed shopping centre and 50% of another mall, both in southern Ontario. Enclosed malls now supply 16.1% of its Canadian rental revenue.
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RioCan continues to expand beyond suburban big-box-style malls. It recently formed a joint venture with Allied Properties Real Estate Investment Trust (Toronto symbol AP.UN) to redevelop certain properties in Toronto as mixed-use office, retail and residential complexes.
The REIT has also agreed to pay $362 million for an enclosed shopping centre and 50% of another mall, both in southern Ontario. Enclosed malls now supply 16.1% of its Canadian rental revenue.
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RIOCAN REAL ESTATE INVESTMENT TRUST (Toronto symbol REI.UN; www.riocan.com) is Canada largest real estate investment trust (REIT), with 294 retail properties, including 11 under development. It also owns 52 malls in the U.S. RioCan continues to expand beyond suburban big-box-style malls. It recently formed a joint venture with Allied Properties Real Estate Investment Trust (Toronto symbol AP.UN) to redevelop certain properties in Toronto as mixed-use office, retail and residential complexes....
RIOCAN REAL ESTATE INVESTMENT TRUST $27 (Toronto symbol REI.UN; Aggressive Growth Portfolio, Manufacturing & Industry sector; Units outstanding: 300.1 million; Market cap: $8.1 billion; Price-to-sales ratio: 4.8; Dividend yield: 5.2%; TSINetwork Rating: Average; www.riocan.com) is Canada largest real estate investment trust (REIT), with 294 retail properties, including 11 under development....
RIOCAN REAL ESTATE INVESTMENT TRUST $27 (Toronto symbol REI.UN; Aggressive Growth Portfolio, Manufacturing & Industry sector; Units outstanding: 299.0 million; Market cap: $8.1 billion; Price-to-sales ratio: 5.3; Dividend yield: 5.2%; TSINetwork Rating: Average; www.riocan.com) has agreed to buy a mall in Oakville, Ontario, plus 50% of another mall in Burlington, Ontario. Right now, Primaris Retail Real Estate Investment Trust (Toronto symbol PMZ.UN) owns these malls. RioCan will buy them from a consortium that has launched a friendly takeover for Primaris. The $362-million price is equal to 4% of RioCan’s market cap.
The new malls will give RioCan more flexibility to attract tenants with leases that include space in its other Toronto-area malls.
RioCan is a buy.
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The new malls will give RioCan more flexibility to attract tenants with leases that include space in its other Toronto-area malls.
RioCan is a buy.
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RIOCAN REAL ESTATE INVESTMENT TRUST $27 (Toronto symbol REI.UN; Aggressive Growth Portfolio, Manufacturing & Industry sector; Units outstanding: 299.0 million; Market cap: $8.1 billion; Price-to-sales ratio: 5.3; Dividend yield: 5.2%; TSINetwork Rating: Average; www.riocan.com) has agreed to buy a mall in Oakville, Ontario, plus 50% of another mall in Burlington, Ontario....