riocan real estate investment trust

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....

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....

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 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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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....

RIOCAN REAL ESTATE INVESTMENT TRUST $27(www.riocan.com) is raising its monthly distribution by 2.2% with the January 2013 payment, to $0.1175 a unit from $0.115. The new annual rate of $1.41 yields 5.2%. This is the first increase since 2008. Buy.

RIOCAN REAL ESTATE INVESTMENT TRUST $27(www.riocan.com) is raising its monthly distribution by 2.2% with the January 2013 payment, to $0.1175 a unit from $0.115. The new annual rate of $1.41 yields 5.2%. This is the first increase since 2008. Buy.

SNC-LAVALIN GROUP INC....