RioCan cut your risk

Article Excerpt

RIOCAN REAL ESTATE INVESTMENT TRUST $27.07, is a buy. The REIT (Toronto symbol REI.UN; Units outstanding: 303.8 million; Market cap: $8.6 billion; TSINetwork Rating: Average; Dividend yield: 5.3%; www.riocan.com) continues expand under the RioCan Living brand it formed to build and market residential apartments and condominiums. RioCan recently completed two residential projects and is working on eight more. This includes Toronto’s eCentral, a 36-storey apartment building at the intersection of the Yonge-University subway line and future Eglinton Crosstown LRT. The resulting increase in portfolio diversity, beyond RioCan’s core shopping centres, helps lower its reliance on retail as well as your risk. While malls continue to grapple with the growth in online shopping, RioCan is focused on high-density shopping centres close to transit lines and with the potential for residential add-ons. add-ons…