Topic: How To Invest

Dividend Advisor Hotline – Friday, July 19, 2019

Article Excerpt

CHOICE PROPERTIES REIT, $13.71, Toronto symbol CHP.UN, acquired Canadian REIT (old symbol REF.UN) on May 7, 2018. The merger created Canada’s biggest real estate investment trust: 756 properties, including 20 under development, for a total of 68.0 million square feet of retail, industrial and office space. Its occupancy rate is a high 97.7%. Choice Properties pays monthly distributions of $0.061667 a unit. The annual rate of $0.74 yields a high 5.4%. In the latest quarter, those payments accounted for a reasonable 83.2% of total cash flow. Due to the additional properties, the REIT’s revenue in the quarter ended June 30, 2019, rose 10.1%, to $324.3 million from $294.7 million a year earlier. Overall cash flow improved 8.3%, to $151.8 million from $140.1 million. Choice Properties recently sold $381 million in new units at $13.15 a unit. Due to the extra units outstanding, cash flow per unit declined 9.1%, to $0.221 from $0.243. The REIT used the proceeds to pay down its debt, which…

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