RioCan aims to pay down debt

Article Excerpt

RIOCAN REAL ESTATE INVESTMENT TRUST $22.22 (Toronto symbol REI.UN; Units outstanding: 250.9 million; Market cap: $5.6 billion; TSINetwork Rating: Average; Dividend yield: 6.2%; has raised $150.7 million by selling 6.4 million new trust units at $21.75 a unit. RioCan will probably use the proceeds to pay down loans related to its recent purchase of shopping malls in the U.S. Most of these properties have grocery stores as anchor tenants. That helps cut the risk of these purchases, because these retailers stay busy no matter what the economy is doing. RioCan is a buy. buy…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.