Updating RioCan Real Estate Investment Trust, Transcontinental Inc. and Toromont Industries Ltd.

Article Excerpt

RIOCAN REAL ESTATE INVESTMENT TRUST $27 (www.riocan.com) owns all or part of 230 shopping centres and other properties across Canada. In a response to slowing customer traffic and online shopping, the REIT continues to add office and residential space to its retail properties. It is now building 2,300 residential units, and will add 2,000 more by 2021. That’s just the start: over the next few years, it plans to have 10,000 residential properties at its top locations. Buy. TRANSCONTINENTAL INC. $15 (www.tctranscontinental.com) completed its $1.7 billion acquisition of Coveris Americas in May 2018. The firm makes plastic packaging for consumer and industrial products. With the purchase, Transcontinental now gets over half of its revenue from packaging. That cuts the company’s reliance on its commercial printing and advertising flyer distribution operations, particularly as advertisers shift more of their spending to online platforms. As well, cost savings from the Coveris integration should spur its earnings. The $0.88 a share dividend also looks safe and yields a high 5.9%. Best…

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