Professional
Added to YB: 2025-05-20
Pitch date: 2025-05-16
REI-UN.TO [bullish]
RioCan Real Estate Investment Trust
+7.36%
current return
Author Info
Nugget Capital Partners is a research analyst specializing in resources w/ focus on energy. Sign up for the newsletter.
Company Info
RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work.
Market Cap
CAD 5.2B
Pitch Price
CAD 17.01
Price Target
N/A
Dividend
6.55%
EV/EBITDA
21.11
P/E
18.60
EV/Sales
10.15
Sector
Retail REITs
Category
value
Favorite Canadian REITs for 2H 2025 - RioCan Real Estate Investment Trust
REI-UN.TO: Trading at 35% IFRS NAV discount, 7% implied cap rate, 7% distribution yield, 9.4% AFFO yield. HBC bankruptcy causing 40% drop despite only 3.2% NOI loss. Strong urban retail demand, historic high leasing spreads. Catalyst: $900M-$1.2B Riocan Living portfolio sale with proceeds likely for NCIB or distribution hike.
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