Professional
Added to YB: 2025-06-03
Pitch date: 2025-06-01
REI-UN.TO [neutral]
RioCan Real Estate Investment Trust
+8.62%
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 16.81
Price Target
N/A
Dividend
6.55%
EV/EBITDA
21.11
P/E
18.60
EV/Sales
10.15
Sector
Retail REITs
Category
value
NCP Real Estate Portfolio Update - RioCan Real Estate Investment Trust
REI-UN.TO (holding update): Riocan selling $174M of apartment assets, with ~$1bn more planned in 1-2 years (~20% of market cap, ~10% of EV). Sales at IFRS NAV while REIT trades at ~30% discount. Proceeds funding buybacks. Strong demand for Canadian apartments from CAPREIT, Blackstone supports thesis.
Read full article (1 min)