Professional
Added to YB: 2025-04-03
Pitch date: 2025-04-01
REI-UN.TO [neutral]
RioCan Real Estate Investment Trust
+12.36%
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 16.39
Price Target
N/A
Dividend
6.55%
EV/EBITDA
21.11
P/E
18.60
EV/Sales
10.15
Sector
Retail REITs
Category
value
Reflection on some top real estate ideas - RioCan Real Estate Investment Trust
REI-UN.TO (holding update): Top-tier retail REIT, 6.8% cap rate, 32% NAV discount. Record leasing spreads, all-time high occupancy. RioCan Living worth $1.2B (20% of market cap). Down 42% since 2022 despite stronger fundamentals. HBC bankruptcy fears overblown (3% NOI). Trades at COVID trough multiples. Catalysts: unit buybacks, asset sales.
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