Viewing Company RioCan Real Estate Investment | StockChase
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RioCan Real Estate Investment Stock Symbol: REI.UN-T

Notes:shopping centres/big box stores

Last Price Recorded: $23.7700 on 2017-09-20

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Date Signal Expert Opinion Price
2017-08-10 PAST TOP PICK Robert Lauzon

(Top Pick Nov 1/16, Down 4%)  He trimmed it back.  He was expecting it to go into the TSX 60.  Waste Connections went into the index instead.  REI.UN-T still might get a crack at it when POT-T and AGU-T merge and represent only one equity in the index.  He owns less than he did, but is sticking with it. The Sears Canada thing was also a negative factor for them.


Price:
$23.900
Subject:
NORTH AMERICAN
Bias:
CAUTIOUS
Owned:
Yes
2017-08-02 COMMENT Andy Nasr

The largest REIT in Canada. It has declined significantly because of concerns of e-commerce. Fundamentally everything is fine. Management strategy is very sound. They’ve concentrated their real estate portfolio in Canada in the larger cities. These are strip centres, not enclosed malls and are anchored by things such as grocery stores. Temporarily, they are immune from the e-commerce threat, because Amazon (AMZN-Q) is not buying whole foods and opening up 2000 stores in Canada. It is going to be a very gradual rollout. You can bank on very stable occupancy, decent balance sheets.


Price:
$23.900
Subject:
REITS, GLOBAL & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
Yes
2017-07-28 COMMENT Greg Newman

Everyone is concerned about online and the soft economy. This is a yield proxy. If interest rates start to go up REITs are fully valued here. Really cheap relative to its 5 year. He sees decent growth of around 3.5% over 2017 and 2018. A good yield of around 6% with a 94% payout ratio. They had improving occupancy in Q1. A lot of the Target space which is given them a challenge, is coming online. He sees tailwinds on this. As long as REIT valuations hold up this is a good name.


Price:
$23.990
Subject:
CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias:
BULLISH
Owned:
Unknown
2017-07-25 DON'T BUY Norman Levine

His concern has been that retailing continues to be a difficult environment.  It is a very well run company.  The dividend has not increased in quite some time and he does not predict one.  5.9% dividend.


Price:
$24.100
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Unknown
2017-07-21 DON'T BUY Michael Sprung

You can’t analyse this the way you used to. Dynamics of the retail industry and commercial space are changing so rapidly, that given the properties this company has, are now subject to changes that are happening within the businesses that it serves. He would not look at this one.


Price:
$24.180
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2017-07-12 DON'T BUY Brian Madden

A real estate investment trust, and one of the largest operators and owners of shopping centres. They have a big concentration in Ontario. He wouldn’t be particularly bullish on this. The 6% dividend yield might seem juicy, but it is not out of line with what the security has yielded historically over the last 10 years. This is trading at about 1X BV, but it is exposed to bricks and mortar retail, which is in a state of secular loss of market share. It has strong secular headwinds. This stock is not historically cheap on a yield basis. There are better opportunities elsewhere.


Price:
$24.290
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
No
2017-06-27 COMMENT Ryan Bushell

Doesn’t own the large REITs, usually because his clients are over indexed to real estate as it is. He doesn’t want a broad exposure of the Canadian retail marketplace. This is just not a very exciting place to be.


Price:
$24.160
Subject:
CANADIAN DIVIDEND
Bias:
UNKNOWN
Owned:
No
2017-06-21 COMMENT Andy Nasr

The negative sentiment on retail marketing has dragged down a lot of retail REITs both in Canada and the US. Fundamentals for this company are very good. Their holdings are probably in the best locations. 80% of its properties are in Canada and in the 6 largest cities. A lot of properties are anchored by tenants that cater to peoples every day needs. Those kinds of retailers are somewhat immune from the e-commerce threat.


Price:
$24.750
Subject:
REITS, GLOBAL & MACRO STRATEGY
Bias:
UNKNOWN
Owned:
Yes
2017-04-21 BUY on WEAKNESS Greg Newman

This is turning the corner. Retail has been a tough place. They’ve had to release a lot of their Target properties and have done a good job there. He is projecting that they do 3% FFO growth from 2016 to 2018. Very good balance sheet. They have a lot of development and intensification projects that they can use to grow. His target price is $28. On bad days when there is a yield scare, you could pick it up at about $25, get paid some premium, and when it gets to $28 sell some Calls.


Price:
$26.530
Subject:
CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias:
UNKNOWN
Owned:
Unknown
2017-02-27 DON'T BUY Larry Berman CFA, CMT, CTA

If you want to be in the sector, use ZRE-T because sometimes a stock underperforms and sometimes it outperforms.  Recently the sector has been improving while REI.UN-T has not.  REITs are not cheap compared to other places to get a dividend.


Price:
$26.610
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2017-02-16 HOLD David Baskin

He is not crazy about retail REITs because of Amazon and other online retailers taking market share away.  Some argue that we are over retailed in Canada.  There is not much growth in REI.UN-T.  He owns CRR.UN-T.  He thinks it has a much more attractive entry point than REI.UN-T.


Price:
$26.760
Subject:
NORTH AMERICAN - LARGE
Bias:
SELECTIVE
Owned:
Unknown
2017-02-15 COMMENT Brian Madden

A real estate investment trust concentrated in retail shopping centres. It is a bond proxy, so is going to be disadvantaged in an era of secular rising rates. Yields about 5.3%. If you own it, it is probably safe. You will probably continue to get the yield, but the multiple might be under pressure because it is a bond proxy. Also, because it is retail oriented and the Canadian consumer being indebted to historic levels, this would not be his preferred exposure.


Price:
$26.420
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
No
2017-01-23 COMMENT Steve DiGregorio

A really good business with a great management team. Thinks REITs will do okay, because interest rates will go up slowly/moderately. He doesn’t own this because he doesn’t like retail or office too much, and would rather be in multifamily or industrial where there are better opportunities.


Price:
$26.190
Subject:
CANADIAN DIVIDEND
Bias:
OPTIMISTIC
Owned:
No
2016-12-07 DON'T BUY Brian Madden

He is avoiding the space.  It was a trade for the last cycle.  He would avoid this and others in the space.  Rates have been so low for so long and these equities have been so high for so long.  E-commerce is displacing traditional retailers.


Price:
$26.580
Subject:
CANADIAN EQUITIES & FIXED INCOME
Bias:
BULLISH
Owned:
Unknown
2016-11-17 COMMENT Derek Warren

This is going to trade in line with the market. They sold their US portfolio, really lowering their debt and putting that money into development. He is looking for 2016-2017 to be a bit slow in earnings. At this level, it looks quite attractive. He likes REITs that have low debt levels.


Price:
$26.210
Subject:
REIT's
Bias:
UNKNOWN
Owned:
Unknown
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