RioCan Real Estate Investment (REI.UN.TO)…

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RioCan Real Estate Investment (REI.UN.TO)

22.35

-0.20 (0.89%)

as of Jul 30, 2026, 8:00:00 pm Market Open.

582 watching

Investor Insights

Jul 30, 2026, 12:00 am

This summary was created by AI, based on 4 opinions in the last 12 months.

RioCan Real Estate Investment Trust (REI.UN-T) has garnered mixed reviews from experts. While some agree that it offers a decent 5% dividend with high occupancy rates and solid tenant renewal rates, there are concerns regarding the broader economic environment in Canada, particularly in the retail sector, where softness is evident due to inflation and negative GDP numbers. The high payout ratio in Canadian REITs, including RioCan, raises questions about financial flexibility and growth potential. However, some believe that RioCan's focus on grocery-anchored and open-air shopping centers provides it with a stable growth outlook, despite challenges like investments in multi-family units and enclosed malls. Overall, the sentiment is cautious but acknowledges the relatively low risk associated with the dividend yield compared to other investment options.

Consensus

Cautious

Valuation

Fair Value

Similar

PLD

DON'T BUY

Just cut distribution. Largest mall operator in Canada, and many aren't paying rent. Question is will people and tenants come back. It's on the wrong side of the trend. Steer clear. He owns CAP, apartment buildings are terrific assets. Also owns Crombie (grocery) and Granite (industrial) REITs.

HOLD

The dividend cut is a prudent move by REI. They are looking into the future and judging the sustainability of the tenants. Pulling the dividend back to ride out difficult periods is a good idea. The recovery will not be smooth. They have tried to diversify more into residential markets. A well-managed company.

BUY

It overshot to levels that are now attractive. Yes, retail has been pressured during Covid, but the selling of REI is overdone. REI has done a great job to re-focus their portfolio within Canada's best markets. They now have a better portfolio, building multi-family units and executing well. There's real value here. Their 9% dividend will likely be cut, though.

COMMENT

Better value than BPY.UN. This issued equity at $25 just a year ago. The CEO says the dividend is safe and will stay that way. They do a fine job to concentrate on key markets in Canada. It's stable short-term. Has a growing portfolio outside retail that will add a lot of value. Pays a safe dividend over 10%.

PAST TOP PICK

(A Top Pick Sep 04/19, Down 41%) Sold it in mid-January, luckily. The stock has slid in half since. He didn't see the pandemic and oil price coming then, and now there's too much uncertainty in the retail space to return to it.

DON'T BUY

Bulk of their business is in retail, and that's the difficult part of the story. Reassessing retail in Canada and globally. They have a mall with one big client, and then a lot of smaller ones whose future is uncertain.

PAST TOP PICK

(A Top Pick Aug 07/19, Down 38%) He sold before COVID hit. He was lucky. He actually made money on this stock. Retail REITs still haven't recovered. He's happy to be out, even at these lower prices. Can the dividend survive?

DON'T BUY

Their difficulty is the retail spaces and all the variable that will influence its future value. A very difficult environment for malls as growth in sales is not there. Stay away. Look for apartment REITs instead.

DON'T BUY

It is not one of his favourites. SRU.UN-T would be a preference.

DON'T BUY

It has diversified to a certain extent. They have put up other kinds of real estate within their malls. If you want to be in real estate, then there are much better places to be.

WEAK BUY

It is a great company, focused on retail and a growing portfolio in multi-family and office. They have done a very good job. They will probably be opportunistic. It trades at a wide discount and he thinks the dividend is safe; however he sees more value elsewhere.

COMMENT

REITs have been reporting that 60-80% of renters with small businesses did not require rent assistance last month. That worries him as we are really only one month into the lock downs. Absent any further government relief the real estate asset classes he prefers holding are apartment buildings and US industrial warehousing.

PAST TOP PICK

(A Top Pick Apr 11/19, Down 27%) He got out at a profit. He bought about 3 years ago. He sold in January because of concerns about its valuation and growth relative to other opportunities. It is almost a pure play on retail.

PAST TOP PICK

(A Top Pick Apr 11/19, Up 1%) He sold it in January. It was getting fully valued with tepid growth. An excellent operator, owning commercial real estate, but there are better opportunities elsewhere.

COMMENT

He is not crazy about malls these days. He is excited about their development pipelines, however. They are building apartments, but they will likely be just 10% of their business. It is a solid company with a safe dividend, however.

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RioCan Real Estate Investment (REI.UN.TO)