RioCan Real Estate Investment (REI.UN-T) Stock Predictions - Stockchase
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502
RioCan Real Estate Investment (REI.UN-T)

ON STOCKCHASE SINCE Mar 2001

shopping centres/big box stores

property mngmnt/investment

RioCan Real Estate Invest... RioCan Real Estate Investment
REI.UN-T

257 502
property mngmnt/investment

RioCan Real Estate Investment (REI.UN-T) SAVE

24.85

0.08 (0.32%)

Sep, 21, 2018, 12:00 am

OPINIONS

About RioCan Real Estate Investment (REI.UN-T)

RioCan Real Estate Investment Trust is the second-largest real estate investment trust in Canada. It has an enterprise value of approximately $14 billion, and owns 289 primarily retail properties, with a net leasable area of 44 million square feet. More at Wikipedia

What the experts are saying about REI.UN-T



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HOLD

There primarily hold retail assets.  In a non-registered account, this is an awesome income generation with a good payout ratio.  They hold higher quality assets and they have been divesting some assets.  It also trades at a 15% discount to NAV.  Yield 5.8%.  

property mngmnt/investment

There primarily hold retail assets.  In a non-registered account, this is an awesome income generation with a good payout ratio.  They hold higher quality assets and they have been divesting some assets.  It also trades at a 15% discount to NAV.  Yield 5.8%.  

property mngmnt/investment
Rob Tetrault

Portfolio , Tetrault Wealth Advi...

Price Price
$0.000
Owned Owned
No

COMMENT

Not a lot of detail regarding cannabis retail market yet.  May be an opportunity for retail rentals and possibly good for them.  Too early to say what impact this may have for Riocan.

property mngmnt/investment

Not a lot of detail regarding cannabis retail market yet.  May be an opportunity for retail rentals and possibly good for them.  Too early to say what impact this may have for Riocan.

property mngmnt/investment
Christine Poole

CEO & Mana, GlobeInvest Capital ...

Price Price
$24.810
Owned Owned
Unknown

DON'T BUY

Solid management. But it’s in retail, which is not doing well. Transitioned out of US. Sears and Target receiverships. Nothing wrong with it. Neutral on it. Doesn’t like the retail sector, with the Amazon effect. Doesn’t foresee anything that will transform it. (Analysts’ price target is $27.00.)

property mngmnt/investment

Solid management. But it’s in retail, which is not doing well. Transitioned out of US. Sears and Target receiverships. Nothing wrong with it. Neutral on it. Doesn’t like the retail sector, with the Amazon effect. Doesn’t foresee anything that will transform it. (Analysts’ price target is $27.00.)

property mngmnt/investment
Paul Gardner, C

Partner an, Avenue Investment Ma...

Price Price
$24.820
Owned Owned
No

WEAK BUY

It is not a bad alternative for individuals in their retirement years.  You need to have your return expectations in check.  You are getting same property NOI in the single digits.  They are in the process of high grading their real estate and will be left with more core urban centers typically near transit.  You can't expect more than single digit returns.

property mngmnt/investment

It is not a bad alternative for individuals in their retirement years.  You need to have your return expectations in check.  You are getting same property NOI in the single digits.  They are in the process of high grading their real estate and will be left with more core urban centers typically near transit.  You can't expect more than single digit returns.

property mngmnt/investment
Stephen Groff

Principal , Cambridge Global Ass...

Price Price
$24.660
Owned Owned
Unknown

DON'T BUY

He does not presently hold any REITs today.  It is consumer retail sales orientated and is interest rate sensitive.  He is leery of both of these fundamental drivers.  

property mngmnt/investment

He does not presently hold any REITs today.  It is consumer retail sales orientated and is interest rate sensitive.  He is leery of both of these fundamental drivers.  

property mngmnt/investment
Norman Levine

Managing D, Portfolio Management...

Price Price
$24.440
Owned Owned
No

TOP PICK

284 properties.  They are high grading their portfolio.  They focus on the six biggest cities.  They are also doing projects involving commercial ground floor and residential above.  Their pipeline is rich with these sorts of opportunities.  Their yield may migrate from 6% to 3% keeping in line with residential REITs.  It is a bit contrarian.  (Analysts’ target: $27.00).

property mngmnt/investment

284 properties.  They are high grading their portfolio.  They focus on the six biggest cities.  They are also doing projects involving commercial ground floor and residential above.  Their pipeline is rich with these sorts of opportunities.  Their yield may migrate from 6% to 3% keeping in line with residential REITs.  It is a bit contrarian.  (Analysts’ target: $27.00).

property mngmnt/investment
Brian Madden

Senior VP , Goodreid Investment ...

Price Price
$24.340
Owned Owned
Yes

BUY

He has not increased his weight in it over the last few years.  Now that we have had rates go up it is a better time to enter a stock like this.  He likes to buy these at a 10% discount to NAV, which this one is.  XRE-T has been showing strength recently, which demonstrates how the sector is doing.

property mngmnt/investment

He has not increased his weight in it over the last few years.  Now that we have had rates go up it is a better time to enter a stock like this.  He likes to buy these at a 10% discount to NAV, which this one is.  XRE-T has been showing strength recently, which demonstrates how the sector is doing.

property mngmnt/investment
Robert Lauzon

Deputy Chi, Middlefield Capital ...

Price Price
$24.260
Owned Owned
Unknown

BUY

He's starting to warm up to retail REITs. It's really out of favour these days. Buy now and it will go sideways for 12 months before it ticks up. Take the dividend now before the stock rises later. He is comparing Riocan to Brookfield who usually buys properties early and are usually right. He wouldn't shy away from Riocan here.

property mngmnt/investment

He's starting to warm up to retail REITs. It's really out of favour these days. Buy now and it will go sideways for 12 months before it ticks up. Take the dividend now before the stock rises later. He is comparing Riocan to Brookfield who usually buys properties early and are usually right. He wouldn't shy away from Riocan here.

property mngmnt/investment
Steve DiGregori

Portfolio , Canoe Financial...

Price Price
$24.340
Owned Owned
No

DON'T BUY

He sold his position in RioCan and sees two headwinds: (a) risking interest rates and (b) competition for retail business from online retailing. RioCan is chiefly an operator of shopping malls and centers, and stores are going dark because of competition. Space vacated by Target and Sears has been hard to fill. He thinks that residential REITs such as apartment REITs offer better value.

property mngmnt/investment

He sold his position in RioCan and sees two headwinds: (a) risking interest rates and (b) competition for retail business from online retailing. RioCan is chiefly an operator of shopping malls and centers, and stores are going dark because of competition. Space vacated by Target and Sears has been hard to fill. He thinks that residential REITs such as apartment REITs offer better value.

property mngmnt/investment
David Baskin

President, Baskin Wealth Manage...

Price Price
$24.020
Owned Owned
No

DON'T BUY

Currently doesn’t own any REIT. Owned Riocan and sold a little while ago. It’s still largely retail and that’s been under pressure lately. The main problems with REIT is rising interest rates. If you’re going to own a REIT you’re better look for one that has a lot of growth and not the yield.

property mngmnt/investment

Currently doesn’t own any REIT. Owned Riocan and sold a little while ago. It’s still largely retail and that’s been under pressure lately. The main problems with REIT is rising interest rates. If you’re going to own a REIT you’re better look for one that has a lot of growth and not the yield.

property mngmnt/investment
Norman Levine

Managing D, Portfolio Management...

Price Price
$23.580
Owned Owned
No

COMMENT

They came under pressure in the last few years because of their exposure to retail and the sentiment around retail couldn’t be any worse. He thinks it is very difficult for them going forward to grow with their traditional assets. They prefer SmartCentres Real Estate Investment Trst (SRU.UN-T) which has 25% tied to Walmart. It is more agile being smaller. 

property mngmnt/investment

They came under pressure in the last few years because of their exposure to retail and the sentiment around retail couldn’t be any worse. He thinks it is very difficult for them going forward to grow with their traditional assets. They prefer SmartCentres Real Estate Investment Trst (SRU.UN-T) which has 25% tied to Walmart. It is more agile being smaller. 

property mngmnt/investment
Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$23.920
Owned Owned
No

BUY

Anything that is a yield proxy has been tough. Their growth profile is 3-4% vs 4-6% for the retail peers. The good news is that is trading 12% below their estimated net asset value. Trading at 15.3 times price to FFO which is the lowest it has been in a long time. This is a name really unexciting, but lots has to go wrong for this not to work. 

property mngmnt/investment

Anything that is a yield proxy has been tough. Their growth profile is 3-4% vs 4-6% for the retail peers. The good news is that is trading 12% below their estimated net asset value. Trading at 15.3 times price to FFO which is the lowest it has been in a long time. This is a name really unexciting, but lots has to go wrong for this not to work. 

property mngmnt/investment
Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$23.310
Owned Owned
Yes

DON'T BUY

He doesn’t own it. Real Estate hasn’t been a part of his portfolio for clients for some time. As rates move higher yield on names like this become less attractive. There are some vacancies that worries him.

property mngmnt/investment

He doesn’t own it. Real Estate hasn’t been a part of his portfolio for clients for some time. As rates move higher yield on names like this become less attractive. There are some vacancies that worries him.

property mngmnt/investment
Stan Wong

Director &, Private Wealth Manag...

Price Price
$23.140
Owned Owned
No

COMMENT

Well-run. Currently, they're getting out of suburban shopping malls to focus on large, urban centres, but they can't sell things on an accretive basis to pay down debt. It's a great story, but the costs are enormous--over a long time--to redevelop their properties in urban centres.

property mngmnt/investment

Well-run. Currently, they're getting out of suburban shopping malls to focus on large, urban centres, but they can't sell things on an accretive basis to pay down debt. It's a great story, but the costs are enormous--over a long time--to redevelop their properties in urban centres.

property mngmnt/investment
John O'Connell,

Chairman a, Davis Rea...

Price Price
$23.760
Owned Owned
Unknown

DON'T BUY

He holds no real estate. You're owning this for a roughly 6% yield which is likely safe. But he is concerned with large, empty storefronts in Toronto. REI's 200-day moving average is trending lower as interest rates move higher.

property mngmnt/investment

He holds no real estate. You're owning this for a roughly 6% yield which is likely safe. But he is concerned with large, empty storefronts in Toronto. REI's 200-day moving average is trending lower as interest rates move higher.

property mngmnt/investment
Stan Wong

Director &, Private Wealth Manag...

Price Price
$23.900
Owned Owned
No

Showing 1 to 15 of 502 entries
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1 Comment

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