RioCan Real Estate Investment Trust T.REI.UN

RE:RE:RE:GOOD THINK RIOCAN DIDNT PULL A COMINAR

[hroark7]

BlueGuitar1 wrote:

Cominar to me is like the baby blue properties in Monopoly.  There is money to be made whether being a slum lord or a Boardwalk type property.  Cominar got their dividend cut by 50%.  I will take RioCan's word that their dividend is safe.  Besides, there is now evidence that despite the rising Covid19 cases due to more and more testing, the death rate and hospitalization rate is really low now.  This is seen throughout the world now.  It looks like herd immunity is really happening.  By the time you hear this news in the MSM, the stock prices will have skyrocketed and FOMO will take place.  Time to accummulate good quality REITS like RioCan, Choice Properties, Smart Centers.

You just nailed it. I made a ton of money with Northview (NVU.UN), you can check my 5+ year post history to confirm this, and while I liked what it was doing as a company, it always sketched me out that the properties aren't very appealing and the management didn't really have much vision. Really glad to have moved my money over to Riocan. Riocan's buildings are all high quality, the management is sharp and has a vision. I just read an article from 3 years ago where Ed Sonshine laid out his vision by 2020 and wouldn't you know it, almost all the metrics he set out back then have been beaten: https://renx.ca/riocan-sell-100-properties-canada/ Quotes: "Sonshine also laid out managements vision of what RioCan will look like by 2020 when it has divested these properties, the first round of redevelopments are complete and a new round underway. First, it will have well over 90 per cent of its assets in Canadas six major markets, with over 50 per cent of those assets by revenue here, in the Greater Toronto Area, Sonshine said. Two, it will have annual same property growth of at least three per cent, resulting in FFO growth of at least five per cent, which will then allow our board to approve appropriate distribution increases, hopefully annually. Equally important, every property RioCan owns by then will have a story of what can be done to improve it, or change it, to adapt to whatever the changing face of business and population growth requires. That story on certain properties may be 20 years in the future, but that is OK.