RE:RE:RE:RIOCANspacegimp wrote: also the NOI is getting stronger and they have lots of cash coming in from condo sales in the next 12 months .
They have $600 million of cash coming in from condo sales for 2025 and bit of 2026. And that money is going all to debt reduction.
Even though RioCan has been getting really great rates relative to other REITs, when the Bank of Canada raised, it did have quite an impact on RioCan's income statement if you look at the Interest Expense line item.
So now, they're going to have cash to pay off about 10% of their entire debt, plus they have the tailwind of decreasing interest rates.
This is the only REIT I know that has the cash coming in this year like this, plus they are also able to get much lower rates than other typical REITs. So I'm glad just continuing to pick up shares while they are cheap right now.
From a financials statements point of view, it's going to be an amazing year for RioCan next year. When sentiment changes and cooperates (and it inevitability will), RioCan will have no probem running up fast to and even above it's NAV of $25.05 (and rising).