RioCan Real Estate Investment Trust T.REI.UN

Last time I recall

[Shirtlessnomore]

A company saying they wont cut the dividend and did was tony Marino and vermillion, it was a bloodbath, lots of other factors there that arent present here but I cant imagine it will be very well recieved. No one likes a liar. Jmo. At the end of the day if it goes up I win and if it goes down I win so whatever but I doubt very much it goes up. Many of the companies that did cut back in march used the funds wisely paying down debt and such but to do it now after claiming they wouldnt will prob have some ill effects

[EstevanOutsider]

there is no comparison and sonshine is not a liar. again, read the Q3 conference call if you are not short. sonshine clearly stated the dividend could be reduced in favor of a buyback.

[Shirtlessnomore]

Apologize for calling him that then. I'm not short I own some now. If he doesnt buyback he will then be a liar.

[EstevanOutsider]

Doug Ford pressed for his crazy lockdown shortly after that conference call. I don't blame Riocan at all and I think the REIT is priced for a dividend reduction. We'll find out tmrw.

[Lacas24]

It is a terrible move. Plain and simple. This is not a significant cut to save meaningful cash but enough to send shockwave throughout already on the edge retail investors. I have a rather large amount of Riocan and I will bail. Not because I am scared to lose money on the stock. It is due to the terrible decision or greed by the management. If you cut because you want buybacks lower then go to

[Lacas24]

Buyback favor over dividend? Are you kidding me? How did I miss that info? That's an automatic out in my book

[canadian]

Stop whining and sell the stock. They got approval to build a mini city (shoppers world)

[Lacas24]

Oh I will. Don't worry about that. I will let you enjoy your mini city dreams while I am up substantially on BPY and SRU and collecting 9+% dividend.

[Reitguy]

Ask yourself this.  Did leaving the dividend at its original price help the sp?  I believe Ed thought it would, he also underestimated the severity of covid or at least the way society reacted to it. Go back and watch all his public interviews.  

[gashole]

He lost credibility for REI with his comments the dividend was safe, lots and lots of small investors chased the yield because it was "safe" and trusted him.. Now they are going to dump it.. Look at HR, they did a much better job, cutting right away, now it yields 4.7%... I think this goes back to a 7% yield temproarily.. then rebounds slowly as the bigger investors start buying. There

[Covidruinedme]

this is why i never bought riocan pre covid, i was following it for a whil but took me very little time to see how old fashion and awfully stupid ( in certain ways that harms shareholders ), he is old and does not change with the changing market like most young and seasoned CEOs, he is stuck with the mentality he had 50 years ago, they are still selling residentials and expanding retail in an era

[EstevanOutsider]

Buybacks are a great way to enhance long-term shareholder value while the REIT is trading at a substantially discounted multiple to normal years. But, I think they are doing it more then anything to be prudent.

[Lacas24]

That's the most misinformed inexperienced answer of the day. Cutting dividend to favor buybacks almost never works out for your favor. The stock is going to crater raising payout ratio plus you are getting payed less. Most importantly the company put ahead their interest in front of the shareholders. It is very easy to prove. Just take a look where is BPY or SRU. Much better recovery

[EstevanOutsider]

You totally contradict yourself. BPY only recovered because of BAM buyback.  If not, it would have been trading at a substantially lower stockprice. I did well on BPY, bought at $13 and sold at $19 to buy SRU and some Riocan.

[Lacas24]

Where is the contradiction in that? What do I care who and what or why a stock went up? It did because they didn't butcher their stock even when it was yielding 13% with a payout of 140%. Instead they swung for a fence and bought their stock back. That's smart management. Not cutting dividend on the highest level in 7 month. What knucklehead does that if not lining their own pocket? They