Live News • May 07
RioCan REIT Achieves Record Occupancy and Reaffirms Growth Targets for 2026 RioCan reported Q1 2026 results with record leasing spreads and occupancy of 98.6%.
Core FFO per unit in Q1 2026 was steady year over year, and the trust reaffirmed its 2026 guidance for core FFO and NOI growth.
Management is guiding for at least 3.5% annual core FFO growth through 2028, supported by high occupancy and a focus on necessity-based retail, while maintaining a 5.3% distribution yield and a payout ratio described as manageable.
For you as an investor, the key takeaway is the combination of solid operating metrics and clear guidance. Record leasing spreads and occupancy at 98.6% suggest RioCan is filling space and signing new leases at rates above expiring rents. This feeds into the reaffirmed 2026 outlook for core FFO and NOI. The trust’s focus on necessity-based retail tenants is presented as a support for high occupancy and leasing spreads over the next few years.
The 5.3% distribution yield, together with a payout ratio described as manageable, points to an income profile that management positions as sustainable based on current information. Capital recycling and disciplined investments are also highlighted as tools to support long-term value creation. This may matter if you are weighing income today against potential income and asset quality over time. Reported Earnings • May 06
First quarter 2026 earnings released: EPS: CA$0.32 (vs CA$0.28 loss in 1Q 2025) First quarter 2026 results: EPS: CA$0.32 (up from CA$0.28 loss in 1Q 2025). Revenue: CA$296.1m (up 79% from 1Q 2025). Net income: CA$93.2m (up CA$177.3m from 1Q 2025). Profit margin: 32% (up from net loss in 1Q 2025). Revenue is expected to decline by 4.9% p.a. on average during the next 2 years, while revenues in the Retail REITs industry in Canada are expected to grow by 7.7%. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Declared Dividend • Apr 20
Dividend of CA$0.097 announced Shareholders will receive a dividend of CA$0.097. Ex-date: 30th April 2026 Payment date: 7th May 2026 Dividend yield will be 5.4%, which is lower than the industry average of 6.2%. Announcement • Apr 16
RioCan Real Estate Investment Trust Announces April 2026 Distribution, Payable on May 7, 2026 RioCan Real Estate Investment Trust announced a distribution of 9.65 cents per unit for the month of April. The distribution will be payable on May 7, 2026, to unitholders of record as at April 30, 2026. Announcement • Apr 02
RioCan Real Estate Investment Trust to Report Q1, 2026 Results on May 04, 2026 RioCan Real Estate Investment Trust announced that they will report Q1, 2026 results After-Market on May 04, 2026 Announcement • Mar 25
RioCan Real Estate Investment Trust, Annual General Meeting, Jun 02, 2026 RioCan Real Estate Investment Trust, Annual General Meeting, Jun 02, 2026. Announcement • Mar 24
Riocan Real Estate Investment Trust Announces Chief Financial Officer Changes RioCan Real Estate Investment Trust announced the appointment of Franca Smith as Interim Chief Financial Officer, effective March 23, 2026, during the temporary medical leave of Dennis Blasutti. Ms. Smith joined RioCan in 2017 as Vice President, Finance, and has served as Senior Vice President, Finance since 2022. In this capacity, she leads the Trust’s financial reporting and controls, corporate taxation, accounting, and internal audit functions. Ms. Smith previously served as RioCan’s Interim Chief Financial Officer from May to September 2021, providing continuity of financial leadership and effective oversight of the finance function. Her prior experience in the role, together with her deep institutional knowledge and understanding of RioCan’s business and strategy, positions her to ensure seamless and uninterrupted execution during this period. Dennis Blasutti is on temporary medical leave. Declared Dividend • Mar 19
Dividend of CA$0.097 announced Shareholders will receive a dividend of CA$0.097. Ex-date: 31st March 2026 Payment date: 8th April 2026 Dividend yield will be 6.1%, which is about the same as the industry average. Announcement • Mar 14
RioCan Real Estate Investment Trust Announces March 2026 Distribution, payable on April 8, 2026 RioCan Real Estate Investment Trust announced a distribution of 9.65 cents per unit for the month of March 2026. The distribution will be payable on April 8, 2026, to unitholders of record as at March 31, 2026. Announcement • Mar 12
RioCan Real Estate Investment Trust announced that it has received CAD 200 million in funding On March 11, 2026, RioCan Real Estate Investment Trust closed the transaction. Declared Dividend • Feb 20
Dividend of CA$0.097 announced Shareholders will receive a dividend of CA$0.097. Ex-date: 27th February 2026 Payment date: 6th March 2026 Dividend yield will be 5.9%, which is lower than the industry average of 6.2%. Reported Earnings • Feb 18
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: CA$0.23 (down from CA$1.58 in FY 2024). Revenue: CA$1.23b (down 8.2% from FY 2024). Net income: CA$69.3m (down 85% from FY 2024). Profit margin: 5.6% (down from 35% in FY 2024). Revenue exceeded analyst estimates by 20%. Earnings per share (EPS) missed analyst estimates by 79%. Revenue is forecast to grow 2.3% p.a. on average during the next 2 years, compared to a 3.7% growth forecast for the Retail REITs industry in Canada. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 3% per year. Announcement • Feb 18
RioCan Real Estate Investment Trust Announces Distribution for February 2026, Payable on March 6, 2026 RioCan Real Estate Investment Trust announced a distribution of 9.65 cents per unit for the month of February. The distribution will be payable on March 6, 2026, to unitholders of record as at February 27, 2026. New Risk • Feb 15
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: CA$695k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.4% net profit margin). Significant insider selling over the past 3 months (CA$695k sold). Declared Dividend • Jan 19
Dividend of CA$0.097 announced Shareholders will receive a dividend of CA$0.097. Ex-date: 30th January 2026 Payment date: 6th February 2026 Dividend yield will be 5.8%, which is lower than the industry average of 6.2%. Announcement • Jan 16
RioCan Real Estate Investment Trust Announces January 2026 Distribution, Payable on February 6, 2026 RioCan Real Estate Investment Trust announced a distribution of 9.65 cents per unit for the month of January. The distribution will be payable on February 6, 2026, to unitholders of record as at January 30, 2026. Announcement • Jan 02
RioCan Real Estate Investment Trust to Report Q4, 2025 Results on Feb 17, 2026 RioCan Real Estate Investment Trust announced that they will report Q4, 2025 results After-Market on Feb 17, 2026 Declared Dividend • Dec 19
Dividend of CA$0.097 announced Shareholders will receive a dividend of CA$0.097. Ex-date: 31st December 2025 Payment date: 8th January 2026 Dividend yield will be 6.2%, which is about the same as the industry average. Recent Insider Transactions • Dec 18
Non-Executive Chairman of the Board recently sold CA$649k worth of stock On the 16th of December, Edward Sonshine sold around 35k shares on-market at roughly CA$18.54 per share. This transaction amounted to 7.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite the recent sale, Edward has been a net buyer over the last 12 months, purchasing a net total of CA$609k worth of shares. Announcement • Dec 16
RioCan Real Estate Investment Trust Announces December 2025 Distribution, Payable on January 8, 2026 RioCan Real Estate Investment Trust announced a distribution of 9.65 cents per unit for the month of December. The distribution will be payable on January 8, 2026, to unitholders of record as at December 31, 2025. Declared Dividend • Nov 20
Dividend of CA$0.097 announced Shareholders will receive a dividend of CA$0.097. Ex-date: 28th November 2025 Payment date: 5th December 2025 Dividend yield will be 6.1%, which is about the same as the industry average. Announcement • Nov 19
RioCan Real Estate Investment Trust Announces Distribution for the Month of November 2025, Payable on December 5, 2025 RioCan Real Estate Investment Trust announced a distribution of 9.65 cents per unit for the month of November. The distribution will be payable on December 5, 2025, to unitholders of record as at November 28, 2025. Recent Insider Transactions • Nov 16
Non-Executive Chairman of the Board recently bought CA$921k worth of stock On the 14th of November, Edward Sonshine bought around 50k shares on-market at roughly CA$18.42 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Edward has been a buyer over the last 12 months, purchasing a net total of CA$1.3m worth in shares. Reported Earnings • Nov 07
Third quarter 2025 earnings released: CA$0.41 loss per share (vs CA$0.32 profit in 3Q 2024) Third quarter 2025 results: CA$0.41 loss per share (down from CA$0.32 profit in 3Q 2024). Revenue: CA$325.8m (up 1.0% from 3Q 2024). Net loss: CA$120.3m (down 224% from profit in 3Q 2024). Revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Retail REITs industry in Canada. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 4% per year. New Risk • Nov 07
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 69% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Dividend is not well covered by earnings (252% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.4% net profit margin). Declared Dividend • Oct 20
Dividend of CA$0.097 announced Shareholders will receive a dividend of CA$0.097. Ex-date: 31st October 2025 Payment date: 7th November 2025 Dividend yield will be 6.1%, which is about the same as the industry average. Announcement • Oct 16
RioCan Real Estate Investment Trust Announces October 2025 Distribution, Payable on November 7, 2025 RioCan Real Estate Investment Trust announced a distribution of 9.65 cents per unit for the month of October. The distribution will be payable on November 7, 2025, to unitholders of record as at October 31, 2025. Announcement • Sep 19
RioCan Real Estate Investment Trust announced that it expects to receive CAD 200 million in funding RioCan Real Estate Investment Trust announced a private placement of Series AP senior unsecured debentures for an aggregate principal amount of CAD 200,000,000 on September 18, 2025.The series AP senior unsecured debentures will bear interest at a rate of 4.4175% per annum and will mature on October 1, 2032. The transaction is subject to customary closing conditions and is expected to close on October 1, 2025 . Declared Dividend • Sep 18
Dividend of CA$0.097 announced Shareholders will receive a dividend of CA$0.097. Ex-date: 29th September 2025 Payment date: 7th October 2025 Dividend yield will be 6.0%, which is about the same as the industry average. Announcement • Sep 16
RioCan Real Estate Investment Trust Announces September 2025 Distribution, Payable on October 7, 2025 RioCan Real Estate Investment Trust announced a distribution of 9.65 cents per unit for the month of September 2025 . The distribution will be payable on October 7, 2025, to unitholders of record as at September 30, 2025. Declared Dividend • Aug 20
Dividend of CA$0.097 announced Shareholders will receive a dividend of CA$0.097. Ex-date: 29th August 2025 Payment date: 8th September 2025 Dividend yield will be 6.3%, which is about the same as the industry average. Announcement • Aug 16
Riocan Real Estate Investment Trust Announces August 2025 Distribution, Payable on September 8, 2025 RioCan Real Estate Investment Trust announced a distribution of 9.65 cents per unit for the month of August. The distribution will be payable on September 8, 2025, to unitholders of record as at August 29, 2025. Reported Earnings • Aug 08
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: CA$377.3m (up 23% from 2Q 2024). Net income: CA$145.6m (up 19% from 2Q 2024). Profit margin: 39% (down from 40% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 2.7% growth forecast for the Retail REITs industry in Canada. Announcement • Aug 08
Riocan Real Estate Investment Trust Announces Resignation of Richard Dansereau as Board Trustee, Effective June 30, 2025 RioCan Real Estate Investment Trust announced that effective June 30, 2025, Richard Dansereau resigned from his position as a Trustee on RioCan’s Board of Trustees. Mr. Dansereau’s resignation follows his recent appointment to an executive role at Desjardins Global Asset Management, the terms of which do not permit him to serve on outside public Boards. As a result of this resignation, RioCan’s Board of Trustees is now comprised of nine members. Buy Or Sell Opportunity • Jul 31
Now 20% undervalued Over the last 90 days, the stock has risen 2.1% to CA$17.65. The fair value is estimated to be CA$22.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 36%. Revenue is forecast to grow by 4.6% in 2 years. Earnings are forecast to grow by 88% in the next 2 years. Declared Dividend • Jul 18
Dividend of CA$0.097 announced Shareholders will receive a dividend of CA$0.097. Ex-date: 31st July 2025 Payment date: 8th August 2025 Dividend yield will be 6.4%, which is about the same as the industry average. Announcement • Jul 16
RioCan Real Estate Investment Trust Announces July 2025 Distribution, Payable on August 8, 2025 RioCan Real Estate Investment Trust announced a distribution of 9.65 cents per unit for the month of July. The distribution will be payable on August 8, 2025, to unitholders of record as at July 31, 2025. Buy Or Sell Opportunity • Jul 07
Now 20% undervalued Over the last 90 days, the stock has risen 9.3% to CA$17.67. The fair value is estimated to be CA$22.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 36%. Revenue is forecast to grow by 4.3% in 2 years. Earnings are forecast to grow by 87% in the next 2 years. Announcement • Jul 02
RioCan Real Estate Investment Trust to Report Q2, 2025 Results on Aug 07, 2025 RioCan Real Estate Investment Trust announced that they will report Q2, 2025 results After-Market on Aug 07, 2025 Board Change • Jul 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 5 highly experienced directors. Independent Trustee Guy Metcalfe was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Jun 20
Dividend of CA$0.097 announced Shareholders will receive a dividend of CA$0.097. Ex-date: 30th June 2025 Payment date: 8th July 2025 Dividend yield will be 6.4%, which is about the same as the industry average. Announcement • Jun 18
Riocan Real Estate Investment Trust Announces June 2025 Distribution, Payable on July 8, 2025 RioCan Real Estate Investment Trust announced a distribution of 9.65 cents per unit for the month of June. The distribution will be payable on July 8, 2025, to unitholders of record as at June 30, 2025. Announcement • May 28
An undisclosed buyer agreed to acquire 50% stake in Four Living Residential Rental Properties of RioCan Real Estate Investment Trust from RioCan Real Estate Investment Trust (TSX:REI.UN). An undisclosed buyer agreed to acquire 50% stake in Four Living Residential Rental Properties of RioCan Real Estate Investment Trust from RioCan Real Estate Investment Trust (TSX:REI.UN) on May 27, 2025. The transaction is expected to close in Q3 2025. Declared Dividend • May 19
Dividend of CA$0.097 announced Shareholders will receive a dividend of CA$0.097. Ex-date: 30th May 2025 Payment date: 6th June 2025 Dividend yield will be 6.4%, which is about the same as the industry average. Announcement • May 16
RioCan Real Estate Investment Trust Announces Distribution for the Month of May 2025, Payable on June 6, 2025 RioCan Real Estate Investment Trust announced a distribution of 9.65 cents per unit for the month of May 2025. The distribution will be payable on June 6, 2025, to unitholders of record as at May 30, 2025. Recent Insider Transactions • May 09
Non-Executive Chairman of the Board recently bought CA$337k worth of stock On the 8th of May, Edward Sonshine bought around 20k shares on-market at roughly CA$16.86 per share. This transaction amounted to 4.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Edward's only on-market trade for the last 12 months. Announcement • May 07
Boardwalk Real Estate Investment Trust (TSX:BEI.UN) signed an agreement to acquire 50% stake in Brio from RioCan Real Estate Investment Trust (TSX:REI.UN) for approximately $38 million. Boardwalk Real Estate Investment Trust (TSX:BEI.UN) signed an agreement to acquire 50% stake in Brio from RioCan Real Estate Investment Trust (TSX:REI.UN) for approximately $38 million on May 5, 2025. The transaction is expected to close in the Q3 of 2025, following approval of the assumption of the remaining 50% interest in the existing mortgages. Reported Earnings • May 07
First quarter 2025 earnings released First quarter 2025 results: Funds from operations (FFO): CA$145.6m (up 7.1% from 1Q 2024). New Risk • May 06
New major risk - Revenue and earnings growth Earnings have declined by 6.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (3.0x net interest cover). Earnings have declined by 6.1% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Declared Dividend • Apr 19
Dividend of CA$0.097 announced Shareholders will receive a dividend of CA$0.097. Ex-date: 30th April 2025 Payment date: 7th May 2025 Dividend yield will be 6.5%, which is higher than the industry average of 6.2%. Announcement • Apr 16
RioCan Real Estate Investment Trust Announces April 2025 Distribution, Payable on May 7, 2025 RioCan Real Estate Investment Trust announced a distribution of 9.65 cents per unit for the month of April 2025. The distribution will be payable on May 7, 2025, to unitholders of record as at April 30, 2025. Announcement • Apr 02
RioCan Real Estate Investment Trust, Annual General Meeting, Jun 10, 2025 RioCan Real Estate Investment Trust, Annual General Meeting, Jun 10, 2025. Announcement • Mar 31
RioCan Real Estate Investment Trust to Report Q1, 2025 Results on May 05, 2025 RioCan Real Estate Investment Trust announced that they will report Q1, 2025 results After-Market on May 05, 2025 Declared Dividend • Mar 21
Dividend of CA$0.097 announced Shareholders will receive a dividend of CA$0.097. Ex-date: 31st March 2025 Payment date: 7th April 2025 Dividend yield will be 6.5%, which is about the same as the industry average. Announcement • Mar 18
RioCan Real Estate Investment Trust Announces March 2025 Distribution, Payable on April 7, 2025 RioCan Real Estate Investment Trust announced a distribution of 9.65 cents per unit for the month of March. The distribution will be payable on April 7, 2025, to unitholders of record as at March 31, 2025. Declared Dividend • Feb 21
Dividend of CA$0.097 announced Shareholders will receive a dividend of CA$0.097. Ex-date: 28th February 2025 Payment date: 7th March 2025 Dividend yield will be 5.7%, which is lower than the industry average of 6.2%. Announcement • Feb 20
RioCan Real Estate Investment Trust announces Monthly dividend, payable on March 07, 2025 RioCan Real Estate Investment Trust announced Monthly dividend of CAD 0.0965 per share payable on March 07, 2025, ex-date on February 28, 2025 and record date on February 28, 2025. Reported Earnings • Feb 19
Full year 2024 earnings released: EPS: CA$1.58 (vs CA$0.13 in FY 2023) Full year 2024 results: EPS: CA$1.58 (up from CA$0.13 in FY 2023). Revenue: CA$1.34b (up 14% from FY 2023). Net income: CA$473.5m (up CA$434.7m from FY 2023). Profit margin: 35% (up from 3.3% in FY 2023). The increase in margin was primarily driven by lower expenses. Revenue is expected to decline by 3.2% p.a. on average during the next 2 years, while revenues in the Retail REITs industry in Canada are expected to grow by 3.3%. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Feb 13
RioCan Real Estate Investment Trust announced that it has received CAD 549.991 million in funding On February 12, 2025, RioCan Real Estate Investment Trust closed the transaction. Announcement • Jan 22
RioCan Real Estate Investment Trust announced that it expects to receive CAD 549.991 million in funding RioCan Real Estate Investment Trust announced a private placement of Series AN senior unsecured debentures for an aggregate principal amount of CAD 250,000,000 and 3,000,000 Series AO senior unsecured debentures at an issue price of CAD 99.997 for an aggregate principal amount of CAD 299,991,000 for aggregate gross proceeds of CAD 549,991,000 on January 21, 2025.The series AN senior unsecured debentures will bear interest at a rate of 0.85% per annum and will mature on March 31, 2027, and series AO senior unsecured debentures will bear an interest rate of 4.671% per annum and will mature on March 1, 2032. The transaction is subject to customary closing conditions and is expected to close on February 12, 2025. Declared Dividend • Jan 19
Dividend of CA$0.092 announced Shareholders will receive a dividend of CA$0.092. Ex-date: 31st January 2025 Payment date: 7th February 2025 Dividend yield will be 6.1%, which is about the same as the industry average. Announcement • Jan 16
RioCan Real Estate Investment Trust Announces January 2025 Distribution, Payable on February 7, 2025 RioCan Real Estate Investment Trust announced a distribution of 9.25 cents per unit for the month of January 2025. The distribution will be payable on February 7, 2025, to unitholders of record as at January 31, 2025. Announcement • Jan 02
RioCan Real Estate Investment Trust to Report Q4, 2024 Results on Feb 18, 2025 RioCan Real Estate Investment Trust announced that they will report Q4, 2024 results After-Market on Feb 18, 2025 Declared Dividend • Dec 19
Dividend of CA$0.092 announced Shareholders will receive a dividend of CA$0.092. Ex-date: 31st December 2024 Payment date: 8th January 2025 Dividend yield will be 6.1%, which is about the same as the industry average. Announcement • Dec 17
RioCan Real Estate Investment Trust Announces December 2024 Distribution, Payable on January 8, 2025 RioCan Real Estate Investment Trust announced a distribution of 9.25 cents per unit for the month of December 2024. The distribution will be payable on January 8, 2025, to unitholders of record as at December 31, 2024. Declared Dividend • Nov 20
Dividend of CA$0.092 announced Shareholders will receive a dividend of CA$0.092. Ex-date: 29th November 2024 Payment date: 6th December 2024 Dividend yield will be 5.9%, which is lower than the industry average of 6.2%. Announcement • Nov 16
RioCan Real Estate Investment Trust Announces November 2024 Distribution, Payable on December 6, 2024 RioCan Real Estate Investment Trust announced a distribution of 9.25 cents per unit for the month of November. The distribution will be payable on December 6, 2024, to unitholders of record as at November 29, 2024. Reported Earnings • Nov 12
Third quarter 2024 earnings released: EPS: CA$0.32 (vs CA$0.24 loss in 3Q 2023) Third quarter 2024 results: EPS: CA$0.32 (up from CA$0.24 loss in 3Q 2023). Revenue: CA$322.5m (up 11% from 3Q 2023). Net income: CA$96.9m (up CA$170.4m from 3Q 2023). Profit margin: 30% (up from net loss in 3Q 2023). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Retail REITs industry in Canada. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Declared Dividend • Oct 18
Dividend of CA$0.092 announced Shareholders will receive a dividend of CA$0.092. Ex-date: 31st October 2024 Payment date: 7th November 2024 Dividend yield will be 5.6%, which is lower than the industry average of 6.2%. Announcement • Oct 16
RioCan Real Estate Investment Trust Announces October 2024 Distribution, Payable on November 7, 2024 RioCan Real Estate Investment Trust announced a distribution of 9.25 cents per unit for the month of October 2024. The distribution will be payable on November 7, 2024, to unitholders of record as at October 31, 2024. Announcement • Oct 04
RioCan Real Estate Investment Trust announced that it has received CAD 700 million in funding On October 3, 2024, RioCan Real Estate Investment Trust closed the transaction. Announcement • Oct 01
RioCan Real Estate Investment Trust to Report Q3, 2024 Results on Nov 11, 2024 RioCan Real Estate Investment Trust announced that they will report Q3, 2024 results After-Market on Nov 11, 2024 Announcement • Sep 24
RioCan Real Estate Investment Trust announced that it expects to receive CAD 700 million in funding RioCan Real Estate Investment Trust announced a private placement of Series AL senior unsecured debentures for an aggregate principal amount of CAD 500,000,000 and Series AM senior unsecured debentures for an aggregate principal amount of CAD 200,000,000, for aggregate gross proceeds of CAD 700,000,000 on September 23, 2024. The series AL senior unsecured debentures will bear interest at a rate of 4.623% per annum and will mature on October 3, 2031 and series AM senior unsecured debentures will bear an interest rate of 4.004% per annum and will mature on March 1, 2028. The transaction is subject to customary closing conditions and is expected to close on October 3, 2024. Declared Dividend • Sep 20
Dividend of CA$0.092 announced Shareholders will receive a dividend of CA$0.092. Ex-date: 27th September 2024 Payment date: 7th October 2024 Dividend yield will be 5.4%, which is lower than the industry average of 6.2%. Announcement • Sep 17
Riocan Real Estate Investment Trust Announces September 2024 Distribution, Payable on October 7, 2024 RioCan Real Estate Investment Trust announced a distribution of 9.25 cents per unit for the month of September 2024. The distribution will be payable on October 7, 2024, to unitholders of record as at September 30, 2024. Declared Dividend • Aug 19
Dividend of CA$0.092 announced Shareholders will receive a dividend of CA$0.092. Ex-date: 30th August 2024 Payment date: 9th September 2024 Dividend yield will be 6.2%, which is about the same as the industry average. Announcement • Aug 16
RioCan Real Estate Investment Trust Announces August 2024 Distribution, Payable on September 9, 2024 RioCan Real Estate Investment Trust announced a distribution of 9.25 cents per unit for the month of August. The distribution will be payable on September 9, 2024, to unitholders of record as at August 30, 2024. Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: CA$0.41 (vs CA$0.37 in 2Q 2023) Second quarter 2024 results: EPS: CA$0.41 (up from CA$0.37 in 2Q 2023). Revenue: CA$305.8m (up 5.7% from 2Q 2023). Net income: CA$122.4m (up 9.3% from 2Q 2023). Profit margin: 40% (up from 39% in 2Q 2023). Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Retail REITs industry in Canada. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Declared Dividend • Jul 18
Dividend of CA$0.092 announced Shareholders will receive a dividend of CA$0.092. Ex-date: 31st July 2024 Payment date: 8th August 2024 Dividend yield will be 6.2%, which is about the same as the industry average. Announcement • Jul 16
RioCan Real Estate Investment Trust Announces July 2024 Distribution, Payable on August 8, 2024 RioCan Real Estate Investment Trust announced a distribution of 9.25 cents per unit for the month of July. The distribution will be payable on August 8, 2024, to unitholders of record as at July 31, 2024. Buy Or Sell Opportunity • Jul 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.4% to CA$16.76. The fair value is estimated to be CA$21.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 8.3% in 2 years. Earnings are forecast to grow by 1,047% in the next 2 years. Announcement • Jul 04
RioCan Real Estate Investment Trust to Report Q2, 2024 Results on Aug 08, 2024 RioCan Real Estate Investment Trust announced that they will report Q2, 2024 results After-Market on Aug 08, 2024 Declared Dividend • Jun 20
Dividend of CA$0.092 announced Shareholders will receive a dividend of CA$0.092. Ex-date: 28th June 2024 Payment date: 8th July 2024 Dividend yield will be 6.6%, which is higher than the industry average of 6.2%. Announcement • Jun 18
RioCan Real Estate Investment Trust Announces Distribution for the Month of June 2024, Payable on July 8, 2024 RioCan Real Estate Investment Trust announced a distribution of 9.25 cents per unit for the month of June, 2024. The distribution will be payable on July 8, 2024, to unitholders of record as at June 28, 2024. Buy Or Sell Opportunity • Jun 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.7% to CA$17.05. The fair value is estimated to be CA$21.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 1,040% in the next 2 years. Announcement • Jun 01
RioCan Real Estate Investment Trust announced that it has received CAD 299.999978 million in funding On May 31, 2024, RioCan Real Estate Investment Trust closed the transaction. Declared Dividend • May 20
Dividend of CA$0.092 announced Shareholders will receive a dividend of CA$0.092. Ex-date: 31st May 2024 Payment date: 7th June 2024 Dividend yield will be 6.2%, which is about the same as the industry average. Announcement • May 16
RioCan Real Estate Investment Trust Announces Distribution for the Month of May 2024, Payable on June 7, 2024 RioCan Real Estate Investment Trust announced a distribution of 9.25 cents per unit for the month of May 2024. The distribution will be payable on June 7, 2024, to unitholders of record as at May 31, 2024. Buy Or Sell Opportunity • May 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.9% to CA$17.54. The fair value is estimated to be CA$22.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 1,040% in the next 2 years. Reported Earnings • May 08
First quarter 2024 earnings released: EPS: CA$0.43 (vs CA$0.39 in 1Q 2023) First quarter 2024 results: EPS: CA$0.43 (up from CA$0.39 in 1Q 2023). Revenue: CA$332.1m (up 13% from 1Q 2023). Net income: CA$128.6m (up 9.0% from 1Q 2023). Profit margin: 39% (down from 40% in 1Q 2023). Revenue is forecast to grow 9.5% p.a. on average during the next 2 years, compared to a 3.5% growth forecast for the Retail REITs industry in Canada. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Apr 25
Upcoming dividend of CA$0.092 per share Eligible shareholders must have bought the stock before 29 April 2024. Payment date: 07 May 2024. Trailing yield: 6.3%. Lower than top quartile of Canadian dividend payers (6.6%). In line with average of industry peers (6.7%). Declared Dividend • Apr 18
Dividend of CA$0.092 announced Shareholders will receive a dividend of CA$0.092. Ex-date: 29th April 2024 Payment date: 7th May 2024 Dividend yield will be 6.1%, which is about the same as the industry average. Announcement • Apr 16
RioCan Real Estate Investment Trust Announces April 2024 Distribution, Payable on May 7, 2024 RioCan Real Estate Investment Trust announced a distribution of 9.25 cents per unit for the month of April. The distribution will be payable on May 7, 2024, to unitholders of record as at April 30, 2024. Buy Or Sell Opportunity • Apr 10
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.4% to CA$18.35. The fair value is estimated to be CA$23.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 15% in 2 years. Earnings are forecast to grow by 1,435% in the next 2 years. Announcement • Apr 02
RioCan Real Estate Investment Trust to Report Q1, 2024 Results on May 07, 2024 RioCan Real Estate Investment Trust announced that they will report Q1, 2024 results After-Market on May 07, 2024 Announcement • Mar 29
RioCan Real Estate Investment Trust announced that it has received CAD 450 million in funding On March 28, 2024, RioCan Real Estate Investment Trust closed the transaction. As on the same date, the company has issued 5.47% series AJ senior unsecured non-convertible debentures for gross proceeds of $150,000,000 million in its second and final tranche, bringing the total funding raised to CAD 450,000,000 million in the transaction. Announcement • Mar 26
RioCan Real Estate Investment Trust, Annual General Meeting, Jun 04, 2024 RioCan Real Estate Investment Trust, Annual General Meeting, Jun 04, 2024. Buy Or Sell Opportunity • Mar 22
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at CA$18.36. The fair value is estimated to be CA$23.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 15% in 2 years. Earnings are forecast to grow by 1,435% in the next 2 years. 
