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REI.

RioCan Real Estate Investment Trust TSX:REI.UN Stock Report

Last Price

CA$22.14

Market Cap

CA$6.9b

7D

0.8%

1Y

5.0%

Updated

22 May, 2022

Data

Company Financials +
REI.UN fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance1/6
Financial Health1/6
Dividends3/6

REI.UN Stock Overview

RioCan is one of Canada’s largest real estate investment trusts.

RioCan Real Estate Investment Trust Competitors

Price History & Performance

Summary of all time highs, changes and price drops for RioCan Real Estate Investment Trust
Historical stock prices
Current Share PriceCA$22.14
52 Week HighCA$26.11
52 Week LowCA$20.65
Beta1.18
1 Month Change-9.85%
3 Month Change-10.51%
1 Year Change4.98%
3 Year Change-16.74%
5 Year Change-12.97%
Change since IPO216.29%

Recent News & Updates

Shareholder Returns

REI.UNCA REITsCA Market
7D0.8%0.05%0.8%
1Y5.0%0.01%4.9%

Return vs Industry: REI.UN exceeded the Canadian REITs industry which returned 0% over the past year.

Return vs Market: REI.UN matched the Canadian Market which returned 4.9% over the past year.

Price Volatility

Is REI.UN's price volatile compared to industry and market?
REI.UN volatility
REI.UN Average Weekly Movement3.1%
REITs Industry Average Movement3.5%
Market Average Movement9.9%
10% most volatile stocks in CA Market16.9%
10% least volatile stocks in CA Market4.3%

Stable Share Price: REI.UN is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: REI.UN's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/a607Jonathan Gitlinhttps://www.riocan.com

RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at September 30, 2020, our portfolio is comprised of 221 properties with an aggregate net leasable area of approximately 38.4 million square feet (at RioCan's interest) including office, residential rental and 16 development properties.

RioCan Real Estate Investment Trust Fundamentals Summary

How do RioCan Real Estate Investment Trust's earnings and revenue compare to its market cap?
REI.UN fundamental statistics
Market CapCA$6.86b
Earnings (TTM)CA$651.72m
Revenue (TTM)CA$1.23b

10.5x

P/E Ratio

5.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
REI.UN income statement (TTM)
RevenueCA$1.23b
Cost of RevenueCA$480.58m
Gross ProfitCA$748.45m
Other ExpensesCA$96.74m
EarningsCA$651.72m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)2.10
Gross Margin60.90%
Net Profit Margin53.03%
Debt/Equity Ratio83.4%

How did REI.UN perform over the long term?

See historical performance and comparison

Dividends

4.6%

Current Dividend Yield

57%

Payout Ratio

Does REI.UN pay a reliable dividends?

See REI.UN dividend history and benchmarks
When do you need to buy REI.UN by to receive an upcoming dividend?
RioCan Real Estate Investment Trust dividend dates
Ex Dividend DateMay 30 2022
Dividend Pay DateJun 07 2022
Days until Ex dividend7 days
Days until Dividend pay date15 days

Does REI.UN pay a reliable dividends?

See REI.UN dividend history and benchmarks

Valuation

Is RioCan Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


34.0%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: REI.UN (CA$22.14) is trading below our estimate of fair value (CA$33.55)

Significantly Below Fair Value: REI.UN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: REI.UN is poor value based on its PE Ratio (10.5x) compared to the Canadian REITs industry average (6.4x).

PE vs Market: REI.UN is good value based on its PE Ratio (10.5x) compared to the Canadian market (11.4x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate REI.UN's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: REI.UN's PB Ratio (0.9x) is in line with the CA REITs industry average.


Future Growth

How is RioCan Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-3.5%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if REI.UN's forecast earnings growth is above the savings rate (1.6%).

Earnings vs Market: Insufficient data to determine if REI.UN's earnings are forecast to grow faster than the Canadian market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: REI.UN's revenue is expected to decline over the next 3 years (-3.5% per year).

High Growth Revenue: REI.UN's revenue is forecast to decline over the next 3 years (-3.5% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if REI.UN's Return on Equity is forecast to be high in 3 years time


Past Performance

How has RioCan Real Estate Investment Trust performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-16.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: REI.UN has a large one-off gain of CA$123.4M impacting its March 31 2022 financial results.

Growing Profit Margin: REI.UN became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: REI.UN's earnings have declined by 16.6% per year over the past 5 years.

Accelerating Growth: REI.UN has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: REI.UN has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (160.8%).


Return on Equity

High ROE: REI.UN's Return on Equity (8.1%) is considered low.


Financial Health

How is RioCan Real Estate Investment Trust's financial position?

Financial Health Score

1/6

Financial Health Score 1/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: REI.UN's short term assets (CA$555.6M) do not cover its short term liabilities (CA$1.1B).

Long Term Liabilities: REI.UN's short term assets (CA$555.6M) do not cover its long term liabilities (CA$6.2B).


Debt to Equity History and Analysis

Debt Level: REI.UN's net debt to equity ratio (82.4%) is considered high.

Reducing Debt: REI.UN's debt to equity ratio has increased from 72% to 83.4% over the past 5 years.

Debt Coverage: REI.UN's debt is not well covered by operating cash flow (7.6%).

Interest Coverage: REI.UN's interest payments on its debt are well covered by EBIT (4.1x coverage).


Balance Sheet


Dividend

What is RioCan Real Estate Investment Trust current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


4.61%

Current Dividend Yield

Upcoming Dividend Payment

TodayMay 23 2022Ex Dividend DateMay 30 2022Dividend Pay DateJun 07 20228 days from Ex DividendBuy in the next 7 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: REI.UN's dividend (4.61%) is higher than the bottom 25% of dividend payers in the Canadian market (1.91%).

High Dividend: REI.UN's dividend (4.61%) is low compared to the top 25% of dividend payers in the Canadian market (4.91%).


Stability and Growth of Payments

Stable Dividend: REI.UN's dividend payments have been volatile in the past 10 years.

Growing Dividend: REI.UN's dividend payments have fallen over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (57.3%), REI.UN's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (61.9%), REI.UN's dividend payments are covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.7yrs

Average management tenure


CEO

Jonathan Gitlin (48 yo)

3.17yrs

Tenure

CA$4,380,405

Compensation

Mr. Jonathan Gitlin serves as Chief Executive Officer and Additional Trustee at RioCan Real Estate Investment Trust since April 1, 2021. Mr. Gitlin served as the Chief Operating Officer of Riocan Real Esta...


CEO Compensation Analysis

Compensation vs Market: Jonathan's total compensation ($USD3.41M) is about average for companies of similar size in the Canadian market ($USD4.71M).

Compensation vs Earnings: Jonathan's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: REI.UN's management team is considered experienced (2.7 years average tenure).


Board Members

Experienced Board: REI.UN's board of directors are considered experienced (6.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: REI.UN insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

RioCan Real Estate Investment Trust's employee growth, exchange listings and data sources


Key Information

  • Name: RioCan Real Estate Investment Trust
  • Ticker: REI.UN
  • Exchange: TSX
  • Founded: NaN
  • Industry: Retail REITs
  • Sector: Real Estate
  • Implied Market Cap: CA$6.861b
  • Shares outstanding: 309.89m
  • Website: https://www.riocan.com

Number of Employees


Location

  • RioCan Real Estate Investment Trust
  • RioCan Yonge Eglinton Centre
  • Suite 500
  • Toronto
  • Ontario
  • M4P 1E4
  • Canada

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/22 00:00
End of Day Share Price2022/05/20 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.