Higher rents and occupancy levels helped lift cash flow in the latest quarter as the trust continued to plan for 12 new developments.
CANADIAN REIT (Toronto symbol REF.UN; www.creit.ca) owns 198 properties across Canada and Chicago, including retail (85), industrial (96) and office (17) buildings. These holdings make up 21.8 million square feet of leasable space. The trust’s occupancy rate is 94.9%.
In the three months ended September 30, 2016, Canadian REIT’s revenue rose 2.2%, to $99.7 million from $97.6 million a year earlier. Cash flow per unit rose 3.9%, to $0.79 from $0.76. The improvement was due to higher occupancy levels for its retail segment as well as higher rents on new leases.
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The trust aims to expand by developing its own properties rather than through large acquisitions. Over the next two to three years, it plans to add 1.1 million square feet of space with 12 developments. Canadian REIT takes on partners to help carry out big projects.
The stock trade at 14.3 times the trust’s forecast 2017 cash flow of $3.25 a unit. Canadian REIT raised its monthly distribution by 1.7% with the May 2016 payment, to $0.1525 from $0.15. It yields 3.9%.
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Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
This privacy policy is applicable to all TSI Network Visitors, Clients, Employees, Suppliers, Web sites, Management, and all other interested parties. Any links to or from our site are not covered by this policy. We encourage you to read the privacy policies of every site that you visit.
The privacy of the site/store visitor is very important to TSI Network, and is respected at all times. The information we receive from customers helps us to personalize and continually improve your online experience at TSI Network.
We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
We store subscriber and password files containing personal information securely. These files are stored in secure areas that are not accessible to the general public. We are always working to ensure the security of your personal information.
We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
This Policy is the sole authorized statement of TSI Network's practices with respect to the collection of personal information through TSI Network's websites and the subsequent use and disclosure of such information. Any summaries of this Policy generated by third party software or otherwise (for example, in connection with the "Platform for Privacy Preferences" or "P3P") shall have no legal effect, are in no way binding upon TSI Network, shall not be relied upon in substitute for this Policy, and neither supersede nor modify this Policy.
TSI Network may revise this Policy from time to time.
Legal Notices and Disclaimers
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Information presented on this web site or contained in our publications is not an offer, nor a solicitation, to buy or sell any securities referred to on the web site or in the publications. The material is general information intended for recipients who understand the risks associated with an investment in any securities referred to in the publications or on this web site. The Successful Investor has made no determination regarding whether an investment, course of action, or associated risks are suitable for the recipient.
