CANADIAN REIT $41.64 (Toronto symbol REF.UN; Units outstanding: 68.0 million; Market cap: $2.8 billion; TSINetwork Rating: Extra Risk; Dividend yield: 3.6%; www.creit.ca) owns over 190 properties, including retail, industrial and office buildings, located across Canada and in Chicago. These properties contain over 19.6 million square feet of leasable area. The trust’s occupancy rate is 94.7%.
In the three months ended June 30, 2012, million from $80.3 million a year earlier. Cash flow per unit rose 12.1%, to $0.65 from $0.58.
Canadian REIT added $298.5 million of properties in the first half of this year, including two office buildings, a further investment in the Dartmouth Crossing (the largest unenclosed mall in Atlantic Canada) and the completion of several development projects. That total also included 50% of Calgary Place, a 575,000-square-foot office and retail complex it bought for $156.0 million in April 2012.
Canadian REIT raised its monthly distribution by 3.3% with the May 2012 payment, to $0.124 a unit from $0.12. That gives it a 3.6% yield.
The trust’s broad diversification cuts its risk. It has 37% of its assets in Alberta, followed by Ontario, 27%; Atlantic Canada, 12%; B.C., 11% Quebec, 9%; the Prairies, 2%; and the U.S., 2%. Shopping malls account for 52% of its properties, followed by office (25%) and industrial (23%).
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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.
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We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
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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
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