CANADIAN REIT $48.21(Toronto symbol REF.UN; Units outstanding: 72.4 million; Market cap: $3.5 billion; TSINetwork Rating: Extra Risk; Dividend yield: 3.6%; www.creit.ca) owns 198 properties, including retail, industrial and office buildings, across Canada and in Chicago. These holdings contain 24.6 million square feet of leasable area. The trust’s occupancy rate is 95.3%.
In the three months ended September 30, 2014, Canadian REIT’s revenue rose 1.5%, to $100.8 million from $99.3 million a year earlier. Cash flow per unit gained 2.8%, to $0.74 from $0.72.
Canadian REIT added $191.1 million worth of buildings in 2013. That followed $401.9 million of purchases in 2012, including 50% of Calgary Place, a 575,000-square-foot office and retail complex, for $156.0 million. So far this year, it has made one acquisition: a 261,000-square-foot industrial property near Toronto’s Pearson International Airport for $29.3 million.
The trust pays a monthly distribution of $0.1458, for a 3.6% yield.
The REIT’s broad diversification cuts its risk. It has 36% of its assets in Alberta, followed by Ontario, 27%; Atlantic Canada, 14%; Quebec, 11%; B.C., 9%; the Prairies, 1%; and the U.S., 2%. Shopping malls represent 54% of its square footage, followed by office (24%) and industrial (22%).
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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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