Updates: RIOCAN REAL ESTATE INVESTMENT TRUST, CANADIAN PACIFIC RAILWAY, and ENBRIDGE INC.

Article Excerpt

RIOCAN REAL ESTATE INVESTMENTTRUST $27.80 (Toronto symbol REI.UN; Unitsoutstanding: 297.3 million; Market cap: $8.3 billion;TSINetwork Rating: Average; Dividend yield: 5.1%;www.riocan.com) is raising its monthly distributionby 2.2% with the January 2013 payment, to $0.1175a unit from $0.115.The new annual rate of $1.41 yields 5.1%. This isthe first increase since 2008. (See more on RioCan inbox at right.)RioCan is still a buy.CANADIAN PACIFIC RAILWAY $104.10(Toronto symbol CP; Shares outstanding: 173.4million; Market cap: $18.1 billion; TSINetworkRating: Average; Dividend yield: 1.3%; www.cpr.ca)has announced a major restructuring plan aimed atimproving its efficiency. CP’s strategy includescutting 25% of its workforce, making its trains longerand faster, and closing some terminals.The company didn’t say how much these moveswould cost. However, the restructuring should helpcut its operating ratio from 74.1% to around 65% in2016. (Operating ratio is calculated by dividing acompany’s regular operating costs by its revenue.The lower the ratio, the better.)CP is up over 40% since we recommended it inMarch 2012 at $74.14. That was just after we…