18:20:13 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



RioCan Real Estate Investment Trust
Symbol REI
Shares Issued 315,811,906
Close 2015-03-31 C$ 28.97
Market Cap C$ 9,149,070,917
Recent Sedar Documents

Globe says Riocan, other Cdn REITS may be undervalued

2015-04-01 09:46 ET - In the News

Also In the News (C-BEI) Boardwalk Real Estate Investment Trust
Also In the News (C-CAR) Canadian Apartment Properties REIT
Also In the News (C-CWT) Calloway Real Estate Investment Trust

The Globe and Mail reports in its Wednesday edition that Canadian real estate investment trusts are the cheapest relative to their United States peers since the financial crisis. A Bloomberg dispatch to the Post reports that McLean & Partners Wealth Management manager Anil Tahiliani says: "It's a good time to invest in Canadian REITs. ... They're partly reflecting concerns about the Canadian economy, housing and the effect of low oil. But we're going to be in a low-interest-rate environment, and Canada is still better off." Real estate values north of the 49th parallel have fallen as oil prices drop by half and the Canadian dollar slides. That has lowered the price of Canadian REITs, and pushed their yields more than two percentage points above U.S. REITs. As the U.S. real estate market recovered from the financial crisis, property stocks have rallied. The 165-company U.S. Bloomberg REIT index has gained 136 per cent since the start of 2009, compared with a 100-per-cent increase for their Canadian peers. Sentry manager Michael Missaghi says, "That spread is very wide right now between U.S. and Canada, so on that basis Canada looks attractive."

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