Riocan Real Estate Investment Trust (T:REI.UN)
Business Focus: Retail REITs
| Sector: Real Estate | Industry: Commercial REITs |
| Company Contact | |
| Address: | RioCan Yonge Eglinton Centre 2300 Yonge Street,, Suite 500 TORONTO ON M4P 1E4 |
| Tel: | 1-416-6468326 |
| Website: | https://www.riocan.com/English/home/default.aspx |
| IR: | See website |
| Key People | ||
| Jonathan Gitlin President, Chief Executive Officer, Trustee | Dennis Blasutti Chief Financial Officer | John Ballantyne Chief Operating Officer |
| Franca Smith Senior Vice President - Finance | Jennifer Suess Senior Vice President, General Counsel, ESG and Corporate Secretary | Terri Andrianopoulos Senior Vice President - People and Brand |
| Oliver Harrison Senior Vice President - Leasing and Tenant Experience | Andrew William Duncan Chief Investment Officer | |
| Business Overview |
| RioCan Real Estate Investment Trust is a Canada-based real estate investment trust. The Company owns, manages, and develops retail-focused mixed-use properties. Its portfolio includes leasing, development, and residential. The Company's properties are held by various tenants, such as grocery, pharmacy, liquor, personal services, and specialty and value retailers. The Company's portfolio is comprised of approximately 192 properties with an aggregate net leasable area of approximately 33.6 million square feet, including office, residential rental and 10 development properties. Its properties include 1293 Bloor Street West, 145 Woodbridge Avenue, 1556 Bank Street, 1650 - 1660 Carling Avenue, 1860 Bayview, 1910 Bank St, 1946 Robertson Road, 2323 Yonge Street, 2329 Yonge Street, 2335 Boul Lapiniere, 2345 Yonge Street, 2422 Fairview Street, 2453 Yonge Street, 279 Rue St. Charles, 2950 Carling Avenue, and 2955 Bloor Street West. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, RioCan Real Estate Investment Trust revenues decreased 7% to C$1.12B. Net income decreased 84% to C$38.8M. Revenues reflect Residential inventory sales decrease of 88% to C$13.8M, Property Management Services Revenue decrease of 10% to C$19M. Net income also reflects FV Adjustments on Investment Property increase of 87% to C$450.4M (expense). |
| Employees: | 568 as of Dec 31, 2023 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $12,106M as of Dec 31, 2023 |
| Annual revenue (TTM): | $1,124M as of Dec 31, 2023 |
| EBITDA (TTM): | $646.12M as of Dec 31, 2023 |
| Net annual income (TTM): | $38.80M as of Dec 31, 2023 |
| Free cash flow (TTM): | $64.10M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $6,772M as of Dec 31, 2023 |
| Shares outstanding: | 299,960,871 as of Apr 8, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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