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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: $12,255M 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: 299,955,784 as of Jan 3, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization