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Riocan Real Estate Investment Trust (T:REI.UN)

Business Focus: Retail REITs

Sector:  Financials Industry:  Commercial REITs
See Regulatory Filings on SEDAR
Company Contact
Address: RioCan Yonge Eglinton Centre
2300 Yonge Street,, Suite 500
Tel: 1-416-6468326
IR: See website
Key People
Paul Victor Godfrey
Independent Chairman of the Board of Trustees
Franca Smith
Vice President - Finance
Jonathan Gitlin
President, Chief Operating Officer
Edward Sonshine
Chief Executive Officer, Trustee
Qi Tang
Chief Financial Officer, Senior Vice President
Jennifer Suess
Senior Vice President, General Counsel, Corporate Secretary
John Ballantyne
Senior Vice President - Asset Management
Andrew William Duncan
Senior Vice President - Developments
Oliver Harrison
Senior Vice President - Operations
Jeff Ross
Senior Vice President - Leasing and Tenant Coordination
Business Overview
RioCan Real Estate Investment Trust (RioCan) is a Canada-based closed-end real estate investment trust. The Trust owns and manages Canada's portfolio of shopping centers with ownership interests in a portfolio of 230 properties with an aggregate net leasable area (NLA) of approximately 39.1 million square feet, including residential rental and 13 development properties. The Trusts property portfolio includes grocery anchored, new format retail, urban retail, mixed use and non-grocery anchored centers of which approximately 190 properties are owned, which includes approximately 186 income properties and four properties under development, and approximately 40 are co-owned through joint arrangements with co-owners including approximately nine under development. The Trusts projects are categorized into urban/mixed use, renovation/backfill and greenfield/expansion.
Financial Overview
For the six months ended 30 June 2020, RioCan Real Estate Investment Trust revenues decreased 15% to C$556.1M. Net loss totaled C$247.9M vs. income of C$447.5M. Revenues reflect FFO per Share (Basic) decrease of 14% to C$0.41, FFO per Share (Diluted) decrease of 15% to C$0.41, Residential inventory sales decrease of 97% to C$3.1M, Property Management Services Revenue decrease of 60% to C$5.1M.
Employees: 587 as of Jun 30, 2020
Reporting Currency: Canadian Dollars
Enterprise value: $11,012M as of Jun 30, 2020
Annual revenue (TTM): $1,231M as of Jun 30, 2020
EBITDA (TTM): $664.85M as of Jun 30, 2020
Net annual income (TTM): $80.39M as of Jun 30, 2020
Free cash flow (TTM): $191.37M as of Jun 30, 2020
Net Debt Last Fiscal Year: $6,624M as of Jun 30, 2020
Shares outstanding: 317,250,579 as of Oct 13, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization