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RioCan Real Estate Investment Trust
-4.62%
Real estate / REIT
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RioCan Real Estate Investment Trust is a Canadian real estate investment trust (REIT) that specializes in the ownership, management, and development of retail properties. The company was founded in 1993 and is headquartered in Toronto, Ontario. RioCan is one of the largest REITs in Canada, with a portfolio of over 230 properties totaling approximately 39 million square feet.
The company's properties are located primarily in urban and suburban markets across Canada, with a focus on the Greater Toronto Area, Montreal, and Vancouver. RioCan's portfolio includes a mix of grocery-anchored, mixed-use, and "big box" retail properties, as well as development and redevelopment projects.
RioCan is led by a team of experienced real estate and finance professionals who have a track record of successfully acquiring, developing, and managing high-quality properties. The company's strategy is to own high-quality assets in prime locations, with long-term, stable cash flow and potential for capital appreciation.
In addition to its core retail portfolio, RioCan also has a growing presence in the residential rental market. The company has been redeveloping some of its retail properties into mixed-use developments that include residential units, catering to the increasing demand for urban living.
Overall, RioCan is a well-established and reputable company in the Canadian real estate market, known for its strong portfolio and steady performance.
The company's properties are located primarily in urban and suburban markets across Canada, with a focus on the Greater Toronto Area, Montreal, and Vancouver. RioCan's portfolio includes a mix of grocery-anchored, mixed-use, and "big box" retail properties, as well as development and redevelopment projects.
RioCan is led by a team of experienced real estate and finance professionals who have a track record of successfully acquiring, developing, and managing high-quality properties. The company's strategy is to own high-quality assets in prime locations, with long-term, stable cash flow and potential for capital appreciation.
In addition to its core retail portfolio, RioCan also has a growing presence in the residential rental market. The company has been redeveloping some of its retail properties into mixed-use developments that include residential units, catering to the increasing demand for urban living.
Overall, RioCan is a well-established and reputable company in the Canadian real estate market, known for its strong portfolio and steady performance.
What is special about the company?
1. Largest REIT in Canada: RioCan is the largest real estate investment trust (REIT) in Canada with a market capitalization of over $8.5 billion as of 2021. It owns and manages a diverse portfolio of retail properties across Canada, making it a leading player in the country's commercial real estate market.
2. Focus on High-Quality Properties: RioCan has a significant focus on acquiring and developing high-quality properties with strong long-term growth potential. This includes prime retail locations in high-traffic areas, such as urban centers and major transportation nodes, that are leased to reputable tenants.
3. Diversified Portfolio: The company has a well-diversified portfolio that includes over 200 properties, spanning 37 million square feet of gross leasable area. These properties include shopping centers, grocery-anchored plazas, mixed-use developments, and residential properties, providing stability and resilience to the company's earnings.
4. Strong Tenant Base: RioCan has a high-quality and stable tenant base, with over 8,500 tenants, including major multinational retailers, leading grocery chains, and well-known brands. This helps ensure consistent rental income and reduces the risk of vacancies.
5. Strategic Partnerships: The company has formed strategic partnerships with reputable organizations, such as Canadian Pension Plan Investment Board and KingSett Capital, to help optimize its portfolio and drive long-term growth.
6. Strong Financial Performance: RioCan has a track record of delivering strong financial performance, generating consistent annual growth in net operating income (NOI) and funds from operations (FFO). This has allowed the company to continually increase dividends to shareholders.
7. ESG Focus: RioCan has a strong focus on environmental, social, and governance (ESG) factors and has set ambitious targets to reduce its carbon footprint, promote diversity and inclusion, and improve governance practices. The company's efforts in this area have been recognized by various organizations, including earning a spot on the Dow Jones Sustainability World Index.
8. Experienced Management Team: RioCan's management team has a wealth of experience in the real estate industry, with a proven track record in value creation and driving growth. Their expertise has helped the company navigate through various economic cycles and position it for future success.
9. Commitment to Sustainability: RioCan is committed to sustainable practices and has implemented various environmental initiatives, such as implementing energy-efficient technologies, green roofs, and waste diversion programs. This commitment not only benefits the environment but also helps reduce operating costs and generate long-term value for shareholders.
10. Strong Potential for Growth: With its strong financial position, diversified portfolio, and strategic partnerships, RioCan has significant potential for long-term growth. The company is well-positioned to take advantage of future opportunities in the Canadian retail real estate market and continue delivering value to shareholders.
2. Focus on High-Quality Properties: RioCan has a significant focus on acquiring and developing high-quality properties with strong long-term growth potential. This includes prime retail locations in high-traffic areas, such as urban centers and major transportation nodes, that are leased to reputable tenants.
3. Diversified Portfolio: The company has a well-diversified portfolio that includes over 200 properties, spanning 37 million square feet of gross leasable area. These properties include shopping centers, grocery-anchored plazas, mixed-use developments, and residential properties, providing stability and resilience to the company's earnings.
4. Strong Tenant Base: RioCan has a high-quality and stable tenant base, with over 8,500 tenants, including major multinational retailers, leading grocery chains, and well-known brands. This helps ensure consistent rental income and reduces the risk of vacancies.
5. Strategic Partnerships: The company has formed strategic partnerships with reputable organizations, such as Canadian Pension Plan Investment Board and KingSett Capital, to help optimize its portfolio and drive long-term growth.
6. Strong Financial Performance: RioCan has a track record of delivering strong financial performance, generating consistent annual growth in net operating income (NOI) and funds from operations (FFO). This has allowed the company to continually increase dividends to shareholders.
7. ESG Focus: RioCan has a strong focus on environmental, social, and governance (ESG) factors and has set ambitious targets to reduce its carbon footprint, promote diversity and inclusion, and improve governance practices. The company's efforts in this area have been recognized by various organizations, including earning a spot on the Dow Jones Sustainability World Index.
8. Experienced Management Team: RioCan's management team has a wealth of experience in the real estate industry, with a proven track record in value creation and driving growth. Their expertise has helped the company navigate through various economic cycles and position it for future success.
9. Commitment to Sustainability: RioCan is committed to sustainable practices and has implemented various environmental initiatives, such as implementing energy-efficient technologies, green roofs, and waste diversion programs. This commitment not only benefits the environment but also helps reduce operating costs and generate long-term value for shareholders.
10. Strong Potential for Growth: With its strong financial position, diversified portfolio, and strategic partnerships, RioCan has significant potential for long-term growth. The company is well-positioned to take advantage of future opportunities in the Canadian retail real estate market and continue delivering value to shareholders.
What the company's business model?
RioCan Real Estate Investment Trust (REIT) is a Canadian real estate investment trust that owns and manages a portfolio of retail, office, and industrial properties across Canada. Founded in 1993, RioCan has evolved into one of Canada's largest and most diversified REITs.
The company's business model is based on acquiring and developing high-quality real estate assets, primarily in Canada's urban and suburban markets, and leasing them out to tenants with long-term lease agreements. RioCan's portfolio consists of approximately 230 properties totaling over 38 million square feet of leasable space.
The company's revenue is generated through rental income from its properties, as well as property management and development fees. RioCan's goal is to provide stable and growing cash distributions to its unitholders (investors) by employing a conservative approach to property management and focusing on strong tenant relationships and lease agreements.
As part of its business strategy, RioCan aims to diversify its property portfolio to reduce risk and maintain a balance between retail, office, and industrial properties. It also looks to expand its presence in key urban markets, capitalize on emerging trends in the real estate industry, and pursue strategic partnerships and joint ventures.
Overall, RioCan's business model is centered on providing investors with a stable and growing income stream through steady monthly distributions, while also seeking opportunities for long-term growth and value creation in the Canadian real estate market.
The company's business model is based on acquiring and developing high-quality real estate assets, primarily in Canada's urban and suburban markets, and leasing them out to tenants with long-term lease agreements. RioCan's portfolio consists of approximately 230 properties totaling over 38 million square feet of leasable space.
The company's revenue is generated through rental income from its properties, as well as property management and development fees. RioCan's goal is to provide stable and growing cash distributions to its unitholders (investors) by employing a conservative approach to property management and focusing on strong tenant relationships and lease agreements.
As part of its business strategy, RioCan aims to diversify its property portfolio to reduce risk and maintain a balance between retail, office, and industrial properties. It also looks to expand its presence in key urban markets, capitalize on emerging trends in the real estate industry, and pursue strategic partnerships and joint ventures.
Overall, RioCan's business model is centered on providing investors with a stable and growing income stream through steady monthly distributions, while also seeking opportunities for long-term growth and value creation in the Canadian real estate market.
Interesting facts about the company
1. RioCan Real Estate Investment Trust is the largest real estate investment trust (REIT) in Canada with a total market capitalization of approximately $9 billion.
2. The company was founded in 1993 by Edward Sonshine and Joel Rose, who served as President and CEO and Executive Vice President, respectively, until 2020.
3. RioCan REIT has a diverse portfolio of over 230 properties, including shopping centers, mixed-use developments, and office buildings, located in high-density urban markets across Canada.
4. The company’s property portfolio includes some of the most well-known and popular retail locations in Canada, such as the Toronto Eaton Centre, Scotia Plaza, and Yonge Eglinton Centre.
5. RioCan REIT has a strong track record of growth and consistently delivers top-tier returns to its investors. Since going public in 1994, the company has delivered an average annual total return of 11.3% per unit.
6. In 2019, RioCan REIT launched its “RioCan Living” residential brand, with a focus on building high-quality, purpose-built rental properties in key urban markets.
7. The company is committed to sustainability and has set ambitious environmental goals, including reducing its carbon emissions by 30% by 2030 and achieving net-zero carbon emissions by 2050.
8. RioCan REIT has been recognized for its commitment to social responsibility, receiving a score of A- in the 2020 Global Real Estate Sustainability Benchmark (GRESB) survey and being named one of Canada’s Most Admired Corporate Cultures by Waterstone Human Capital.
9. The REIT recently announced a rebranding effort, changing its name from RioCan Real Estate Investment Trust to simply RioCan as part of a strategy to better reflect its diverse portfolio and future growth plans.
10. In response to the COVID-19 pandemic, RioCan REIT has implemented various measures to support its tenants, including deferring rent payments and providing financial assistance to small businesses. The company has also committed to a rent freeze for the year 2021 to support its tenants’ recovery efforts.
See Company Due Diligence:
2. The company was founded in 1993 by Edward Sonshine and Joel Rose, who served as President and CEO and Executive Vice President, respectively, until 2020.
3. RioCan REIT has a diverse portfolio of over 230 properties, including shopping centers, mixed-use developments, and office buildings, located in high-density urban markets across Canada.
4. The company’s property portfolio includes some of the most well-known and popular retail locations in Canada, such as the Toronto Eaton Centre, Scotia Plaza, and Yonge Eglinton Centre.
5. RioCan REIT has a strong track record of growth and consistently delivers top-tier returns to its investors. Since going public in 1994, the company has delivered an average annual total return of 11.3% per unit.
6. In 2019, RioCan REIT launched its “RioCan Living” residential brand, with a focus on building high-quality, purpose-built rental properties in key urban markets.
7. The company is committed to sustainability and has set ambitious environmental goals, including reducing its carbon emissions by 30% by 2030 and achieving net-zero carbon emissions by 2050.
8. RioCan REIT has been recognized for its commitment to social responsibility, receiving a score of A- in the 2020 Global Real Estate Sustainability Benchmark (GRESB) survey and being named one of Canada’s Most Admired Corporate Cultures by Waterstone Human Capital.
9. The REIT recently announced a rebranding effort, changing its name from RioCan Real Estate Investment Trust to simply RioCan as part of a strategy to better reflect its diverse portfolio and future growth plans.
10. In response to the COVID-19 pandemic, RioCan REIT has implemented various measures to support its tenants, including deferring rent payments and providing financial assistance to small businesses. The company has also committed to a rent freeze for the year 2021 to support its tenants’ recovery efforts.
See Company Due Diligence:
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