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RioCan: Proving Us Wrong, One Residential Building At A Time


  • We had a neutral outlook on RioCan and felt another REIT could deliver better results.
  • RioCan executed superbly in 2021 and guided for some impressive growth.
  • We examine the recent results and the guidance and see if it can change where we stand.
  • I do much more than just articles at Conservative Income Portfolio: Members get access to model portfolios, regular updates, a chat room, and more. Learn More »

Safeway store, Calgary

jewhyte/iStock Editorial via Getty Images

All values are in CAD unless noted otherwise.

We last covered RioCan Real Estate Investment Trust (OTCPK:RIOCF) (TSX: REI.UN) back in May 2021. It was trading at a discount unlike its brethren SmartCentres Real Estate Investment Trust (

RioCan and SmartCentres chart
Data by YCharts


Occupancy (RioCan Presentation Q4-2021)

Leasing Spreads

Leasing Spreads (RioCan Presentation Q4-2021)

Rent Per Sq Foot

Rent Per Sq Foot (RioCan Presentation Q4-2021)

Debt Load

Debt Load (RioCan Presentation Q4-2021)

Debt Ladder

Debt Ladder (RioCan Presentation Q4-2021)

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This article was written by

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The best way to provide income in today's markets while reducing risks

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of HRUFF either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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