Riocan is one of Canada’s longest standing REITs, with a focus on retail real estate.  The company’s unit price fell by 50% as COVID exacerbated headwinds in the retail industry, with many tenants refusing or unable to pay rent in the early months of the pandemic.

Despite assurances from management early in the year that the dividend was safe, the Company recently announced a 33% cut to its distribution.

Shares (units) offer investors a 5.5% yield at the reduced distribution rate.  This video looks at Riocan to see if it is an attractive opportunity for investors.

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