RioCan REIT : REI.UN
RioCan REIT has reached an agreement to issue, on a bought deal basis, $100million unsecured debentures. The debentures will carry a coupon of 3.746% and will mature on May 30, 2022. The proceeds will be used to fund property acquisitions, development, repay debts, and other general purposes. The full press release can be found here.
H&R REIT : HR.UN
H&R REIT enters into joint venture with Tishman Speyer to Acquire Parcel for Mixed-Use development in Long Island City, NY. The official press release and details PDF can be downloaded here.
Canadian Apartment REIT : CAR.UN
July 4, 2014 -- Canadian Apartment REIT announces normal course issuer bid:Read more: CAR.UN - NCIB - 7/4/14
Dream REIT : D.UN
June 18, 2014 -- Dream REIT renews normal course issuer bid:Read more: D.UN - NCIB - 6/18/14
REIT Update Sep-29-2014
After a fairly good month of performance for the REIT group in August, the month of September has seen the group give most of that back, and then some.
The Federal Open Market Committee official statement mid-September was mainly positive for the group, and other interest rate securities, as the "committee continues to anticipate that likely will be appropriate to maintain the current target range for the federal funds rate for a considerable time after the asset purchase program ends" (Source: Financial Post goo.gl/oaG1ia). The September performance of the group largely moved in-step with the S&P/TSX, both losing about 4.0% for the month. So, the September performance can be considered a market-wide weakness v.s. a industry specific weakness. As a comparison, the S&P/TSX Capped Financial Index, a composite measure of major financial stocks on the S&P/TSX index, lost approximately 3.0% in the same period.
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