The report for ReoCan REIT is updated and rated Buy at $24.24.
When I first added RioCan to the site on July 9, 2011 rated Weak Buy (essentially a Hold) it was trading at 1.53 times book value. Now it is trading at a much more attractive 0.98 times book value. The unit price may be volatile in the next six months as the market digests the impact of its sale of its U.S. properties. For those looking for yield this seems like a reasonable bet.
The report for the RioCan preferred share is also updated and rated (lower) Buy at $18.59. These were shares were added to the site on July 9, 2011 also rated Weak Buy at $25.70. The appeal of rate reset shares at that time was that they would not fall in value if interest rates rose (as expected) due to the reset. Instead, interest rates unexpectedly fell a lot. Time has basically run out for these shares as the reset date is now only three months away. They may be of interest for those who seek yield and who expect rates to rise. In that case the buyer would choose the option of converting this to a floating rate on March 31, 2016 yielding a projected 4.2% and hope for rates to rise.