Markets were weak on Tuesday with the S&P 500 down 1.2% and Toronto down 1.0%.
Restaurant Brands International was strong with a 2.8% gain.
AutoCanada was notably weal with a 6.6% decline. They will report earnings tomorrow after the close of trading.
Today, after the close the Melcor REIT reported Q1 results. There were some good points and some negative points. Revenue was fairly stable. Occupancy was up slightly to 88.4%. Retention of expiring leases in the quarter was quite strong at 95.5% (but that may tend to be volatile as the amount expiring in any given quarter may be volatile. Cash flow was apparently down 35%. But Funds from Operation which is a better measure of performance was down 8% as expenses were up. Overall, the results were “okay” given the circumstances of the weak demand for office space. It appears that the distribution is secure at its current level.
Starbucks reported a strong Q1.