On Monday, stocks were mostly down most of the day but finished the day higher with the S&P 500 up 0.4% and Toronto up 0.8%.
With RioCan under $15 today, I added to my position. It seems undervalued. But that depends on how soon the retail sector is opened back up and how far back to normal it gets.
I also bought today some of the Canadian Tire REIT. It’s not on our list but I may add it. It has held up far better than some other REITs because of its parent, Canadian Tire making up so much of its revenue adn that seems reliable.They just reported tonight that “Tenants representing approximately 96.5% of annual base minimum rent fulfilled their May 1 financial obligations to the REIT, compared to 97.2% for April 1.” They also reported Q1 results. Although they did have some market value losses on buildings their cashflows were up. Subject to further analysis, I think it is good value under $12.