Midtown Urbanist
Superstar
It's funny, as Covid raged, I kept thinking about the massive scale of this project and wondering if it made Riocan nervous.
Today they cut their dividend.
That said, the financials show them to be in excellent health with lots of liquidity, but it is interesting to see them making a move to conserve cash and be prudent.
My forays into investing has led me to the conclusion that there is no correlation between stock prices and REIT financials, leverage positions, or portfolio + development potential. Was disappointed to see them slash their dividends though.
I had kinda expected RioCan to be hit harder by COVID than other REITs though given there portfolio of retail in smaller Canadian markets. They were actively dumping it + investing in multi-residential (like here at The Well) when COVID hit.
That green glass plopped up on Allied's radar, no?I guess the cheap, green glass is part of their move to conserve cash.