This report is for educational purposes only, and not to provide investment advice. Before making any investment decision, you should always do your own research or consult a investment professional.
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet. Estimates Estimates Estimates
See my website on stocks or see my blog at the following sites. www.spbrunner.com/stocks.html www.spbrunner.blogspot.com/
RioCan Real Estate TSX: REI.UN OTC: RIOCF www.riocan.com Fiscal Yr: Dec 31
Year 12/31/05 12/31/06 12/31/07 12/31/08 12/31/09 12/31/10 12/31/11 12/31/12 12/31/13 12/31/14 12/31/15 12/31/16 12/31/17 12/31/18 12/31/19 Value Description #Y Item
Accting Rules GAAP IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS
Split Date
Split
Revenue* $609.05 $646.41 $719.89 $763.85 $758.03 $887.00 $947.00 $1,091 $1,121 $1,204 $1,088 $1,133 $1,193 $1,252 75.33% <-Total Growth 10 Revenue For 2015 4-Traders uses $1039M
Increase 4.7% 6.1% 11.4% 6.1% -0.8% 17.0% 6.8% 15.2% 2.7% 7.4% -9.7% 4.2% 5.3% 4.9% 5.78% <-IRR #YR-> 10 Revenue For revenue, both most others
5 year Running Average $500.71 $561.23 $617.79 $664.17 $699.44 $755.03 $815.15 $889 $961 $1,050 $1,090 $1,127 $1,148 $1,174 3.66% <-IRR #YR-> 5 Revenue use $1087M.
Revenue per Share $3.11 $3.24 $3.41 $3.44 $3.13 $3.41 $3.39 $3.64 $3.69 $3.81 $3.37 $3.47 $3.65 $3.83 7.22% <-IRR #YR-> 10 5 yr Running Average
Increase -1.9% 4.2% 5.4% 0.8% -9.1% 9.1% -0.6% 7.1% 1.4% 3.4% -11.5% 2.9% 5.3% 4.9% 6.70% <-IRR #YR-> 5 5 yr Running Average
5 year Running Average $2.87 $3.05 $3.18 $3.27 $3.27 $3.33 $3.36 $3.40 $3.45 $3.59 $3.58 $3.60 $3.60 $3.63 0.69% <-IRR #YR-> 10 Revenue per Share
P/S (Price/Sales) Med 6.45 7.26 7.00 5.06 4.99 6.01 7.25 7.56 7.20 6.90 7.98 7.60 7.22 0.00 0.45% <-IRR #YR-> 5 Revenue per Share
P/S (Price/Sales) Close 7.34 7.77 6.39 3.97 6.35 6.44 7.79 7.58 6.72 6.94 7.02 7.67 7.30 6.96 1.65% <-IRR #YR-> 10 5 yr Running Average
*Rental Revenue in M CDN $ P/S Med 10 yr 7.10 5 yr 7.56 2.94% Diff M/C 1.38% <-IRR #YR-> 5 5 yr Running Average
-$646 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,133
-$947 $0 $0 $0 $0 $1,133
-$561 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,127
-$815 $0 $0 $0 $0 $1,127
-$3.24 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.47
-$3.39 $0.00 $0.00 $0.00 $0.00 $3.47
-$3.05 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.60
-$3.36 $0.00 $0.00 $0.00 $0.00 $3.60
AFFO* Annual statement $1.29 $1.32 $1.31 $1.09 $1.30 $1.29 $1.39 $1.48 $1.51 $1.57 $1.54 $1.48 $1.51 19.38% <-Total Growth 10 AFFO
Increase 2.3% -0.8% -16.8% 19.3% -0.8% 7.8% 6.5% 2.0% 4.0% -1.9% -3.9% 2.0% 1.79% <-IRR #YR-> 10 AFFO 19.38%
AFFO Yield 5.1% 6.0% 9.6% 5.5% 5.9% 4.9% 5.0% 6.0% 5.7% 6.6% 5.8% 5.5% 5.7% 3.61% <-IRR #YR-> 5 AFFO 19.38%
5 year Running Average $1.26 $1.26 $1.28 $1.31 $1.39 $1.45 $1.50 $1.52 $1.52 2.90% <-IRR #YR-> 6 5 yr Running Average #DIV/0!
Payout Ratio AFFO 100.58% 100.57% 103.82% 126.61% 106.15% 106.98% 99.28% 95.10% 93.38% 89.81% 91.56% 95.27% 93.38% 3.49% <-IRR #YR-> 5 5 yr Running Average 18.70%
5 year Running Average 106.89% 108.20% 107.84% 105.76% 99.82% 96.51% 93.69% 92.97% 92.64% 105.76% <-Median-> 7 Payout 5 yr Running Average
Price/AFFO Median 18.22 18.09 13.29 14.33 15.78 19.08 19.77 17.93 17.40 17.14 17.13 17.81 0.00 17.27 <-Median-> 10 P/AFFO Med
Price/AFFO High 20.74 20.71 16.84 18.21 17.92 20.85 21.01 19.94 18.58 19.17 19.49 18.24 0.00 19.33 <-Median-> 10 P/AFFO High
Price/AFFO Low 15.71 15.47 9.73 10.45 13.64 17.31 18.53 15.91 16.23 15.12 14.76 17.37 0.00 15.30 <-Median-> 10 P/AFFO Low
Price/AFFO Close 19.50 16.53 10.43 18.21 16.92 20.49 19.83 16.74 17.50 15.09 17.29 18.03 17.67 17.11 <-Median-> 10 P/AFFO Close
Trailing P/AFFO Close 16.91 10.35 15.15 20.18 20.33 21.36 17.82 17.86 15.69 16.96 17.32 18.03 17.39 <-Median-> 10 Trailing P/AFFO Close
Median Values DPR 10 Yrs 99.92% 5 Yrs 93.38% P/CF 5 Yrs in order 17.40 19.49 15.91 17.29 3.58% Diff M/C 4.36% Diff M/C 10 DPR 75% to 95% best
* Adjusted Funds From Operations
-$1.29 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.54
-$1.29 $0.00 $0.00 $0.00 $0.00 $1.54
-$1.26 $0.00 $0.00 $0.00 $0.00 $0.00 $1.50
-$1.26 $0.00 $0.00 $0.00 $0.00 $1.50
FFO Annual Statement
FFO $1.42 $1.45 $1.51 $1.48 $1.20 $1.45 $1.43 $1.52 $1.56 $1.65 $1.95 $1.68 $1.64 $1.68 16.21% <-Total Growth 10 FFO
Increase 4.8% 2.0% 4.5% -2.0% -18.9% 20.8% -1.4% 6.3% 2.6% 5.8% 18.2% -13.8% -2.4% 2.4% 1.51% <-IRR #YR-> 10 FFO 16.21%
FFO Yield 6.2% 5.7% 6.9% 10.8% 6.0% 6.6% 5.4% 5.5% 6.3% 6.2% 8.2% 6.3% 6.1% 6.3% 3.27% <-IRR #YR-> 5 FFO 17.48%
5 year Running Average $1.33 $1.36 $1.40 $1.44 $1.41 $1.42 $1.41 $1.42 $1.43 $1.52 $1.62 $1.67 $1.70 $1.72 2.10% <-IRR #YR-> 10 5 yr Running Average 23.10%
Payout Ratio FFO 89.80% 89.76% 87.91% 91.89% 115.00% 95.17% 96.50% 90.79% 90.22% 85.45% 72.31% 83.93% 85.98% 83.93% 3.41% <-IRR #YR-> 5 5 yr Running Average 18.25%
5 year Running Average 87.69% 88.98% 89.66% 90.01% 94.11% 95.19% 96.57% 97.18% 96.75% 91.43% 86.16% 83.94% 83.11% 81.98% 92.77% <-Median-> 10 Payout 5 yr Running Average
Price/FFO Median 14.14 16.26 15.81 11.76 13.02 14.15 17.21 18.08 17.01 15.93 13.80 15.70 16.07 15.76 <-Median-> 10 Price/FFO Median
Price/FFO High 16.08 18.50 18.11 14.91 16.54 16.07 18.81 19.21 18.92 17.00 15.43 17.87 16.46 17.43 <-Median-> 10 Price/FFO High
Price/FFO Low 12.20 14.02 13.52 8.61 9.49 12.23 15.62 16.94 15.10 14.85 12.17 13.53 15.68 13.53 <-Median-> 10 Price/FFO Low
Price/FFO Close 16.08 17.40 14.45 9.23 16.54 15.17 18.48 18.13 15.88 16.02 12.15 15.85 16.27 15.88 15.86 <-Median-> 10 Price/FFO Close
Trailing P/FFO Close 16.85 17.75 15.09 9.05 13.41 18.33 18.23 19.27 16.30 16.94 14.36 13.66 15.88 16.27 15.70 <-Median-> 10 Trailing P/FFO Close
Median Values DPR 10 Yrs 90.51% 5 Yrs 85.45% P/CF 5 Yrs in order 15.93 17.87 14.85 15.88 2.14% Diff M/C 3.24% Diff M/C 10 DPR 75% to 95% best
FFO (Funds from Operations) and Distri Inc available can be as important as EPS
-$1.45 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.68
-$1.43 $0.00 $0.00 $0.00 $0.00 $1.68
-$1.36 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.67
-$1.41 $0.00 $0.00 $0.00 $0.00 $1.67
EPS Basic $0.68 $0.83 $0.16 $0.67 $0.49 $1.23 $3.26 $4.59 $2.30 $2.11 $0.40 $2.51 $1.69 $1.76 202.41% <-Total Growth 10 EPS Basic
Pre-split 1998 $0.16
EPS* $0.68 $0.83 $0.84 $0.67 $0.49 $1.22 $3.25 $4.57 $2.29 $2.10 $0.40 $2.51 $2.51 $2.51 202.41% <-Total Growth 10 EPS Diluted
Increase -21.8% 22.1% 0.8% -19.9% -26.9% 149.0% 166.4% 40.6% -49.9% -8.3% -81.0% 527.5% 0.0% 0.0% 11.70% <-IRR #YR-> 10 Earnings per Share 202.41%
Earnings Yield 3.0% 3.3% 3.8% 4.9% 2.5% 5.5% 12.3% 16.6% 9.2% 7.9% 1.7% 9.4% 9.4% 9.4% -5.04% <-IRR #YR-> 5 Earnings per Share -22.77%
5 year Running Average $0.97 $0.91 $0.86 $0.78 $0.70 $0.81 $1.29 $2.04 $2.36 $2.69 $2.52 $2.37 $1.96 $2.01 10.04% <-IRR #YR-> 10 5 yr Running Average 160.31%
10 year Running Average $0.89 $0.91 $0.93 $0.91 $0.86 $0.89 $1.10 $1.45 $1.57 $1.69 $1.67 $1.83 $2.00 $2.19 12.92% <-IRR #YR-> 5 5 yr Running Average 83.57%
* EPS per share E/P 10 Yrs 6.75% 5Yrs 9.25%
-$0.83 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.51
-$3.25 $0.00 $0.00 $0.00 $0.00 $2.51
-$0.91 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.37
-$1.29 $0.00 $0.00 $0.00 $0.00 $2.37
Estimates $1.41 $1.41 $1.41 Estimates
Special Dividend $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 0.00% <-Median-> 10 Special Dividend
Distributions* $1.27 $1.30 $1.33 $1.36 $1.38 $1.38 $1.38 $1.38 $1.41 $1.41 $1.41 $1.41 $1.41 $1.41 $1.41 8.67% <-Total Growth 10 Distributions*
Increase 3.62% 1.96% 2.31% 2.45% 1.47% 0.00% 0.00% 0.00% 1.99% 0.18% 0.00% 0.00% 0.00% 0.00% 0.00% 0.09% <-Median-> 10 Increase
5 year running Average $1.16 $1.21 $1.25 $1.30 $1.33 $1.35 $1.37 $1.38 $1.39 $1.39 $1.40 $1.40 $1.41 $1.41 $1.41 137.08% <-Median-> 10 5 year running Average
Yield H/L Price 6.35% 5.52% 5.56% 7.81% 8.83% 6.73% 5.61% 5.02% 5.31% 5.37% 5.24% 5.35% 5.35% 5.46% <-Median-> 10 Yield H/L Price
Yield on High Price 5.58% 4.85% 4.86% 6.17% 6.95% 5.92% 5.13% 4.73% 4.77% 5.03% 4.69% 4.70% 5.22% 4.94% <-Median-> 10 Yield on High Price
Yield on Low Price 7.36% 6.40% 6.50% 10.67% 12.12% 7.78% 6.18% 5.36% 5.98% 5.75% 5.94% 6.20% 5.48% 6.19% <-Median-> 10 Yield on Low Price
Yield on Close Price 5.58% 5.16% 6.08% 9.96% 6.95% 6.27% 5.22% 5.01% 5.68% 5.33% 5.95% 5.29% 5.28% 5.28% 5.28% 5.82% <-Median-> 10 Yield on Close Price
Payout Ratio EPS 187.13% 156.33% 158.74% 202.99% 281.63% 113.11% 42.46% 30.20% 61.46% 67.14% 352.50% 56.18% 56.18% 56.18% #DIV/0! 90.13% <-Median-> 10 DPR EPS
DPR EPS 5 Yr Running 120.26% 132.52% 146.18% 166.88% 189.30% 166.70% 105.59% 67.45% 58.61% 51.81% 55.41% 59.12% 71.84% 70.29% #DIV/0! 86.52% <-Median-> 10 DPR EPS 5 Yr Running
Payout Ratio CFPS 95.44% 90.32% 105.44% 91.11% 122.51% 97.43% 108.20% 93.27% 104.90% 88.40% 74.63% 101.12% 101.12% #VALUE! #DIV/0! 99.28% <-Median-> 10 DPR CF
DPR CF 5 Yr Running 96.91% 93.13% 97.04% 94.84% 99.84% 100.21% 103.92% 101.32% 104.34% 97.88% 92.17% 91.14% 92.55% #VALUE! #DIV/0! 98.86% <-Median-> 10 DPR CF 5 Yr Running
Payout Ratio CFPS WC 96.69% 88.39% 103.77% 86.77% 126.68% 102.15% 111.97% 91.22% 92.64% 88.23% 75.06% 126.35% 100.90% #VALUE! #DIV/0! 97.39% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 95.22% 93.10% 94.49% 92.26% 98.77% 99.85% 104.73% 101.88% 103.32% 96.45% 90.26% 92.04% 93.85% #VALUE! #DIV/0! 97.61% <-Median-> 10 DPR CF WC 5 Yr Running
Median Values 5 Yr Med 5 Yr Cl 5.31% 5.33% 5 Yr Med Payout 61.46% 93.27% 91.22% 0.83% <-IRR #YR-> 10 Dividends
* Distributons per share 5 Yr Med and Cur. -0.39% -0.94% Last Div Inc ---> $0.1175 $0.1175 0.0% 0.43% <-IRR #YR-> 5 Dividends
-$1.30 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.41
Historical Dividends Historical High Div 13.02% Low Div 4.71% Ave Div 8.87% Med Div 7.48% Close Div 6.95% Historical Dividends
High/Ave/Median Values Curr diff Exp. -59.41% Exp 12.21% Exp. -40.39% Exp. -29.35% Exp. -23.98% High/Ave/Median
Future Dividend Yield Div Yd 5.83% earning in 5 Years at IRR of 2.00% Div Inc. 10.41% Future Dividend Yield
Future Dividend Yield Div Yd 6.44% earning in 10 Years at IRR of 2.0% Div Inc. 21.90% Future Dividend Yield
Future Dividend Yield Div Yd 7.11% earning in 15 Years at IRR of 2.0% Div Inc. 34.59% Future Dividend Yield
I am earning GC Div Gr 67.86% 1/8/98 # yrs -> 19 1998 $10.95 Cap Gain 143.65% I am earning GC
I am earning Div org yield 7.67% 12/31/14 RRSP Div G Yrly 3.10% Div start $0.84 -7.67% 12.88% I am earning Div
I am earning GC Div Gr 9.30% 6/14/06 # yrs -> 11 2006 $21.43 Cap Gain 24.50% I am earning GC
I am earning Div org yield 6.02% 12/31/14 Pension Div G Yrly 1.05% Div start $1.29 -6.02% 6.58% I am earning Div
I am earning GC Div Gr 32.39% 4/6/00 # yrs -> 17 2000 $8.35 Cap Gain 219.52% I am earning GC
I am earning Div org yield 12.75% 12/31/14 Trading Div G Yrly 1.92% Div start $1.07 -12.75% 16.89% I am earning Div
Yield if held 5 yrs 14.75% 12.13% 10.79% 9.80% 8.39% 6.89% 5.87% 5.78% 8.09% 9.03% 6.87% 5.73% 5.13% 5.31% 5.37% 7.49% <-Median-> 10 Paid Median Price
Yield if held 10 yrs 24.47% 17.30% 13.62% 14.32% 15.00% 16.00% 12.90% 11.22% 10.14% 8.57% 7.04% 6.00% 5.90% 8.10% 9.03% 12.06% <-Median-> 10 Paid Median Price
Yield if held 15 yrs 24.00% 26.54% 18.40% 14.15% 14.82% 15.33% 16.35% 13.18% 11.46% 10.16% 8.57% 15.84% <-Median-> 8 Paid Median Price
Yield if held 20 yrs 24.52% 27.12% 18.80% 14.46% 14.84% 15.33% 24.52% <-Median-> 3 Paid Median Price
Yield if held 25 yrs 24.52% #NUM! <-Median-> 0 Paid Median Price
Cost covered if held 5 years 67.48% 56.48% 50.94% 46.73% 40.35% 33.66% 29.04% 28.81% 39.80% 44.54% 34.06% 28.51% 25.65% 26.57% 26.83% 36.93% <-Median-> 10 Paid Median Price
Cost covered if held 10 years 198.21% 146.06% 118.02% 125.44% 133.23% 145.69% 120.29% 106.87% 96.64% 82.64% 68.53% 58.89% 58.32% 80.31% 89.68% 112.45% <-Median-> 10 Paid Median Price
Cost covered if held 15 years 282.55% 327.92% 237.09% 188.58% 198.36% 208.85% 226.70% 185.87% 164.17% 147.43% 125.50% 217.78% <-Median-> 8 Paid Median Price
Cost covered if held 20 years 403.55% 462.29% 330.66% 260.86% 272.57% 285.48% 403.55% <-Median-> 3 Paid Median Price
Cost covered if held 25 years 526.16% #NUM! <-Median-> 0 Paid Median Price
Graham Price AFFO $15.51 $15.37 $15.25 $13.71 $15.56 $23.02 $26.19 $27.68 $28.59 $28.97 $28.89 $28.32 $28.60 $0.00 89.47% <-Total Growth 10 Graham Price
Price/GP Ratio Med 1.52 1.55 1.14 1.14 1.32 1.07 1.05 0.96 0.92 0.93 0.91 1.06 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.73 1.78 1.45 1.45 1.50 1.17 1.11 1.07 0.98 1.04 1.04 1.14 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 1.31 1.33 0.84 0.83 1.14 0.97 0.98 0.85 0.86 0.82 0.79 0.85 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.62 1.42 0.90 1.45 1.41 1.15 1.05 0.89 0.92 0.82 0.92 0.94 0.93 #DIV/0! 0.99 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 58.74% 39.22% -9.78% 42.69% 39.18% 14.05% 5.00% -10.24% -7.23% -16.35% -7.48% -5.49% -6.37% #DIV/0! -1.11% <-Median-> 10 Graham Price
Graham Price FFO $16.51 $16.42 $16.44 $16.20 $14.38 $16.43 $24.24 $27.39 $28.42 $29.89 $32.28 $30.17 $29.81 $30.17 $0.00 83.79% <-Total Growth 10 Graham Price
Price/GP Ratio Med 1.21 1.43 1.45 1.07 1.09 1.25 1.02 1.00 0.93 0.88 0.83 0.87 1.01 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.38 1.63 1.66 1.36 1.38 1.42 1.11 1.07 1.04 0.94 0.93 1.00 1.09 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 1.05 1.23 1.24 0.79 0.79 1.08 0.92 0.94 0.83 0.82 0.74 0.75 0.82 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.38 1.53 1.33 0.84 1.38 1.34 1.09 1.01 0.87 0.88 0.73 0.88 0.90 0.88 #DIV/0! 0.95 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 38.06% 53.21% 32.72% -15.70% 37.99% 33.86% 9.03% 0.63% -12.84% -11.57% -26.62% -11.73% -10.50% -11.57% #DIV/0! -5.47% <-Median-> 10 Graham Price
Graham Price EPS $11.44 $12.44 $12.24 $10.90 $9.19 $15.07 $36.55 $47.49 $34.43 $33.72 $14.62 $36.88 $36.88 $36.88 $0.00 196.48% <-Total Growth 10 Graham Price
Price/GP Ratio Med 1.75 1.89 1.95 1.60 1.70 1.36 0.67 0.58 0.77 0.78 1.84 0.72 1.07 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.99 2.15 2.23 2.02 2.16 1.55 0.74 0.61 0.86 0.83 2.06 0.81 1.20 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 1.51 1.63 1.67 1.17 1.24 1.18 0.61 0.54 0.68 0.73 1.62 0.62 0.95 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.99 2.02 1.78 1.25 2.16 1.46 0.72 0.58 0.72 0.78 1.62 0.72 0.72 0.72 #DIV/0! 1.02 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 99.29% 102.19% 78.34% 25.29% 115.95% 45.94% -27.68% -41.97% -28.06% -21.61% 62.02% -27.79% -27.65% -27.65% #DIV/0! 1.84% <-Median-> 10 Graham Price
Price Close $22.79 $25.15 $21.82 $13.66 $19.85 $22.00 $26.43 $27.56 $24.77 $26.43 $23.69 $26.63 $26.68 $26.68 $26.68 5.88% <-Total Growth 10 Stock Price
Increase 27.25% 10.36% -13.24% -37.40% 45.31% 10.83% 20.14% 4.28% -10.12% 6.70% -10.37% 12.41% 0.19% 0.00% 0.00% 0.57% <-IRR #YR-> 10 Stock Price
P/E 33.51 30.30 26.09 20.39 40.51 18.03 8.13 6.03 10.82 12.59 59.23 10.61 10.63 10.63 #DIV/0! 0.15% <-IRR #YR-> 5 Stock Price
Trailing P/E 26.20 36.99 26.29 16.33 29.63 44.90 21.66 8.48 5.42 11.54 11.28 66.58 10.63 10.63 10.63 5.94% <-IRR #YR-> 10 Price & Dividend
Median 10, 5 Yrs D. per yr 5.36% 5.29% % Tot Ret 90.34% 97.23% Price Inc 4.28% P/E: 15.31 10.82 5.44% <-IRR #YR-> 5 Price & Dividend
-$25.15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $26.63
-$26.43 $0.00 $0.00 $0.00 $0.00 $26.63
-$25.15 $1.33 $1.36 $1.38 $1.38 $1.38 $1.38 $1.41 $1.41 $1.41 $28.04
-$26.43 $1.38 $1.41 $1.41 $1.41 $28.04
Price Median H/L $20.04 $23.51 $23.88 $17.41 $15.62 $20.52 $24.62 $27.48 $26.53 $26.28 $26.92 $26.38 $26.36 12.19% <-Total Growth 10 Stock Price
Increase 21.82% 17.32% 1.57% -27.11% -10.26% 31.34% 19.99% 11.62% -3.44% -0.94% 2.42% -2.01% -0.08% 1.16% <-IRR #YR-> 10 Stock Price
P/E 29.47 28.33 28.55 25.98 31.88 16.82 7.57 6.01 11.59 12.51 67.29 10.51 10.50 1.39% <-IRR #YR-> 5 Stock Price
Trailing P/E 23.03 34.57 28.77 20.81 23.31 41.87 20.18 8.45 5.81 11.48 12.82 65.94 10.50 6.76% <-IRR #YR-> 10 Price & Dividend
P/E on Running 5 yr Average 20.70 25.78 27.86 22.39 22.27 25.35 19.03 13.47 11.22 9.78 10.67 11.11 13.43 6.94% <-IRR #YR-> 5 Price & Dividend
P/E on Running 10 yr Average 22.51 25.70 25.75 19.13 18.17 23.09 22.32 18.97 16.89 15.52 16.16 14.38 13.17 12.82 P/E Ratio Historical Median
Median 10, 5 Yrs D. per yr 5.61% 5.55% % Tot Ret 82.90% 79.97% Price Inc -0.94% P/E: 14.66 11.59 Count 23 Years of data
-$23.51 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $26.38
-$24.62 $0.00 $0.00 $0.00 $0.00 $26.38
-$23.51 $1.33 $1.36 $1.38 $1.38 $1.38 $1.38 $1.41 $1.41 $1.41 $27.79
-$24.62 $1.38 $1.41 $1.41 $1.41 $27.79
High Months Oct/Dec Dec Jan-Apr Jun Mar Nov Jul Jul Apr May Apr Jul Feb
Price High $22.79 $26.75 $27.34 $22.06 $19.85 $23.30 $26.90 $29.20 $29.51 $28.05 $30.09 $30.02 $27.00 12.22% <-Total Growth 10 Stock Price
Increase 23.52% 17.38% 2.21% -19.31% -10.02% 17.38% 15.45% 8.55% 1.06% -4.95% 7.27% -0.23% -10.06% 1.16% <-IRR #YR-> 10 Stock Price
P/E 33.51 32.23 32.69 32.93 40.51 19.10 8.28 6.39 12.89 13.36 75.23 11.96 10.76 2.22% <-IRR #YR-> 5 Stock Price
Trailing P/E 26.20 39.34 32.94 26.38 29.63 47.55 22.05 8.98 6.46 12.25 14.33 75.05 10.76 14.31 P/E Ratio Historical Median
Median 10, 5 Yrs Price Inc 1.06% P/E: 16.23 12.89 33.04 P/E Ratio Historical High
-$26.75 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $30.02
-$26.90 $0.00 $0.00 $0.00 $0.00 $30.02
Low Months Mar Jun Oct-Dec Nov Nov Feb Jan Feb/Jun Aug Jan Feb Jan Jan
Price Low $17.29 $20.27 $20.42 $12.75 $11.39 $17.73 $22.33 $25.75 $23.55 $24.51 $23.74 $22.73 $25.71 12.14% <-Total Growth 10 Stock Price
Increase 19.65% 17.24% 0.74% -37.56% -10.67% 55.66% 25.94% 15.32% -8.54% 4.08% -3.14% -4.25% 13.11% 1.15% <-IRR #YR-> 10 Stock Price
P/E 25.43 24.42 24.42 19.03 23.24 14.53 6.87 5.63 10.28 11.67 59.35 9.06 10.24 0.36% <-IRR #YR-> 5 Stock Price
Trailing P/E 19.87 29.81 24.60 15.25 17.00 36.18 18.30 7.92 5.15 10.70 11.30 56.83 10.24 11.64 P/E Ratio Historical Median
Median 10, 5 Yrs Price Inc -3.14% P/E: 13.10 10.28 8.34 P/E Ratio Historical Low
-$20.27 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $22.73
-$22.33 $0.00 $0.00 $0.00 $0.00 $22.73
EBITDA $493.26 $469.7 $576.0 $627.5 $709.1 $743.6 $759.1 $814.1 $763.3 $717.1 $733.9 2.65% <-Total Growth 9 EBITDA from WebBroker
Increase -4.78% 22.64% 8.94% 13.01% 4.87% 2.08% 7.25% -6.24% -6.05% 2.34% Increase
Distributions $295.26 $315.9 $339.0 $371.0 $419 $450 $447 $466 $466 3.54% <-Total Growth 9 Distributions
Distri. % of EBITDA 59.86% 67.27% 58.86% 59.13% 59.09% 60.52% 58.89% 57.23% 61.04% 0.59 <-Median-> 9 % of EBITDA
Long Term Debt $6,164.74 $5,653.59 Debt
Change -8.29% Change
Debt/Market Cap Ratio 0.81 0.65 0.73 <-Median-> 2 Debt/Market Cap Ratio
Debt Lg, Short $2,780.6 $3,235.3 $3,260.3 $4,418.0 $3,663.0 $4,410.0 $5,034.0 $5,738.0 $5,959.0 $6,444.0 $6,164.7 $5,653.59
CF/Debt Ratio 9.40% 8.86% 8.14% 7.50% 7.45% 8.34% 7.07% 7.74% 6.85% 7.82% 9.88% 8.06% 7.78% <-Median-> 10 CF/Debt Ratio
Goodwill & Intangibles $0 $0 $0 $0 $0 Intangibles Goodwill Yes, 0
Change #DIV/0! #DIV/0! #DIV/0! #DIV/0! Change
Intangible/Market Cap Ratio 0.00 0.00 0.00 0.00 0.00 0.00 <-Median-> 5 Intangible/Market Cap Ratio
Market Cap $4,468 $5,021 $4,601 $3,033 $4,810 $5,716 $7,377 $8,271 $7,532 $8,352 $7,640 $8,698 $8,714 $8,714 $8,714 Market Cap
Diluted # of Shares in Million 267.017 291.298 303.260 308.672 319.983 325.665 21.96% <-Total Growth 5 Diluted
Change 9.09% 4.11% 1.78% 3.66% 1.78% 3.66% <-Median-> 5 Change
Average # of Sh in M 193.990 197.990 208.410 218.040 230.370 246.610 265.580 289.950 302.324 307.910 319.492 325.386 64.34% <-Total Growth 10 Average
Change 7.43% 2.06% 5.26% 4.62% 5.65% 7.05% 7.69% 9.18% 4.27% 1.85% 3.76% 1.84% 4.94% <-Median-> 10 Change
Difference 1.1% 0.8% 1.2% 1.8% 5.2% 5.4% 5.1% 3.5% 0.6% 2.6% 0.9% 0.4% 2.23% <-Median-> 10 Difference
# of Share in M 196.041 199.647 210.883 222.042 242.320 259.818 279.113 300.099 304.075 315.986 322.483 326.615 326.615 326.615 326.615 5.05% <-IRR #YR-> 10 Units
Change 6.77% 1.84% 5.63% 5.29% 9.13% 7.22% 7.43% 7.52% 1.32% 3.92% 2.06% 1.28% 0.00% 0.00% 0.00% 3.19% <-IRR #YR-> 5 Units
CF fr Op $Millon $261.39 $286.79 $265.50 $331.44 $272.97 $368.00 $356.00 $444.00 $408.00 $504.00 $609.26 $455.42 $455 <- 12 mths 58.80% <-Total Growth 10 Cash Flow
Increase 8.13% 9.72% -7.43% 24.84% -17.64% 34.81% -3.26% 24.72% -8.11% 23.53% 20.88% -25.25% 0.00% <- 12 mths S Iss. DRIP, SO Buy Backs
5 year Running Average $209 $239 $251 $277 $284 $305 $319 $354 $370 $416 $464 $484 $486 <- 12 mths 102.99% <-Total Growth 10 CF 5 Yr Running
CFPS $1.33 $1.44 $1.26 $1.49 $1.13 $1.42 $1.28 $1.48 $1.34 $1.60 $1.89 $1.39 $1.39 <- 12 mths -2.93% <-Total Growth 10 Cash Flow per Share
Increase 1.27% 7.74% -12.36% 18.56% -24.53% 25.73% -9.95% 16.00% -9.31% 18.87% 18.45% -26.19% 0.00% <- 12 mths 4.73% <-IRR #YR-> 10 Cash Flow
5 year Running Average $1.20 $1.30 $1.29 $1.37 $1.33 $1.35 $1.31 $1.36 $1.33 $1.42 $1.52 $1.54 $1.52 <- 12 mths 5.05% <-IRR #YR-> 5 Cash Flow
P/CF on Med Price 15.03 16.37 18.97 11.66 13.87 14.48 19.30 18.57 19.77 16.48 14.25 18.92 18.90 -0.30% <-IRR #YR-> 10 Cash Flow per Share
P/CF on Closing Price 17.09 17.51 17.33 9.15 17.62 15.53 20.72 18.63 18.46 16.57 12.54 19.10 19.13 1.80% <-IRR #YR-> 5 Cash Flow per Share
9.19% Diff M/C 1.73% <-IRR #YR-> 10 CFPS 5 yr Running
Excl.Working Capital CF -$3.39 $6.28 $4.28 $16.59 -$9.00 -$17.00 -$12.00 $10.00 $54.00 $1.00 -$3.51 -$90.95 $1 <- 12 mths 3.22% <-IRR #YR-> 5 CFPS 5 yr Running
CF fr Op $M WC $258.0 $293.1 $269.8 $348.0 $264.0 $351.0 $344.0 $454.0 $462.0 $505.0 $605.7 $364.5 $456.4 <- 12 mths 24.36% <-Total Growth 10 Cash Flow less WC
Increase 0.43% 13.60% -7.95% 29.01% -24.15% 32.97% -1.99% 31.98% 1.76% 9.31% 19.95% -39.83% 25.23% <- 12 mths 2.20% <-IRR #YR-> 10 Cash Flow less WC
5 year Running Average $213 $239 $257 $285 $287 $305 $315 $352 $375 $423 $474 $478 $479 <- 12 mths 1.16% <-IRR #YR-> 5 Cash Flow less WC
CFPS Excl. WC $1.32 $1.47 $1.28 $1.57 $1.09 $1.35 $1.23 $1.51 $1.52 $1.60 $1.88 $1.12 $1.40 <- 12 mths 7.17% <-IRR #YR-> 10 CF less WC 5 Yr Run
Increase -5.94% 11.55% -12.85% 22.52% -30.50% 24.02% -8.77% 22.75% 0.43% 5.19% 17.53% -40.59% 25.23% <- 12 mths 8.69% <-IRR #YR-> 5 CF less WC 5 Yr Run
5 year Running Average $1.22 $1.30 $1.33 $1.41 $1.34 $1.35 $1.30 $1.35 $1.34 $1.44 $1.55 $1.52 $1.50 <- 12 mths -2.70% <-IRR #YR-> 10 CFPS - Less WC
P/CF on Med Price 15.23 16.02 18.67 11.10 14.34 15.19 19.97 18.16 17.46 16.44 14.33 23.64 18.86 -1.97% <-IRR #YR-> 5 CFPS - Less WC
P/CF on Closing Price 17.32 17.13 17.06 8.72 18.22 16.28 21.44 18.22 16.30 16.54 12.61 23.86 19.09 1.62% <-IRR #YR-> 10 CFPS 5 yr Running
*Operational Cash Flow per share and Price/OCF per share (P/O) using closing price CF/-WC P/CF Med 10 yr 17.52 5 yr 18.57 P/CF Med 10 yr 16.95 5 yr 17.46 12.62% Diff M/C 3.18% <-IRR #YR-> 5 CFPS 5 yr Running
WC is Net change in non-cash operating items
OPM 42.92% 44.37% 36.88% 43.39% 36.01% 41.49% 37.59% 40.70% 36.40% 41.86% 56.01% 40.18% -9.43% <-Total Growth 10 OPM
Increase 3.27% 3.38% -16.87% 17.65% -17.01% 15.21% -9.39% 8.26% -10.57% 15.01% 33.80% -28.26% Should increase or be stable.
Diff from Ave. 6.1% 9.7% -8.8% 7.3% -11.0% 2.6% -7.0% 0.6% -10.0% 3.5% 38.5% -0.6% 0.00 <-Median-> 10 OPM 9 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 40.44% 5 Yrs 40.70% should be zero, it is a check on calculations
Current Assets 235.0 396.2 302.6 489.0 415.0 358.0 400.0 184.0 329.0 $534.7 $462.9 Liq ratio of 1.5 and up, best Fr. G&M
Current Liabilities 114.8 133.7 131.9 193.0 252.0 229.0 409.0 232.0 365.0 425.8 510.3 1.41 <-Median-> 10 Ratio
Liquidity 2.05 2.96 2.29 2.53 1.65 1.56 0.98 0.79 0.90 1.26 0.91 0.91 <-Median-> 5 Ratio
Liq. with CF aft div 2.29 2.86 2.52 2.22 1.68 1.44 1.05 0.71 1.06 1.62 0.90 1.05 <-Median-> 5 Ratio
Liq. CF re Inv+Div 0.54 0.63 0.71 0.61 0.35 0.26 0.32 0.32 0.44 0.56 0.90 0.44 <-Median-> 5 Ratio
Assets $4,273 $4,608 $5,250 $5,337 $5,862 $6,859 $10,767 $12,943 $13,530 $14,677 $15,996 $14,174 Debt Ratio of 1.5 and up, best
Liabilities $2,597 $2,954 $3,572 $3,586 $3,996 $4,662 $5,325 $6,063 $6,258 $6,809 $8,070 $6,164 2.00 <-Median-> 10 Ratio
Debt Ratio 1.65 1.56 1.47 1.49 1.47 1.47 2.02 2.13 2.16 2.16 1.98 2.30 2.16 <-Median-> 5 Ratio
Total Book Value $1,675.6 $1,654.0 $1,677.7 $1,750.9 $1,866.1 $2,197.0 $5,442.0 $6,880.0 $7,272.0 $7,868.0 $7,926.8 $8,009.9 384.26% <-Total Growth 10 Total Book Value
Preferred $265.0 $265.0 $265.0 $265.5 $265.5 $144.8 Preferred
Non-Control. Int $9.0 $46.0 $79.0 $33.0 $11.0 $0.0 $0.8 $0.0 Non-Control. Int
Book Value $1,675.6 $1,654.0 $1,677.7 $1,750.9 $1,857.1 $2,151.0 $5,098.0 $6,582.0 $6,996.0 $7,602.5 $7,660.6 $7,865.1 $7,865 $7,865 375.51% <-Total Growth 10 Book Value
Book Value per share $8.55 $8.28 $7.96 $7.89 $7.66 $8.28 $18.27 $21.93 $23.01 $24.06 $23.76 $24.08 $24.08 $24.08 190.66% <-Total Growth 10 Book Value
Increase -1.00% -3.07% -3.97% -0.88% -2.81% 8.03% 120.62% 20.08% 4.90% 4.57% -1.27% 1.37% 0.00% 0.00% -16.11% P/B Ratio Current/Historical Median
P/B Ratio (Median) 2.34 2.84 3.00 2.21 2.04 2.48 1.35 1.25 1.15 1.09 1.13 1.10 1.32 P/B Ratio Historical Median
P/B Ratio (Close) 2.67 3.04 2.74 1.73 2.59 2.66 1.45 1.26 1.08 1.10 1.00 1.11 1.11 1.11 11.26% <-IRR #YR-> 10 Book Value
Change 28.54% 13.85% -9.65% -36.84% 49.52% 2.60% -45.55% -13.16% -14.32% 2.03% -9.22% 10.89% 5.68% <-IRR #YR-> 5 Book Value
Leverage (A/BK) 2.55 2.79 3.13 3.05 3.14 3.12 1.98 1.88 1.86 1.87 2.02 1.77 2.00 <-Median-> 10 A/BV
Debt/Equity Ratio 1.55 1.79 2.13 2.05 2.14 2.12 0.98 0.88 0.86 0.87 1.02 0.77 1.00 <-Median-> 10 Debt/Eq Ratio
Book Value is Asset less Liabilities P/BV 10 Yrs 1.67 5 Yrs 1.11 -33.67% Diff M/C 2.14 Historical Leverage (A/BK)
Comprehensive Income $117 $287 $864.0 $1,371.0 $756.0 $760.0 $352.6 $574.0
NCI $0 $1 $12.0 $14.0 $4.0 $1.0 $0.7 $0.1
Shareholders $163.8 $32.4 $146.9 $117.1 $286.0 $852.0 $1,357.0 $752.0 $759.0 $351.9 $573.9 250.36% <-Total Growth 10 Comprehensive Income
Increase -80.25% 354.05% -20.30% 144.26% 197.90% 59.27% -44.58% 0.93% -53.63% 63.07% 0.93% <-Median-> 5 Comprehensive Income
5 Yr Running Average $149.2 $286.9 $551.8 $672.8 $801.2 $814.4 $758.8 13.36% <-IRR #YR-> 10 Comprehensive Income 250.36%
ROE 9.9% 1.9% 8.4% 6.3% 13.3% 16.7% 20.6% 10.7% 10.0% 4.6% 7.3% -7.60% <-IRR #YR-> 5 Comprehensive Income -32.64%
5Yr Median 8.4% 8.4% 13.3% 13.3% 13.3% 10.7% 10.0% 31.13% <-IRR #YR-> 6 5 Yr Running Average #DIV/0!
% Difference from NI 0.0% -81.7% 0.0% 3.3% -3.6% 4.2% 5.5% 10.2% 18.5% 156.9% -29.6% 21.47% <-IRR #YR-> 5 5 Yr Running Average 164.50%
Median Values Diff 5, 10 yr 3.8% 10.2% 10.0% <-Median-> 5 Return on Equity
Current Liability Coverage Ratio 2.55 2.02 2.64 1.37 1.39 1.50 1.11 1.99 1.38 1.42 0.71 CFO / Current Liabilities
5 year Median 2.02 1.50 1.39 1.39 1.39 1.42 1.38 140.8% <-Median-> 10 Current Liability Cov Ratio
Asset Efficiency Ratio 6.04% 6.36% 5.14% 6.52% 4.50% 5.12% 3.19% 3.51% 3.41% 3.44% 3.79% 2.57% CFO / Total Assets
5 year Median 5.90% 6.04% 6.04% 6.36% 6.04% 5.14% 5.12% 4.50% 3.51% 3.44% 3.44% 3.44% 3.6% <-Median-> 10 Return on Assets
Return on Assets ROA 3.1% 3.6% 3.4% 2.8% 1.9% 4.4% 8.1% 10.4% 5.2% 4.5% 0.9% 5.9% Net Income/Assets Return on Assets
5Yr Median 4.8% 4.0% 3.6% 3.4% 3.1% 3.4% 3.4% 4.4% 5.2% 5.2% 5.2% 5.2% 4.5% <-Median-> 10 Asset Efficiency Ratio
Return on Equity ROE 7.9% 9.9% 10.5% 8.4% 6.1% 13.8% 16.0% 19.5% 9.7% 8.4% 1.8% 10.4% Net Inc/ Shareholders' equity Return on Equity
5Yr Median 11.5% 10.0% 10.0% 9.9% 8.4% 9.9% 10.5% 13.8% 13.8% 13.8% 9.7% 9.7% 10.1% <-Median-> 10 Return on Equity
Net Income $114 $304.0 $884.0 $1,359.0 $713.0 $664.0 $142.4 $830.8 Net Income
NCI $0 $1.0 $11.0 $15.0 $4.0 $1.0 $0.7 $0.1 NCI
Shareholders $132.57 $163.81 $176.36 $146.92 $113.87 $303.0 $873.0 $1,344.0 $709.0 $663.0 $141.8 $830.7 407.13% <-Total Growth 10 Net Income
Increase -16.26% 23.56% 7.66% -16.69% -22.50% 166.10% 188.12% 53.95% -47.25% -6.49% -78.62% 486.01% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $161.0 $161.9 $162.7 $155.6 $146.7 $180.8 $322.6 $556.2 $668.6 $778.4 $746.2 $737.7 17.63% <-IRR #YR-> 10 Net Income
Operating Cash Flow $261.39 $286.79 $265.50 $331.44 $272.97 $368 $356 $444 $408 $504 $609 $455 -0.99% <-IRR #YR-> 5 Net Income
Investment Cash Flow -$446.66 -$375.95 -$470.83 -$334.91 -$504.06 -$953 -$1,018 -$935 -$278 -$522 -$802 $1,194 16.38% <-IRR #YR-> 10 5 Yr Running Ave.
Total Accruals $317.85 $252.97 $381.69 $150.39 $344.96 $888 $1,535 $1,835 $579 $681 $335 -$818 17.99% <-IRR #YR-> 5 5 Yr Running Ave.
Total Assets $4,273 $4,608 $5,250 $5,337 $5,862 $6,859 $10,767 $12,943 $13,530 $14,677 $15,996 $14,174 Balance Sheet Assets
Accruals Ratio 7.44% 5.49% 7.27% 2.82% 5.89% 12.95% 14.26% 14.18% 4.28% 4.64% 2.09% -5.77% 4.28% <-Median-> 5 Ratio
EPS/CF Ratio 0.52 0.57 0.65 0.43 0.45 0.90 2.64 3.02 1.51 1.31 0.21 2.25 1.11 <-Median-> 10 EPS/CF Ratio
Change in Close 27.25% 10.36% -13.24% -37.40% 45.31% 10.83% 20.14% 4.28% -10.12% 6.70% -10.37% 12.41% 0.19% 0.00% 0.00% Count 22 Years of data
up/down Down Down Down Down Down Down Down Down Up Count 16 72.73%
Meet Prediction? Yes Yes Yes % right Count 5 31.25%
Financial Cash Flow $186.73 $113.42 $282.76 -$109.69 $366.55 $530 $647 $597 -$266 $35 $220.2 -$1,678.0 C F Statement Financial CF
Total Accruals $131.12 $139.55 $98.92 $260.08 -$21.60 $358 $888 $1,238 $845 $646 $115 $860 Accruals
Accruals Ratio 3.07% 3.03% 1.88% 4.87% -0.37% 5.22% 8.25% 9.57% 6.25% 4.40% 0.72% 6.07% 6.07% <-Median-> 5 Ratio
Cash $77.00 $183 $39 $56 $83.3 $54.4 Cash
Cash per Share $0.28 $0.61 $0.13 $0.18 $0.26 $0.17 Cash per Share
Percentage of Stock Price 1.04% 2.21% 0.52% 0.67% 1.09% 0.63%
Taxes
Div 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2016 tax 0.00% <-Median-> 9 Dividend
Cap Gain 12.75% 0.96% 0.44% 1.79% 0.59% 17.89% 1.72% 1.89% 30.17% 1.55% 18.87% info not yet 1.79% <-Median-> 9 Cap Gain
Other Income 50.32% 48.73% 52.09% 46.97% 36.04% 37.53% 31.24% 38.29% 61.77% 40.23% 64.38% avaiable. 40.23% <-Median-> 9 Other Income
Foreign Bus 0.00% 0.00% 0.00% 0.00% 0.23% 2.76% 4.57% 6.60% 7.54% 6.27% 5.83% 4.57% <-Median-> 9 Foreign Bus
Foreign Bus Income Tax Paid -0.40% -0.40% <-Median-> 1 Foreign Bus Income Tax Paid
Ret of Cap. 36.93% 50.31% 47.47% 51.24% 63.14% 41.82% 62.47% 53.22% 0.52% 51.95% 11.32% 51.24% <-Median-> 9 Ret of Cap.
Total 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Notes:
February 28, 2017. Last estimates were for 216 and 2017 of $1271M for Revenue for 2016, $1.49 and $1.31 for AFFO, $1.65 and $1.67 for FFO and $1.82 for EPS for 2016 and $763.3 and $741.6 EBITDA.
March 5, 2016. Last estimates were for 2015 and 2016 of $1287M and $1271M for Revenue, $1.54 and $1.62 for AFFO, $1.72 and $1.80 for FFO, $1.73 and $1.82 for EPS and $815.3 and $557.7 for EBITDA
March 8, 2015. Last estimates were for 2014 and 2015 of $1201M and $1283M for Revenue, $1.48 and $1.54 for AFFO, $1.67 and $1.73 for FFO, $2.00 and $2.12 for EPS, $744M and $816M for EBITDA
March 1, 2014. Last estimates were for 2013 and 2014 of $1163M and 1217M for Revenue, $1.40 and $#1.49 for AFFO, $1.58 and $1.68 for FFO, $2.92 and $2.68 (plus $1.68 for 2015) for EPS and $1.63 for 2013 for CFPS.
March 5, 2012. Last estimates were for 2012 and 2013 of $1061M and $1125M for Revenue, $1.29 and $1.38 AFFO, $1.49 and $1.58 FFO, $3.55 and $2.59 (and $1.61 2014) for EPS and $1.55 and $1.63 CFPS.
Feb 19, 2012. New Accounting rules are greatly affecting Earnings. FFO goes from $1.33 to $1.43 if 2010 done as IFSR. EPS would have gone from $6.05 to $3.25, not from $1.22 to $3.25
I have added in AFFO as a number of analysts look at that now. Problem seems to be different people calculated AFFO differently.
Feb 19, 2012. Last Estimates were for 2011 and 2012 for FFO of $1.52 and $1.59, EPS of 1.31 and $1.43 and CF for $1.72 and $1.93.
Mar 19, 2011. Last I looked I got estimates for 2010, 2011and/or 2012 of $1.41, $1.54 and $1.62 for FFO, $0.56 and $.059 for Earnings and $1.36 and $1.62 for CF.
Unaudited statements used for 2009. In August 2009, I got earnings and FFO for 2009 at $.55 and $1.28. They came in at $.49 and $1.20. Few believe distribution will be affected by 2009 less than stellar
performance. I also got cash flow of $1.25 a share, but came in at $1.13. CEO says FFO in 2010 will be more than $1.38. There was a sell off, but it it warrented because of one bad year? I think not.
In April 2009, I got distributible Income of $1.48 and $1.44 for 2009 and 2010; everyone has since downgraded this and Earnings. In Apr I got earnings of $.75 & $.82 for these years.
23 April 2009 RioCan REIT (TSX-REI.UN) dropped from $20 last year to its current price of $13.98. But occupancy rates in its buildings remain high at almost 97 per cent, rents have gone up
and distributions were increased for the 15th straight year. Plus distribution rates will be maintained. From the Contra Guys.
Apr 2009 AR 2008. In July 2008 I picked up Distributable Income for 2008 at $1.47. It came in at $1.48.
AP 2007. Following the REIT market almost bang on. Diverging downward from the composite index.
AP 2006. I have done well by this stock. TD still rates it a buy. My worry is that shareholder value has gone down last 3 years. Accrual is never negative. Including Fin C. F. does not help.
AO 2005. Both I and TD agree on this stock. TD rates a Buy. I have done well by it.
AP 2004. Same as 2003.
May 2003. I think that the price is a little high at the present time to buy more.
AP 2003. This stock is doing what it should be. The return re Price & Dividend is good. 2002. Same 2003. This is a wholly retail forcused REIT.
Sector:
Real Estate
What should this stock accomplish?
You should get a good dividend (r to 5% range) and growth at or above the rate of inflation.
Would I buy this company and Why.
Dividends
Dividends are paid monthly. Dividends for shareholders of record are paid in the following month.
For example, dividends paid for shareholder of record on December 31, 2012 were paid on January 8, 2013.
Misson Statement or closes thing I can find.
What I am looking for is a statement that the company wants to do well by their customers, employees, and community and and thereby earn shareholders a reasonable return.
For customers
For employees
For community
For investors
Why am I following this stock.
I am following this stock because I own it.
Why I bought this stock.
I first bought this stock 1998 because I wanted to diversify my portfolio into REITs. It was a stock covered and recommended by MPL Communications in their Income Trust coverage.
Over the years I have made several more purchases of this REIT.
How they make their money
RioCan is Canada's largest real estate investment trust exclusively focused on retail real estate. Their core strategy is to own and manage community-oriented neighbourhood shopping centers anchored by supermarkets,
together with a rapidly expanding mix of new format retail centers. RioCan owns interests in 51 centers in the United States located in the Northeastern United States and Texas, managed through its offices in New Jersey and Dallas.
You do not expect much increase in Book Value when most of earnings go to dividends. EPS do not count as much in REITs as Distributable Income. Div increases above inflation is good for REITs.
Ratings are SR-2 (S&P)and STA-2L (DBRS) - both are high ratings
M$ CDN
Cash flows
Operations
Investing
Financing
Cash
How new Ontario Rules of 2006 and coming into effect in 2011 affect REITs.
Real estate income trusts will not be subject to the new rules on real estate income derived in Canada (the non-Canadian real estate operations of existing REITs will be subject to the same
taxation as business trusts). REITS and Investment Trusts (Mutual Funds) and not affected by new rules. After 2011 all other types of trusts (i.e. Business Trusts and Energy Trusts) will be taxed as corporations.
For most ratios, lower is better when looking for a good stock price. However, there are exceptions such as for yield and asset/liability ratios and here you want a higher ratios to indicate a good stock price.
Also, for the Operational Profit Margin, a higher percentage is better. With the OPM, you should only compare companies in similar industries.
Shares; '%, Value $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M
Date Mar 5 2012 Mar 11 2013 Mar 1 2014 Mar 8 2015 Mar 5 2016 Feb 27 2017
Sonshine, Edward 0.350 0.12% 0.400 0.13% 0.400 0.12% 0.420 0.13% 0.420 0.13%
CEO - Shares - Amount $8.670 $10.572 $9.476 $11.185 $11.21
Options - percentage 3.182 1.05% 3.344 1.06% 3.167 0.98% 2.667 0.82% 3.193 0.98%
Options - amount $78.812 $88.370 $75.027 $71.030 $85.18
Reuters Options Value 1.875 $4.100
Devine, Cynthia 0.011 0.00% 0.022 0.01% Quite as CFO effective at the
CFO - Shares - Amount $0.302 $0.59 end of March 2017.
Options - percentage 0.283 0.09% 0.284 0.09%
Options - amount $7.543 $7.59
Davloor, Raghunath 0.066 0.02% 0.070 0.02% 0.079 0.02% 0.093 0.03% 0.099 0.03% was CFO until 2016
COO - Shares - Amount $1.635 $1.846 $1.875 $2.484 $2.63
Options - percentage 0.450 0.15% 0.575 0.18% 0.758 0.24% 1.071 0.33% 1.023 0.31%
Options - amount $11.147 $15.197 $17.965 $28.515 $27.29
Ballantyne, John 0.032 0.01% 0.032 0.01% 0.032 0.01% 0.045 0.01% 0.045 0.01%
Officer - Shares - Amount $0.790 $0.843 $0.756 $1.198 $1.20
Options - percentage 0.404 0.13% 0.489 0.15% 0.588 0.18% 0.594 0.18% 0.595 0.18%
Options - amount $10.001 $12.918 $13.939 $15.828 $15.88
Brooks, Bonnie 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00%
Director - Shares - Amount $0.000 $0.000 $0.000 $0.00
Options - percentage 0.004 0.00% 0.010 0.00% 0.017 0.01% 0.020 0.01%
Options - amount $0.109 $0.238 $0.456 $0.52
Copeland, Clare Robert 0.006 0.00% 0.006 0.00% 0.009 0.00% 0.011 0.00%
Director - Shares - Amount $0.159 $0.152 $0.238 $0.30
Options - percentage 0.013 0.00% 0.015 0.00% 0.017 0.01% 0.020 0.01%
Options - amount $0.323 $0.346 $0.463 $0.53
Godfrey, Paul Victor 0.169 0.05% 0.169 0.05% 0.173 0.05% 0.173 0.05%
Chairman - Shares - Amt $4.465 $4.002 $4.596 $4.60
Options - percentage 0.039 0.01% 0.035 0.01% 0.031 0.01% 0.026 0.01%
Options - amount $1.033 $0.818 $0.818 $0.70
Increase in O/S Shares 1.319 0.43% 0.476 0.16% 2.331 0.74% 1.019 0.32% 1.671 0.51% 95.65%
due to SO $36.352 $11.791 $61.608 $24.140 $44.499
Book Value $24.000 $8.000 $49.000 $23.701 $39.882
Insider Buying -$0.803 -$1.712 -$1.144
Insider Selling $50.101 $23.491 $19.543
Net Insider Selling $49.298 $21.779 $18.399
% of Market Cap 0.65% 0.25% 0.21%
Directors 8 9 9 10 9
Women 2 25% 3 33% 3 33% 4 40% 4 44%
Minorities 0 0% 0 0% 0 0% 0 0% 0 0%
Institutions/Holdings 167 34.12% 182 31.80% 209 39.31% 206 35.27%
Total Shares Held 108.723 35.76% 103.280 32.68% 100.275 31.09% 126.533 38.74% 114.800 35.15%
Increase/Decrease 2.306 2.17% -0.303 -0.29% -0.251 -0.25% -1.657 -1.29% 0.667 0.58%
Starting No. of Shares 106.417 103.583 100.526 128.190 114.133
Copyright 2008 Website of SPBrunner. All rights reserved.
My Stock