Q: Hello,
I have a previous position in RioCan that has lost 6.5% value. I also have some spare cash from distributions to reinvest. I am tempted to add to the position in order to bring it to the allocation target and also average down cost. I see a lot of the REITs are suffering though, probably due to the recent interest rate hike. In addition RioCan has been mentioned in the news regarding Sears Canada stores shutdown. They defended very well though saying that Sears only attributed very little to their income.
Would you add to REI in this situation and do you see any fundamental concern going forward with RioCan?
P.S. I don't need the distribution income immediately and will reinvest it anyway.
Thank you
I have a previous position in RioCan that has lost 6.5% value. I also have some spare cash from distributions to reinvest. I am tempted to add to the position in order to bring it to the allocation target and also average down cost. I see a lot of the REITs are suffering though, probably due to the recent interest rate hike. In addition RioCan has been mentioned in the news regarding Sears Canada stores shutdown. They defended very well though saying that Sears only attributed very little to their income.
Would you add to REI in this situation and do you see any fundamental concern going forward with RioCan?
P.S. I don't need the distribution income immediately and will reinvest it anyway.
Thank you