Looks like things are starting to head towards normalcy for the company, but with second waves coming anything can change. Collections on the quarter were 91% compared to only 78.1% in Q2.
FFO was $0.41 in the quarter, and the company pays out a monthly distribution of $0.12. Through the first 9 months of 2020, the company stated it's FFO payout ratio was 86.2%. Which is quite a bit higher than the 77.4% at this same time during 2019, but all signs point to the dividend being able to be maintained at these levels. However, can't stress enough that the environment we're in can cause swift change.
The company has stated its distribution will not be cut. But, what they say and what they do when push comes to shove can be two different things.
I think the stock provides value at this point. However, it's important to understand that the landscape has changed significantly, resulting in more risk with a commercial REIT. Especially as we head into a potential 2nd lockdown.
If you're going to invest in RioCan, I'd highly suggest averaging in over the next few months.