Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

CI First Asset Canadian REIT ETF

TSX:RIT
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
RIT
TSX
CA$508M
Market Cap
  1. Home
  2. CA
  3. Diversified Financials
Company description

CI First Asset Canadian REIT ETF is an exchange traded fund launched and managed by First Asset Investment Management Inc. The last earnings update was 4 days ago. More info.


Add to Portfolio Compare Print
  • CI First Asset Canadian REIT ETF is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • CI First Asset Canadian REIT ETF has significant price volatility in the past 3 months.
RIT Share Price and Events
7 Day Returns
4.2%
TSX:RIT
2.8%
CA Capital Markets
7.1%
CA Market
1 Year Returns
-21.9%
TSX:RIT
-18.5%
CA Capital Markets
-25.3%
CA Market
RIT Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
CI First Asset Canadian REIT ETF (RIT) 4.2% -25.2% -24.9% -21.9% -11% 3.7%
CA Capital Markets 2.8% -24.6% -26.7% -18.5% -19.3% -20.5%
CA Market 7.1% -24.1% -26.7% -25.3% -23.4% -17.5%
1 Year Return vs Industry and Market
  • RIT underperformed the Capital Markets industry which returned -18.5% over the past year.
  • RIT outperformed the Market in Canada which returned -25.3% over the past year.
Price Volatility
RIT
Industry
5yr Volatility vs Market

RIT Value

 Is CI First Asset Canadian REIT ETF undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of CI First Asset Canadian REIT ETF to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for CI First Asset Canadian REIT ETF.

TSX:RIT Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= CA$16.03 * 8.4%
CA$1.35
Book Value of Equity per Share Median Book Value from the past 5 years. CA$16.03
Discount Rate (Cost of Equity) See below 6%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:RIT
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.754 (1 + (1- 26.5%) (0%))
0.835
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (0.835 * 5.44%)
5.98%

Discounted Cash Flow Calculation for TSX:RIT using Excess Returns Model Model

The calculations below outline how an intrinsic value for CI First Asset Canadian REIT ETF is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

TSX:RIT Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.4% – 5.98%) * CA$16.03)
CA$0.39
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CA$0.39 / (5.98% - 1.44%)
CA$8.53
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CA$16.03 + CA$8.53
CA$24.56
TSX:RIT Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$24.56
Current discount Discount to share price of CA$14.05
= -1 x (CA$14.05 - CA$24.56) / CA$24.56
42.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price CI First Asset Canadian REIT ETF is available for.
Intrinsic value
43%
Share price is CA$14.05 vs Future cash flow value of CA$24.56
Current Discount Checks
For CI First Asset Canadian REIT ETF to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • CI First Asset Canadian REIT ETF's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • CI First Asset Canadian REIT ETF's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for CI First Asset Canadian REIT ETF's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are CI First Asset Canadian REIT ETF's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:RIT PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$2.75
TSX:RIT Share Price ** TSX (2020-03-27) in CAD CA$14.05
Canada Capital Markets Industry PE Ratio Median Figure of 15 Publicly-Listed Capital Markets Companies 7.45x
Canada Market PE Ratio Median Figure of 497 Publicly-Listed Companies 10.58x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of CI First Asset Canadian REIT ETF.

TSX:RIT PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:RIT Share Price ÷ EPS (both in CAD)

= 14.05 ÷ 2.75

5.1x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CI First Asset Canadian REIT ETF is good value based on earnings compared to the CA Capital Markets industry average.
  • CI First Asset Canadian REIT ETF is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does CI First Asset Canadian REIT ETF's expected growth come at a high price?
Raw Data
TSX:RIT PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.1x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
North America Capital Markets Industry PEG Ratio Median Figure of 39 Publicly-Listed Capital Markets Companies 1.84x
Canada Market PEG Ratio Median Figure of 234 Publicly-Listed Companies 0.69x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for CI First Asset Canadian REIT ETF, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on CI First Asset Canadian REIT ETF's assets?
Raw Data
TSX:RIT PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$18.65
TSX:RIT Share Price * TSX (2020-03-27) in CAD CA$14.05
Canada Capital Markets Industry PB Ratio Median Figure of 157 Publicly-Listed Capital Markets Companies 0.82x
Canada Market PB Ratio Median Figure of 2,351 Publicly-Listed Companies 1x
TSX:RIT PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:RIT Share Price ÷ Book Value per Share (both in CAD)

= 14.05 ÷ 18.65

0.75x

* Primary Listing of CI First Asset Canadian REIT ETF.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CI First Asset Canadian REIT ETF is good value based on assets compared to the CA Capital Markets industry average.
X
Value checks
We assess CI First Asset Canadian REIT ETF's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. CI First Asset Canadian REIT ETF has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

RIT Future Performance

 How is CI First Asset Canadian REIT ETF expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as CI First Asset Canadian REIT ETF has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.8%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is CI First Asset Canadian REIT ETF expected to grow at an attractive rate?
  • Unable to compare CI First Asset Canadian REIT ETF's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare CI First Asset Canadian REIT ETF's earnings growth to the Canada market average as no estimate data is available.
  • Unable to compare CI First Asset Canadian REIT ETF's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSX:RIT Future Growth Rates Data Sources
Data Point Source Value (per year)
North America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 5.8%
North America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 2.7%
Canada Market Earnings Growth Rate Market Cap Weighted Average 7.8%
Canada Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:RIT Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:RIT Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 98 30 93
2019-09-30 75 17 70
2019-06-30 52 5 48
2019-03-31 33 8 30
2018-12-31 14 11 11
2018-09-30 22 11 19
2018-06-30 30 11 27
2018-03-31 30 9 27
2017-12-31 30 8 27
2017-09-30 25 14 23
2017-06-30 21 21 18
2017-03-31 22 17 20

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if CI First Asset Canadian REIT ETF is high growth as no earnings estimate data is available.
  • Unable to determine if CI First Asset Canadian REIT ETF is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:RIT Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from CI First Asset Canadian REIT ETF Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:RIT Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 2.75
2019-09-30 2.09
2019-06-30 2.08
2019-03-31 1.37
2018-12-31 0.56
2018-09-30 0.98
2018-06-30 1.44
2018-03-31 1.55
2017-12-31 1.68
2017-09-30 1.56
2017-06-30 1.40
2017-03-31 1.71

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if CI First Asset Canadian REIT ETF will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess CI First Asset Canadian REIT ETF's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the North America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the North America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
CI First Asset Canadian REIT ETF has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

RIT Past Performance

  How has CI First Asset Canadian REIT ETF performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare CI First Asset Canadian REIT ETF's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • CI First Asset Canadian REIT ETF has delivered over 20% year on year earnings growth in the past 5 years.
  • CI First Asset Canadian REIT ETF's 1-year earnings growth exceeds its 5-year average (730.3% vs 43.4%)
  • CI First Asset Canadian REIT ETF's earnings growth has exceeded the CA Capital Markets industry average in the past year (730.3% vs -9.4%).
Earnings and Revenue History
CI First Asset Canadian REIT ETF's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from CI First Asset Canadian REIT ETF Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:RIT Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 97.83 92.66 4.27
2019-09-30 74.94 70.36 3.79
2019-06-30 51.83 48.05 3.11
2019-03-31 33.02 29.60 2.83
2018-12-31 14.20 11.16 2.55
2018-09-30 22.03 19.06 2.47
2018-06-30 29.86 26.95 2.39
2018-03-31 29.90 27.09 2.30
2017-12-31 29.94 27.22 2.20
2017-09-30 25.37 22.67 2.02
2017-06-30 20.80 18.13 1.85
2017-03-31 21.83 19.57 1.62
2016-12-31 22.87 21.00 1.38
2016-09-30 22.58 21.04 1.15
2016-06-30 22.30 21.08 0.92
2016-03-31 14.41 12.97 0.89
2015-12-31 6.51 4.85 0.87
2015-09-30 6.58 4.87 0.92
2015-06-30 6.64 4.88 0.97
2015-03-31 8.22 6.61 0.98
2014-12-31 9.81 8.34 0.98
2014-09-30 9.89 8.52 1.02
2014-06-30 9.98 8.69 1.06
2014-03-31 5.53 4.13 1.14
2013-12-31 1.08 -0.42 1.22
2013-09-30 -0.05 1.53 1.32
2013-06-30 -0.33 3.78 1.43
2013-03-31 2.57 11.73 1.50

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • CI First Asset Canadian REIT ETF has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • CI First Asset Canadian REIT ETF used its assets more efficiently than the CA Capital Markets industry average last year based on Return on Assets.
  • CI First Asset Canadian REIT ETF has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess CI First Asset Canadian REIT ETF's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
CI First Asset Canadian REIT ETF has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

RIT Health

 How is CI First Asset Canadian REIT ETF's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up CI First Asset Canadian REIT ETF's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • CI First Asset Canadian REIT ETF is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • CI First Asset Canadian REIT ETF has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of CI First Asset Canadian REIT ETF's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • CI First Asset Canadian REIT ETF has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from CI First Asset Canadian REIT ETF Company Filings, last reported 2 months ago.

TSX:RIT Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 627.45 0.00 45.00
2019-09-30 627.45 0.00 45.00
2019-06-30 510.39 0.00 25.71
2019-03-31 510.39 0.00 25.71
2018-12-31 344.92 0.00 18.01
2018-09-30 344.92 0.00 18.01
2018-06-30 320.81 0.00 24.03
2018-03-31 320.81 0.00 24.03
2017-12-31 305.39 0.00 20.22
2017-09-30 305.39 0.00 20.22
2017-06-30 259.73 0.00 23.79
2017-03-31 259.73 0.00 23.79
2016-12-31 192.39 0.00 14.47
2016-09-30 192.39 0.00 14.47
2016-06-30 153.56 0.00 4.24
2016-03-31 153.56 0.00 4.24
2015-12-31 85.23 0.00 3.01
2015-09-30 85.23 0.00 3.01
2015-06-30 66.57 0.00 2.33
2015-03-31 66.57 0.00 2.33
2014-12-31 65.03 4.00 0.68
2014-09-30 65.03 4.00 0.68
2014-06-30 73.18 0.00 1.11
2014-03-31 73.18 0.00 1.11
2013-12-31 68.76 2.70 0.65
2013-09-30 68.00 2.70 0.65
2013-06-30 81.73 0.00 3.50
2013-03-31 81.73 0.00 3.50
  • CI First Asset Canadian REIT ETF has no debt.
  • CI First Asset Canadian REIT ETF has no debt compared to 5 years ago when it was 6.1%.
  • CI First Asset Canadian REIT ETF has no debt, it does not need to be covered by operating cash flow.
  • CI First Asset Canadian REIT ETF has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess CI First Asset Canadian REIT ETF's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. CI First Asset Canadian REIT ETF has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

RIT Dividends

 What is CI First Asset Canadian REIT ETF's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.77%
Current annual income from CI First Asset Canadian REIT ETF dividends.
If you bought CA$2,000 of CI First Asset Canadian REIT ETF shares you are expected to receive CA$115 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • CI First Asset Canadian REIT ETF's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.75%).
  • CI First Asset Canadian REIT ETF's dividend is below the markets top 25% of dividend payers in Canada (8.79%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:RIT Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Canada Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 6.1%
Canada Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 4.9%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.3%
Canada Bottom 25% Dividend Yield 25th Percentile 2.7%
Canada Top 25% Dividend Yield 75th Percentile 8.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:RIT Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2020-02-12 0.810 4.768
2020-01-16 0.810 4.155
2019-12-12 0.810 4.341
2019-11-14 0.810 4.266
2019-10-16 0.810 4.298
2019-09-13 0.810 4.281
2019-08-15 0.810 4.390
2019-07-16 0.810 4.458
2019-05-15 0.810 4.532
2019-04-12 0.810 4.608
2019-03-14 0.810 4.549
2019-02-12 0.810 4.653
2019-01-16 0.810 4.806
2018-12-12 0.810 5.052
2018-11-15 0.810 4.930
2018-10-16 0.810 4.946
2018-09-13 0.810 4.884
2018-08-16 0.810 4.789
2018-07-16 0.810 4.874
2018-06-14 0.810 4.895
2018-05-15 0.810 4.926
2018-04-13 0.810 5.050
2018-03-14 0.810 5.116
2018-02-12 0.810 5.171
2018-01-16 0.810 5.101
2017-12-15 0.810 5.055
2017-11-20 0.810 5.064
2017-10-19 0.810 5.101
2017-09-19 0.810 5.159
2017-08-21 0.810 5.206
2017-07-19 0.810 5.201
2017-06-20 0.810 5.104
2017-05-18 0.810 5.029
2017-04-18 0.810 5.051
2017-03-21 0.810 5.113
2017-02-15 0.810 5.183
2017-01-19 0.810 5.259
2016-12-16 0.810 5.389
2016-11-18 0.810 5.503
2016-10-19 0.810 5.479
2016-09-20 0.810 5.361
2016-08-19 0.810 5.264
2016-07-19 0.810 5.174
2016-06-20 0.810 5.255
2016-05-18 0.810 5.392
2016-04-19 0.810 5.537
2016-03-18 0.810 5.642
2016-02-17 0.744 5.367
2016-01-19 0.736 5.627
2015-12-08 0.766 5.757
2015-11-18 0.784 5.677
2015-10-20 0.746 5.360
2015-09-18 0.748 5.418
2015-08-19 0.604 4.499
2015-07-22 0.600 4.445
2015-06-22 0.600 4.473
2015-05-20 0.600 4.525
2015-04-21 0.600 4.497
2015-03-23 0.600 4.440
2015-02-19 0.600 4.491
2015-01-21 0.600 4.448
2014-12-18 0.600 4.683
2014-11-20 0.600 4.773
2014-10-22 0.600 4.628
2014-09-19 0.600 4.689
2014-08-20 0.600 4.588
2014-07-22 0.600 4.671
2014-06-19 0.600 4.740
2014-05-21 0.600 4.753
2014-04-21 0.600 4.830
2014-03-20 0.600 4.885
2014-02-19 0.600 4.956
2014-01-22 0.600 5.060
2013-12-18 0.600 5.064
2013-11-20 0.600 5.092
2013-10-22 0.600 4.933
2013-09-19 0.600 5.025
2013-08-21 0.600 5.202
2013-07-22 0.600 5.124
2013-06-19 0.600 5.001
2013-05-23 0.600 4.781
2013-04-19 0.600 4.604
2013-03-19 0.600 4.697
2013-02-19 0.600 4.659
2013-01-22 0.600 4.668
2013-01-09 0.600 4.713
2012-11-21 0.600 4.834
2012-10-22 0.600 4.785
2012-09-19 0.600 4.751
2012-08-22 0.600 4.735
2012-07-20 0.600 4.753
2012-06-20 0.600 4.940
2012-05-22 0.600 5.004
2012-04-19 0.600 5.020
2012-03-21 0.600 5.194
2012-02-17 0.600 5.185
2012-01-20 0.600 5.272
2011-12-20 0.600 5.339
2011-11-21 0.600 5.463
2011-10-20 0.600 5.390
2011-09-21 0.600 5.583
2011-08-22 0.600 5.534
2011-07-20 0.600 5.527
2011-05-18 0.600 5.345
2011-04-19 0.600 5.338
2011-03-22 0.600 5.451
2011-02-16 0.600 5.537
2011-01-20 0.600 5.625
2011-01-10 0.600 5.683
2010-11-18 0.600 5.809
2010-10-20 0.600 5.667
2010-09-20 0.600 5.787
2010-08-19 0.600 6.092
2010-07-22 0.600 6.357
2010-06-18 0.600 6.589
2010-05-18 0.600 6.663
2010-04-21 0.600 6.534
2010-03-22 0.600 6.535
2010-02-17 0.600 6.694
2010-01-20 0.600 6.751
2010-01-06 0.600 6.716
2009-11-19 0.600 7.213
2009-10-21 0.600 7.404
2009-09-21 0.600 7.413
2009-08-20 0.600 7.744
2009-07-22 0.600 8.157
2009-06-19 0.600 8.514
2009-05-20 0.600 8.395
2009-04-21 0.600 8.627

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of CI First Asset Canadian REIT ETF's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as CI First Asset Canadian REIT ETF has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess CI First Asset Canadian REIT ETF's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can CI First Asset Canadian REIT ETF afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. CI First Asset Canadian REIT ETF has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

RIT Management

 What is the CEO of CI First Asset Canadian REIT ETF's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
  • CI First Asset Canadian REIT ETF has no CEO, or we have no data on them.
Management Team

Lee Goldman

TITLE
Portfolio Manager

Craig Allardyce

TITLE
Portfolio Manager

Manash Goswami

TITLE
Portfolio Manager

Kate MacDonald

TITLE
Portfolio Manager
TENURE
5.9 yrs
Board of Directors

Carl Solomon

TITLE
Member of Advisory Board of First Asset Investment Management Inc
COMPENSATION
CA$40K

Doug Mills

TITLE
Member of Advisory Board of First Asset Investment Management Inc
COMPENSATION
CA$55K
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
X
Management checks
We assess CI First Asset Canadian REIT ETF's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. CI First Asset Canadian REIT ETF has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

RIT News

Simply Wall St News

RIT Company Info

Description

CI First Asset Canadian REIT ETF is an exchange traded fund launched and managed by First Asset Investment Management Inc. The fund invests in the public equity markets of Canada. It seeks to invest in the stocks of companies operating in the real estate sector, including real estate operating corporations and corporations involved in real estate related services and REITs. The fund invests in the stocks of companies across all market capitalizations. It employs a combination of fundamental and quantitative analysis, with a focus on factors such as company analysis, attractive risk/reward profile, and due-diligence to create its portfolio. The fund benchmarks the performance of its portfolio against the S&P/TSX Capped REIT TR Index. It conducts proprietary research to create its portfolio. CI First Asset Canadian REIT ETF was formed on October 28, 2004 and is domiciled in Canada.

Details
Name: CI First Asset Canadian REIT ETF
RIT
Exchange: TSX
Founded: 2004
CA$507,852,255
36,146,068
Website: http://www.firstasset.com/solutions/overview/?fund=First+Asset+Canadian+REIT+ETF
Address: CI First Asset Canadian REIT ETF
2 Queen Street East,
Suite 1200,
Toronto,
Ontario, M5C 3G7,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX RIT Fund Units The Toronto Stock Exchange CA CAD 15. Nov 2004
Number of employees
Current staff
Staff numbers
0
CI First Asset Canadian REIT ETF employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/29 02:03
End of day share price update: 2020/03/27 00:00
Last earnings filing: 2020/03/25
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.