Real Estate Split Corp.

Fund Description

The Real Estate Split Corp. invests in a diversified, actively managed, high conviction portfolio of Real Estate Issuers engaged in e-commerce, data infrastructure as well as the multi-family, retail, office and healthcare sectors.

Real Estate Split Corp. offers two type of shares, i) Class A shares that pay monthly distributions representing a yield of 8.0% per annum on the issue price of $15.00 and offer the opportunity for capital appreciation potential; and ii) preferred shares that pay a quarterly distribution representing a yield of 5.25% per annum on the issue price of $10.00.

Key Reasons to Invest:

  • exposure to the underlying performance of a high conviction portfolio of real estate issuers in a unique split share structure
  • the Preferred Shares provide investors with a stable stream of tax efficient income paid quarterly and have a priority claim on the assets of the Fund ahead of the Class A shares
  • the Class A Shares provide investors with all of the capital appreciation potential of the Fund’s assets as well as a targeted monthly distribution generated by capital gains and excess dividend income after the preferred share distributions have been paid

RS 

Closing price  Ways To Invest Fact Sheet Prospectus (English) Prospectus (French) All Fund Documents

Fund Overview

  • Ticker/CUSIP (Class A Shares):
    RS / 75602C107
  • Ticker/CUSIP (Preferred Shares):
    RS.PR.A / 75602C206
  • Inception Date:
    November 19, 2020
  • Monthly Distribution (Class A Shares):
    $0.13000
  • Quarterly Distribution (Preferred Shares):
    $0.13130
  • Advisor:
    Middlefield Capital Corporation
  • Eligibility:
    RRSPs, DPSPs, RDSPs, RRIFs, TFSAs and RESPs
  • Management Fee:
    0.85%
  • Risk Rating:
    Not Rated
  • Exchange:
    Toronto Stock Exchange

Fund Managers

Headshot of Dean Orrico
Dean Orrico
President and Chief Executive Officer
Headshot of Robert Moffat
Robert Moffat
Portfolio Manager

Performance (Class A)

 
AS OF 1 MONTH 3 MONTHS 6 MONTHS YEAR-TO-DATE 1 YEAR 3 YEARS 5 YEARS 10 YEARS SINCE INCEPTION 2021 2020 2019 2018
December 31, 2022 -5.33% 13.96% -1.98% -27.06% -27.06% - - - 5.30% 54.78% - - -

Performance (Preferred)

 
AS OF 1 MONTH 3 MONTHS 6 MONTHS YEAR-TO-DATE 1 YEAR 3 YEARS 5 YEARS 10 YEARS SINCE INCEPTION 2021 2020 2019 2018
December 31, 2022 0.44% 1.31% 2.63% 5.33% 5.33% - - - 5.33% 6.01% - - -

Distributions (Class A)

Total NAV & Distributions (since inception)  
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RECORD DATE PAYMENT DATE PAYMENT AMOUNT
January 31, 2023 February 15, 2023 0.13
December 31, 2022 January 13, 2023 0.13
November 30, 2022 December 15, 2022 0.13
October 31, 2022 November 15, 2022 0.13
September 30, 2022 October 14, 2022 0.13
August 31, 2022 September 15, 2022 0.13
July 31, 2022 August 15, 2022 0.13
June 30, 2022 July 15, 2022 0.13
May 31, 2022 June 15, 2022 0.13
April 30, 2022 May 13, 2022 0.13

Distributions (Preferred)

Total NAV & Distributions (since inception)  
RECORD DATE PAYMENT DATE PAYMENT AMOUNT
December 31, 2022 January 13, 2023 0.13125
September 30, 2022 October 14, 2022 0.13125
June 30, 2022 July 15, 2022 0.13125
March 31, 2022 April 15, 2022 0.13125
December 31, 2021 January 14, 2022 0.13125
September 30, 2021 October 15, 2021 0.13125
June 30, 2021 July 15, 2021 0.13125
March 31, 2021 April 15, 2021 0.13125
December 31, 2020 January 15, 2021 0.06135

Fund Details

Sector Allocation (%)

As Of December 31, 2022
Retail REITs 37.40%
Industrial REITs 27.80%
Residential REITs 19.00%
Diversified REITs 6.80%
Office REITs 3.30%
Health Care REITs 3.10%
Specialized REITs 2.60%

Geographic Allocation (%)

As Of December 31, 2022
Canada 93.40%
U.S. 6.60%
International 0.00%

Top 10 Holdings

1 Dream Industrial REIT 8.10%
2 Summit Industrial Income REIT 7.90%
3 Granite REIT 7.80%
4 H&R REIT 6.80%
5 Choice Properties REIT 6.40%
6 RioCan REIT 6.30%
7 Crombie REIT 6.20%
8 SmartCentres REIT 6.00%
9 Canadian Apartment Properties REIT 5.90%
10 First Capital REIT 5.80%
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