Canadian REITs announce upcoming distributions

Canadian REITs announce upcoming distributions

Canadian REITs announce upcoming distributions Amid sustained strength in the national real estate segment, various Canadian REITs have scheduled their upcoming cash distributions for their unitholders.

The newly formed Nexus Real Estate Investment Trust (TSXV: NXR.UN) announced that it will be making a cash distribution in the amount of $0.01333 per unit, representing $0.16 per unit on an annualized basis. Scheduled for May 15, the distribution will cover unitholders of record as of April 28.

Nexus “announced today that it has paid outstanding retainer fees payable to independent trustees of the REIT in the amount of $26,875, net of applicable payroll withholding taxes of $4,002, through the issuance of 11,742 units of the REIT at an average price of $1.948 per Trust Unit. The Trust Units were issued under the REIT's Non-Executive Trustee Unit Issuance Plan.”

Meanwhile, Cominar Real Estate Investment Trust (TSX: CUF.UN)—currently the largest commercial property owner in Quebec, with its portfolio of 530 office, retail, and industrial/mixed-use properties—announced its distribution of 12.25 cents per unit to unitholders of record as of April 28, payable on May 15.

In addition, the Ontario-based Crombie Real Estate Investment Trust (TSX: CRR.UN) scheduled its distribution of $0.07417 per unit on May 15. The distribution will cover the period from April 1 to and including April 30.