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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 Press Releases Prospectus (English) Prospectus (French) All Fund Documents

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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):
    $0.13
  • Quarterly Distribution (Preferred Shares):
    $0.1313
  • 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 2023 2022 2021 2020 2019
September 30, 2024 8.49% 38.40% 21.85% 21.31% 40.69% 1.54% - - 9.65% 5.53% -27.06% 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 2023 2022 2021 2020 2019
September 30, 2024 0.44% 1.31% 2.63% 3.97% 5.33% 5.32% - - 5.33% 5.33% 5.33% 5.33% - -

Distributions (Class A)

Total NAV & Distributions (since inception)  
RECORD DATE PAYMENT DATE PAYMENT AMOUNT
April 30, 2024 May 15, 2024 0.13
March 31, 2024 April 15, 2024 0.13
February 29, 2024 March 15, 2024 0.13
January 31, 2024 February 15, 2024 0.13
RECORD DATE PAYMENT DATE PAYMENT AMOUNT
December 31, 2023 January 15, 2024 0.13
November 30, 2023 December 15, 2023 0.13
October 31, 2023 November 15, 2023 0.13
September 30, 2023 October 13, 2023 0.13
August 31, 2023 September 15, 2023 0.13
July 31, 2023 August 15, 2023 0.13
June 30, 2023 July 14, 2023 0.13
May 31, 2023 June 15, 2023 0.13
April 30, 2023 May 15, 2023 0.13
March 31, 2023 April 14, 2023 0.13
February 28, 2023 March 15, 2023 0.13
January 31, 2023 February 15, 2023 0.13
RECORD DATE PAYMENT DATE PAYMENT AMOUNT
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
March 31, 2022 April 15, 2022 0.13
February 28, 2022 March 15, 2022 0.13
January 31, 2022 February 15, 2022 0.13
RECORD DATE PAYMENT DATE PAYMENT AMOUNT
December 31, 2021 January 14, 2022 0.13
November 30, 2021 December 15, 2021 0.13
October 31, 2021 November 15, 2021 0.13
September 30, 2021 October 15, 2021 0.13
August 31, 2021 September 15, 2021 0.13
July 31, 2021 August 13, 2021 0.1
June 30, 2021 July 15, 2021 0.1
May 31, 2021 June 15, 2021 0.1
April 30, 2021 May 14, 2021 0.1
March 31, 2021 April 15, 2021 0.1
February 28, 2021 March 15, 2021 0.1
January 31, 2021 February 12, 2021 0.1
RECORD DATE PAYMENT DATE PAYMENT AMOUNT
December 31, 2020 January 15, 2021 0.1

Distributions (Preferred)

Total NAV & Distributions (since inception)  
RECORD DATE PAYMENT DATE PAYMENT AMOUNT
March 31, 2024 April 15, 2024 0.13125
RECORD DATE PAYMENT DATE PAYMENT AMOUNT
December 31, 2023 January 15, 2024 0.13125
September 30, 2023 October 13, 2023 0.13125
June 30, 2023 July 14, 2023 0.13125
March 31, 2023 April 14, 2023 0.13125
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
RECORD DATE PAYMENT DATE PAYMENT AMOUNT
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
RECORD DATE PAYMENT DATE PAYMENT AMOUNT
December 31, 2020 January 15, 2021 0.06135

Fund Details

Sector Allocation (%)

As Of March 31, 2024
Real Estate 100.00%

Geographic Allocation (%)

As Of March 31, 2024
Canada 94.60%
U.S. 5.40%
International 0.00%

Top 10 Holdings

1 Boardwalk REIT 10.10%
2 Granite REIT 9.80%
3 Dream Industrial REIT 8.50%
4 Canadian Apartment Properties REIT 7.30%
5 RioCan REIT 7.10%
6 Choice Properties REIT 6.80%
7 Killam Apartment REIT 6.60%
8 Minto Apartment REIT 6.10%
9 First Capital REIT 5.80%
10 InterRent REIT 5.60%
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