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Real Estate & E-Commerce Split Corp. Class A (RS) AI Stock Analysis

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TSE:RS

Real Estate & E-Commerce Split Corp. Class A

(TSX:RS)

Select Model
Rating:64Neutral
Price Target:CAD 9.00â–²(5.02% Upside)
Action:downgraded
Date:08/28/26

The overall score reflects a financially conservative structure with strong revenue growth but highly unpredictable earnings and historically weak cash generation as the dominant factor, combined with a neutral-to-soft technical profile and a very high dividend yield that appears attractive yet carries elevated risk given the volatile fundamentals.

Positive Factors
Revenue ScalingMeaningful revenue expansion indicates the portfolio’s underlying investment activity has scaled materially over time. If this growth continues, it can broaden the asset base supporting shareholder returns and improve the corporation’s ability to absorb recurring management and administrative costs.
Negative Factors
Volatile ProfitabilityLarge swings between sizable losses and an unusually high reported margin make earnings power difficult to assess and reduce confidence that recent results will persist. This volatility can complicate distribution planning, weaken forecasting reliability, and make shareholder returns more dependent on portfolio revaluations.

Real Estate & E-Commerce Split Corp. Class A (RS) vs. iShares MSCI Canada ETF (EWC)

-5%0%5%10%15%20%25%30%35%TSE:RS+9.79%EWC+21.04%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
CAD 98.83M
Dividend Yield
18.20%
Average Volume (3M)
33.59K
Price to Earnings (P/E)
4.9
Beta (1Y)
0.84
Revenue Growth
95.81%
EPS Growth
37.32%
Country
Canada
Employees
―
Sector
Financial
Sector Strength
68
Industry
Asset Management

Real Estate & E-Commerce Split Corp. Class A Business Overview & Revenue Model

Company Description

Real Estate Split Corp. is a mutual fund corporation that invests in a diversified, actively managed portfolio of dividend-paying securities of issuers operating in the real estate or related sectors. Its investment objectives are to provide holders...

How the Company Makes Money

Real Estate & E-Commerce Split Corp. makes money primarily through investment income and capital appreciation generated by its underlying portfolio holdings. Key revenue sources typically include (1) dividends and other distributions received from th...

Real Estate & E-Commerce Split Corp. Class A Financial Statement Overview

Summary

Strong revenue growth, high gross profitability, and a very low‑debt balance sheet are offset by highly volatile earnings and a weak historical cash flow track record, despite recent improvement.

Income Statement

58Neutral

Balance Sheet

82Very Positive

Cash Flow

45Neutral
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue13.69M8.16M6.17M5.14M3.12M1.37M
Gross Profit10.90M5.72M4.43M3.71M2.07M669.97K
EBITDA27.90M11.71M-6.52M3.92M-17.30M12.37M
Net Income20.44M11.04M-7.02M3.81M-17.34M12.30M
Balance Sheet
Total Assets237.71M230.55M231.44M150.25M121.09M78.56M
Cash, Cash Equivalents and Short-Term Investments236.73M229.77M230.51M149.30M120.61M78.26M
Total Debt114.47M000500.00K500.00K
Total Liabilities117.81M121.73M118.11M70.19M54.64M27.69M
Stockholders Equity119.90M108.82M113.33M80.06M66.46M50.87M
Cash Flow
Free Cash Flow-2.16M6.23M-80.19M-26.66M-57.83M-26.41M
Operating Cash Flow-2.16M6.23M-80.19M-26.66M-57.83M-26.41M
Investing Cash Flow29.60M00000
Financing Cash Flow-23.40M-12.21M87.80M24.74M59.47M27.75M

Real Estate & E-Commerce Split Corp. Class A Technical Analysis

Technical Analysis SentimentNeutral
Last Price8.57

Price Trends

50DMA8.59Negative
100DMA9.20Negative
200DMA9.07Negative

Market Momentum

MACD-0.02Negative
RSI50.72Neutral
STOCH60.92Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:RS, the sentiment is Neutral. The current price of 8.57 is above the 20-day moving average (MA) of 8.41, below the 50-day MA of 8.59, and below the 200-day MA of 9.07, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 50.72 is Neutral, neither overbought nor oversold. The STOCH value of 60.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:RS.

Real Estate & E-Commerce Split Corp. Class A Peers Comparison

Overall Rating

UnderperformOutperform
Sector (68)

Financial Indicators

TSE:RS against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TSE:QRCTSE:QRC79OutperformCAD 720.16M2.0147.52%2.68%33.16%―
TSE:URBTSE:URB68NeutralCAD 353.25M4.8113.70%1.56%-13.95%-19.16%
Sector *68Neutral$18.00B11.429.92%3.81%9.73%1.22%
TSE:RSTSE:RS64NeutralCAD 108.90M4.8517.87%18.20%95.81%37.32%
TSE:STCKTSE:STCK62NeutralCAD 217.35M2.4630.58%―80.96%55.00%
TSE:TINYTSE:TINY57NeutralCAD 191.96M-60.58-16.03%―3.68%-381.63%
TSE:FSZTSE:FSZ49NeutralCAD 236.23M12.577.95%18.23%-6.27%-32.55%

* Financial Sector Average

Performance Comparison

0%100%TSE:RSTSE:QRCTSE:FSZTSE:URBTSE:TINYTSE:STCKDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TSE:RS and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TSE:RSReal Estate & E-Commerce Split Corp. Class A8.570.719.07%
TSE:QRCQueen's Road Capital Investment Ltd.13.264.3949.43%
TSE:FSZFiera Capital A2.37-3.22-57.57%
TSE:URBUrbana Corporation9.000.728.67%
TSE:TINYWeCommerce Holdings Ltd. Class A6.55-2.60-28.42%
TSE:STCKStack Capital Group, Inc.13.721.229.76%

Real Estate & E-Commerce Split Corp. Class A Corporate Events

Dividends

Real Estate Split Corp. Declares October Distribution for Class A Shares

Neutral
Oct 23, 2026

Real Estate Split Corp. has declared a cash distribution of $0.13 per Class A equity share for October 2026, with a record date of October 31 and payment scheduled for November 13. The announcement reinforces the fund’s income-focused mandate for sha...

Business Operations and StrategyDividends

Real Estate Split Corp. Declares September Distributions for Class A and Preferred Shares

Positive
Sep 23, 2026

Real Estate Split Corp., a TSX-listed split share fund focused on real estate-related securities, offers Class A equity and preferred shares designed to deliver regular income distributions to investors. The structure appeals to income-focused shareh...

Private Placements and Financing

Real Estate Split Corp. Raises $21.5 Million in Non-Dilutive Overnight Offering

Positive
Sep 23, 2026

Real Estate Split Corp., an investment fund focused on a diversified portfolio of leading North American real estate companies, offers investors Class A shares targeting non-cumulative monthly distributions and capital appreciation, alongside preferr...

Private Placements and FinancingRegulatory Filings and Compliance

Real Estate Split Corp. Revises Prospectus for $21.5 Million Share Offering

Positive
Sep 16, 2026

Real Estate Split Corp. has amended and restated its prospectus supplement for an overnight treasury offering of Class A and preferred shares to reflect DBRS’s September 15, 2026 update of the preferred share rating to Pfd-3. The pricing is unchanged...

Business Operations and StrategyDividends

Real Estate Split Corp. Declares August Class A Share Distribution

Positive
Aug 24, 2026

Real Estate Split Corp. has declared a cash distribution of $0.13 per Class A equity share for August 2026, with a record date of August 31 and payment scheduled for September 15. The announcement reinforces the fund’s income-focused strategy for sha...

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 28, 2026