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Real Estate & E-Commerce Split Corp. Class A
(TSX:RS)
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Rating:56Neutral
Price Target:
C$9.00
▼(-10.45% Downside)
Action:Reiterated
Date:08/28/26
The score is primarily held back by inconsistent earnings quality and historically weak/volatile operating cash flow, despite strong revenue scaling and a very low-leverage balance sheet. Technical indicators are mildly negative in the near term, while the very high dividend yield provides some support on valuation, though the P/E data does not help validate earnings-based cheapness.
Positive Factors
Debt-Free Balance Sheet
The absence of reported debt and substantial equity provide a conservative capital structure for the corporation. Low leverage reduces interest obligations and refinancing pressure, preserving flexibility to manage the investment portfolio and withstand periods of weaker portfolio performance.
Negative Factors
Volatile Profitability
Large swings between losses and exceptionally high reported profitability make earnings power difficult to underwrite over a two-to-six-month horizon. This volatility reduces confidence that recent results represent a durable run rate and can complicate distribution planning and capital allocation.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-Free Balance Sheet
The absence of reported debt and substantial equity provide a conservative capital structure for the corporation. Low leverage reduces interest obligations and refinancing pressure, preserving flexibility to manage the investment portfolio and withstand periods of weaker portfolio performance.
Read all positive factors
Real Estate & E-Commerce Split Corp. Class A (RS) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$109.46M
Dividend Yield18.18%
Average Volume (3M)32.26K
Price to Earnings (P/E)4.9
Beta (1Y)0.88
Revenue Growth95.81%
EPS Growth37.32%
CountryCA
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)1.77
Shares Outstanding12,712,719
10 Day Avg. Volume37,481
30 Day Avg. Volume32,264
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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 holde...
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...
Real Estate & E-Commerce Split Corp. Class A Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
35
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 13.69M | 8.16M | 6.17M | 5.14M | 3.12M | 1.37M |
| Gross Profit | 10.90M | 5.72M | 4.43M | 3.71M | 2.07M | 669.97K |
| EBITDA | 27.90M | 11.71M | -6.52M | 3.92M | -17.30M | 12.37M |
| Net Income | 20.44M | 11.04M | -7.02M | 3.81M | -17.34M | 12.30M |
Balance Sheet | ||||||
| Total Assets | 237.71M | 230.55M | 231.44M | 150.25M | 121.09M | 78.56M |
| Cash, Cash Equivalents and Short-Term Investments | 236.73M | 229.77M | 230.51M | 149.30M | 120.61M | 78.26M |
| Total Debt | 114.47M | 0.00 | 0.00 | 0.00 | 500.00K | 500.00K |
| Total Liabilities | 117.81M | 121.73M | 118.11M | 70.19M | 54.64M | 27.69M |
| Stockholders Equity | 119.90M | 108.82M | 113.33M | 80.06M | 66.46M | 50.87M |
Cash Flow | ||||||
| Free Cash Flow | -2.16M | 6.23M | -80.19M | -26.66M | -57.83M | -26.41M |
| Operating Cash Flow | -2.16M | 6.23M | -80.19M | -26.66M | -57.83M | -26.41M |
| Investing Cash Flow | 29.60M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financing Cash Flow | -23.40M | -12.21M | 87.80M | 24.74M | 59.47M | 27.75M |
Real Estate & E-Commerce Split Corp. Class A Technical Analysis
Negative
10.05
Price Trends
9.45
Negative
9.57
Negative
9.22
Negative
Market Momentum
-0.22
Negative
30.35
Neutral
16.26
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:RS, the sentiment is Negative. The current price of 10.05 is above the 20-day moving average (MA) of 8.84, above the 50-day MA of 9.45, and above the 200-day MA of 9.22, indicating a bearish trend. The MACD of -0.22 indicates Negative momentum. The RSI at 30.35 is Neutral, neither overbought nor oversold. The STOCH value of 16.26 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:RS.
Real Estate & E-Commerce Split Corp. Class A Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | C$345.99M | 3.32 | 20.19% | 1.56% | -115.29% | 38.46% | |
79 Outperform | C$759.62M | 2.15 | 47.52% | 2.50% | 33.16% | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
60 Neutral | C$274.75M | 2.93 | 37.95% | ― | 834.12% | 90.05% | |
57 Neutral | C$174.38M | -60.58 | -16.03% | ― | 8.52% | -223.64% | |
56 Neutral | C$109.46M | 4.86 | 17.87% | 18.18% | 95.81% | 37.32% | |
52 Neutral | C$442.79M | 22.54 | 7.95% | 10.46% | -1.48% | -47.10% |
* Financial Sector Average
TSE:RS
Real Estate & E-Commerce Split Corp. Class A
8.58
0.03
0.39%
TSE:QRC
Queen's Road Capital Investment
14.18
5.91
71.50%
TSE:FSZ
Fiera Capital A
4.13
-1.76
-29.89%
TSE:URB
Urbana Corporation
8.96
1.30
16.97%
TSE:TINY
WeCommerce Holdings Ltd. Class A
6.05
-2.44
-28.74%
TSE:STCK
Stack Capital Group
17.95
4.46
33.06%
Real Estate & E-Commerce Split Corp. Class A Corporate Events
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 sha...
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 pref...
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 ...
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 strateg...
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.