Investors have been a little shaken up since RioCan Real Estate Investment Trust (TSX:REI.UN) shares dropped close to 20% from $30 to now trade around $25 a share. Some investors are questioning whether or not they should put money into this company.

There are two reasons why investors are worried. The first has to do with the United States consistently talking about—and then backing away from—raising interest rates. If interest rates go up, borrowing costs go up, and that has an impact on REITs. The other reason is because Canada has officially entered a recession, which means that the retail sector—the sector RioCan is in—could be affected.

However, I think that the significant drop in the price of RioCan is a buying opportunity through and through. Investors would be smart to start picking up shares. Here are a few reasons.

1. Amazing properties and tenants

The reality is, RioCan has one of the most lucrative networks of properties across the REIT universe. In Canada, it owns 340 different shopping centres that account for 80 million square feet. And these are not small operations; these are really large shopping centres. In the United States, it owns 48 different locations that account for 13 million square feet. Again, these are large shopping centres.

Because of these high-quality shopping centres, its tenants are elite. Its occupancy rate is 97%, which makes sense considering Best Buy, Walmart, Cineplex, and Canadian Tire are all tenants. These big companies aren’t going to disappear any time soon. That means that RioCan’s revenue is expected and consistent.

2. It is growing and diversifying

Believe it or not, but the company is growing and diversifying. The first is through a partnership with Hudson’s Bay Co. This new partnership mixes RioCan’s capital and management experience with Hudson’s Bay’s properties, forming a new REIT. This new REIT will make its own acquisitions and, at some point, it will go public on the TSX. RioCan and HBC will both own significant portions of the company.

RioCan is also looking to grow in the residential market. There are a few steps to launching a new property. The first is finding the land, which can be a hassle and also very expensive. However, if you already own 80 million square feet of rentable retail space, that means you have a lot of land. RioCan is planning to put condos on top of some of its retail space. Building up is a way to generate more revenue per parcel of land.

3. Selling in the U.S.

When the 2008 Financial Crisis was in full swing, many U.S. property owners were going belly up. RioCan came in and bought quite a few properties during that time. With the U.S. dollar so strong now, and the value of those properties appreciating significantly, the company is considering selling them. This would result in a special dividend or paying down debt, both great signs for RioCan.

4. Dividends are lucrative

On the dividend side, the company is very lucrative. It pays $0.12 per month to investors, which is a 5.57% yield. To top it off, the company has never missed a dividend payment, so investors don’t have to worry about whether or not they’re going to earn their living. That, to me, makes this stock an absolute buy.

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Fool contributor Jacob Donnelly has no position in any stocks mentioned.