RioCan REIT Reports Strong First Quarter Leasing

Riocan Reit (TSE:REI.UN) has released an update.

RioCan REIT showcased a robust first quarter with over 1.33 million square feet of leases completed, indicating a 14% increase in blended leasing spread, driven by high demand for quality retail spaces. The company’s strategic developments have bolstered the portfolio value and attracted resilient tenants, contributing to a net income rise to $128.6 million, a $10.6 million increase compared to the previous year. Financial strength is further evidenced by a modest FFO per unit growth and a solid balance sheet, positioning RioCan well for future performance.

For further insights into TSE:REI.UN stock, check out TipRanks’ Stock Analysis page.