RioCan’s Q2 Earnings Indicate Strong Market Position
Company Announcements

RioCan’s Q2 Earnings Indicate Strong Market Position

Story Highlights

RioCan Real Estate Investment (TSE:REI.UN) has released an update.

RioCan Real Estate Investment Trust reports a robust second quarter with a record-high new leasing spread of 52.5% and an occupancy rate of 98.3% for retail properties, indicating strong demand and strategic tenant selection. Financially, the company announced an increase in net income to $122.4 million, despite a slight decrease in funds from operations per unit. The outlook for 2024 remains positive, with expected growth in Commercial Same Property NOI and controlled development spending.

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

Related Articles
TipRanks Canadian Auto-Generated NewsdeskRioCan Completes Major $700 Million Debenture Issuance
TipRanks Canadian Auto-Generated NewsdeskRioCan Launches $700 Million Debenture Offering
TipRanks Canadian Auto-Generated NewsdeskRioCan REIT to Redeem $300M Debentures Early
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App