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