FINWIRES · TerminalLIVE
FINWIRES

Research Alert: Riocan Real Estate Investment Trust Q1: New Lease Growth Accelerates To 59% Y/y

By

-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

RioCan reported Q1 rental revenue of $308M (+3.9% Y/Y) with Commercial Same Property NOI rising 4.7% Y/Y to $156M, driven by contractual rent steps and positive renewal spreads. Core FFO was $0.39 per unit, flat Y/Y but $0.03 below consensus, as NOI growth and unit buybacks offset asset dispositions and higher interest expense. The quarter showcased exceptional leasing momentum with record spreads of 58.5% on new leases and 20.1% on renewals, highlighting significant embedded mark-to-market opportunities with retail committed occupancy at near-full 98.6%. Management reaffirmed 2026 Core FFO guidance of $1.60-$1.62 per share, representing over 3.5% CAGR through 2028. RioCan continued strategic capital recycling, completing $47M in residential dispositions while acquiring $145M in retail properties (Georgian Mall, Oakville Place), with total capital repatriation reaching $705M closed ($1.04B proforma) toward the $1.3B target.

Related Articles

Asia

SSY Group's Attributable Profit, Turnover Rise in Q1

SSY Group (HKG:2005) reported unaudited profit attributable to shareholders of the company of HK$171.2 million for the quarter ended March 31, up from HK$168.5 million in the year-ago period, according to a Hong Kong bourse filing on Monday.The Hong Kong-listed pharmaceutical product maker's turnover in the first quarter reached HK$1.23 billion, compared with HK$1.14 billion a year ago.

$HKG:2005
Commodities

Crescent Energy Posts Q1 Earnings, Boosted by Oil, Gas Volume Gains

Crescent Energy Company (CRGY) reported Q1 earnings Monday, showing average daily net sales volumes of 341,000 barrels of oil equivalent per day, up from 258,000 boe/d a year earlier.Crescent reported that it had outperformed average daily net sales volume estimates of 328,000 boe/d by about 4%.The company reported average daily net oil sales volumes of 140,000 barrels per day for the quarter ended March 31, up from 102,000 b/d a year earlier.Average daily net sales volumes for natural gas rose to 743 million cubic feet per day for the quarter, up from 655 MMcf/d, the company said.The company reported average daily net sales for natural gas liquids at 77,000 b/d, up from 47,000 b/d a year earlier, it added.Crescent Energy said it has achieved about $120 million in cost savings to date from its Permian integration, ahead of its original target.The company drilled 38 operated wells in Q1 and brought 37 wells online, while capital expenditures reached $385 million for the quarter, it said.Crescent Energy completed two Eagle Ford mineral acquisitions totaling about $355 million in Q1 2026, expanding its portfolio with additional exposure to undeveloped resources.

$CRGY
Asia

Liu Chong Hing Investment Redesignates CEO, Names Co-CEOs

Liu Chong Hing Investment (HKG:0194) named Tsang Tin For as co-chief executive officer, effective Monday, according to a same-day Hong Kong bourse filing.Following Tsang's appointment, CEO Liu Lit Chi, who also serves as board chairman, was redesignated to co-chief executive officer, the property investment and development company said in the filing. Liu remains the chairman of the board after his redesignation.

$HKG:0194