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RioCan Real Estate Investment Trust Reports Higher Q2 Income

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RioCan Real Estate Investment Trust (REI-UN.TO) reported Q2 net income of C$0.52 per share from C$0.49 a year ago.

Revenue for the quarter ended June 30 was C$304.4 million from C$361.7 million a year earlier.

Core funds from operations rose to C$115.3 million, or C$0.40, from C$111.3 million, or C$0.38.

"Our second-quarter results reinforce that RioCan's strategy is working. We continue to execute against our Investor Day priorities, unlocking embedded growth across our portfolio and creating value through disciplined leasing, active asset management, and strategic capital allocation," chief executive Jonathan Gitlin said in a release.

The REIT's units closed down C$0.39, or 1.8%, to C$21.79 Tuesday on the Toronto Stock Exchange.

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