RioCan reports Q4 profit edges higher, funds from operations rise

TORONTO — RioCan Real Estate Investment Trust reported a profit of $150.8 million in its latest quarter, up from $149.2 million in the same quarter a year earlier.

The trust says the profit amounted to 48 cents per diluted unit for the quarter ended Dec. 31, down from 49 cents per diluted unit in the fourth quarter of 2018 when it had fewer units outstanding.

RioCan’s funds from operations totalled $146.1 million or 46 cents per unit for the quarter ended Dec. 31.

The result compared with funds from operations of $138.4 million or 45 cents per unit in the last three months of 2018.

RioCan owns, manages and develops retail-focused and increasingly mixed-use properties in Canada’s major markets.

The trust had 220 properties at Dec. 31, including 14 development properties.

This report by the Canadian Press was first published Feb. 20, 2020.

Companies in this story: (TSX:REI.UN)

The Canadian Press