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- calendar_today November 3, 2026
RioCan Turns a Profit in Third Quarter of 2026
RioCan Real Estate Investment Trust posted a net income of $122.6 million for the third quarter of 2026, marking a significant turnaround from the $120.3 million loss reported in the same period last year.
Revenue and Diluted Income Figures
The company's diluted net income per unit rose to 42 cents, compared to a diluted loss of 41 cents per unit in the previous year. Revenue for the period ended September 30 reached $304.8 million, which is a decline from $371.2 million in last year’s third quarter.
Retail Occupancy Reaches Record High
RioCan reported that its retail committed occupancy has achieved a record 98.9 per cent, up from 98.4 per cent in the third quarter of 2025. This improvement underscores the company’s success in maintaining high tenant retention despite broader market challenges.
Factors Driving the Quarterly Performance
Jonathan Gitlin, CEO of RioCan, highlighted strong tenant demand, record retail occupancy, and limited new supply as key contributors to the company’s earnings growth and positive leasing economics. These factors played a significant role in the improved financial performance for the quarter.
Year-Over-Year Comparison
While RioCan’s net income showed considerable improvement, the revenue decline reflects shifts within the real estate trust's operations. The period was notable for record occupancy rates and a rebound in profit metrics compared to the loss experienced in 2025.
About RioCan
RioCan continues to be a prominent real estate investment trust (TSX:REI.UN), focusing on retail property management and leasing. The company’s quarterly results are watched closely as an indicator of trends in retail property occupancy and tenant demand within Canada.
Source: halifax.citynews.ca.
