RioCan reports net income of $93.16M in Q1, up from a loss of $84.16M last year

TORONTO - RioCan Real Estate Investment Trust reported net income of $93.16 million during the first quarter.  

The result was up from a loss of $84.16 million during the same period last year. 

That amounted to diluted net income per unit of 32 cents during the period, up from a diluted per unit loss of 28 cents during the prior-year quarter. 

Revenue reached $322.31 million during the three months ended March 31, down year over year from $355.83 million.   

RioCan CEO Jonathan Gitlin says the company is leveraging high-quality assets to capitalize on a leasing supercycle. 

In February, Gitlin stated that the recent financial troubles of retailers like Toys "R" Us and Hudson's Bay were not representative of the wider retail landscape.

This report by The Canadian Press was first published May 4, 2026.

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