RioCan REIT Q2 net income rises by almost 43 per cent from last year

-based real estate company says net income for the period ended June 30 amounted to $112-million, up from $78.5-million a year ago.

It attributed the large increase to lower fair value losses on investment properties in the latest quarter.Funds from operations totalled $131.6-million, or 44 cents per diluted unit, a slight decrease from $131.7-million a year ago, or 43 cents per diluted unit. RioCan blamed the small drop in funds from operations per unit on lower residential inventory gains and lower lease cancellation fees.

RioCan’s committed occupancy rate for the quarter was 97.4 per cent, up from 97.2 per cent a year ago.Checking box will enable automatic data updates.

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