RioCan Real Estate Investment Trust (REI_UN.TO) on Friday posted a net loss of $120.34 million or $0.41 per unit for the third quarter ended September 30, 2025, compared with a net income of $96.86 million or $0.32 per unit in the same period last year. The decline was mainly due to significant fair value losses on investment properties and a negative contribution from equity-accounted investments.
The company recorded a $148.22 million fair value loss on investment properties, higher than $40.49 million loss last year, and a $39.08 million loss from equity-accounted investments compared with a gain of $15.71 million a year ago.
FFO per unit remained flat at $0.46.
Operating income rose to $197.45 million from $182.87 million a year earlier.
For the quarter, revenue rose to $371.17 million from $286.34 million last year. Rental revenue increased to $293.36 million, from $279.56 million, while residential inventory sales surged to $74.87 million from $1.48 million. Property management and other service fees, however, declined to $2.94 million from $5.30 million.
For the full year, the company continues to expect FFO per unit in the range of $1.85 to $1.88.
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