RioCan REIT reports Q4 net income of $128.2M, up year-over-year

Westgate Shopping Centre to get massive facelift with five towers. (Riocan)

RioCan Real Estate Investment Trust reported a fourth-quarter profit of $128.2 million.

The result was up from $125.6 million in net income in the same period a year earlier.

RioCan says the profit worked out to 43 cents per unit, up from 42 cents the previous year.

Revenue reached $347.9 million during the period ended Dec. 31, down year-over-year from $357.6 million.

RioCan CEO Jonathan Gitlin says the company is entering 2026 with momentum due to intensifying demand from leading retailers amid a broader market shortage of well-located retail space.

Funds from operations per unit were unchanged from last year at 45 cents.

This report by The Canadian Press was first published Feb. 17, 2026.