Financial RatingThe target price is set at $20.00, and RioCan REIT continues to be rated a BUY.
Leasing ActivityLeasing activity in the quarter comprised 665,000 sf of renewals at leasing spreads of 10.7% and 489,000 sf of new leases, totaling 1.2 million sf, leading to an improvement in occupancy to 97.5%.
Portfolio PerformanceThe commercial and rental residential portfolios are performing well, and the outlook remains favorable given current demand/supply dynamics.