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RioCan Real Estate Investment Trust (TSE:REI.UN)
TSX:REI.UN
Holding TSE:REI.UN?
Track your performance easily
Earnings Data
Report Date
Feb 18, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
-0.39Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2018
|% Change Since: -2.56%
|Next Earnings Date:Aug 08, 2018
Earnings Call Sentiment|Neutral
The earnings call highlighted strong leasing activity and high occupancy rates, alongside successful financial management and sustainability achievements. However, it also addressed challenges such as temporary vacancies impacting NOI growth and workforce restructuring. The overall sentiment is balanced with positive long-term growth prospects but immediate operational challenges.Company Guidance
During the RioCan Real Estate Investment Trust Q3 2024 earnings call, the company provided guidance on several key metrics. The President and CEO, Jonathan Gitlin, highlighted a strong leasing performance with approximately 1.3 million square feet of leases finalized, including 251,000 square feet of new leases at an average net rent of $24.51, which is 11% higher than the company's average net rent. Committed and retail occupancy rates reached record highs of 97.8% and 98.6%, respectively. The blended leasing spread for the quarter was 14.2%, with renewals at 12.6% and new leases at 24.2%. The call also noted that RioCan's financing activities have improved their balance sheet, with a net debt-to-EBITDA target range of 8 to 9x expected by year-end. Additionally, the company achieved an FFO of $0.46 per unit for the quarter, with guidance indicating an adjustment due to a restructuring charge. The company's strategic focus remains on responsible growth, with a shift away from new construction and a focus on deleveraging and asset monetization, including the sale of the Strada residential property at a 6% premium over its IFRS carrying value.Record Leasing Activity
Finalized approximately 1.3 million square feet of leases, including 251,000 square feet of new leases. The average net rent of new leases was $24.51, which is 11% higher than RioCan's average net rent.
High Occupancy Rates
Committed and retail occupancy reached record highs of 97.8% and 98.6%, respectively, in the quarter.
GRESB Assessment Success
Achieved #1 ranking in the recent GRESB assessment among peers, reaffirming the commitment to responsible growth, sustainability, and ethical governance.
FFO Growth
Funds From Operations (FFO) for the third quarter was $0.46 per unit, up from $0.45 per unit in the prior year quarter.
Debt Management
Net debt to EBITDA improved to 9.1x, down from 9.3x at the end of 2023. Raised $1.05 billion in financing at a 4.5% weighted average interest rate with a 6.4 year weighted average term.
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RioCan Real Estate Investment (TSE:REI.UN) Earnings, Revenues Date & History
TSE:REI.UN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:REI.UN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 11, 2024 | C$18.78 | C$18.78 | 0.00% |
| Aug 08, 2024 | C$17.05 | C$17.11 | +0.34% |
| May 07, 2024 | C$16.94 | C$16.96 | +0.11% |
| Feb 14, 2024 | C$16.93 | C$17.43 | +3.01% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does RioCan Real Estate Investment Trust (TSE:REI.UN) report earnings?
RioCan Real Estate Investment Trust (TSE:REI.UN) is schdueled to report earning on Feb 18, 2025, TBA Not Confirmed.
What is RioCan Real Estate Investment Trust (TSE:REI.UN) earnings time?
RioCan Real Estate Investment Trust (TSE:REI.UN) earnings time is at Feb 18, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:REI.UN EPS forecast?
Currently, no data Available
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