RioCan third-quarter FFO up 14 percent

Mon Nov 7, 2011 8:22am EST
 
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(Reuters) - RioCan Real Estate Investment Trust (REI_u.TO: Quote) reported a 14 percent rise in quarterly funds from operations, helped partly by gains from better valuation of its properties.

The FFO, a key measure of profitability for real estate companies, rose to C$97 million, or 37 Canadian cents a unit, in the third quarter from C$85 million, or 35 Canadian cents a unit, a year earlier.

The REIT said net income rose by C$112 million to C$168 million from last year.

Units of the Toronto-based company closed at C$24.92 on Friday on the Toronto Stock Exchange.

(Reporting by Maneesha Tiwari in Bangalore; Editing by Maju Samuel)