RioCan Real Estate Investment Trust raises monthly distributions, reports Q4 loss

RioCan Real Estate Investment Trust raised its payment to unitholders as it reported a loss of $5 million in its fourth quarter.

The real estate trust says it will now pay a monthly distribution of nine cents per unit, up from 8.5 cents.

The new payment rate came as RioCan says it lost two cents per unit for the quarter ended Dec. 31 compared with a profit of $208.8 million or 66 cents per unit in the last three months of 2021.

Revenue totalled $306.2 million, down from $336.4 million a year earlier.