RioCan Real Estate Investment Trust T.REI.UN

Q2 86.8% Rent collected..... Net LOSS of $350M ??

[RagingBull3]

Can someone explain why there was a Net Loss of $350 million reported in Q2 if 86.8% rents collected?  

https://stockhouse.com/news/press-releases/2020/07/29/riocan-announces-second-quarter-results-for-2020

[thenewsnake]

Write down. All REITS wrote down some retail properties.

[RagingBull3]

Thought that properties were Depreciated every year already.   So 10 yr old building would have 10 years of depreciation already.   ????    When Sold, usually you would have a Gain and that's why FFO is used as better measure of Cash Flow (operating performance)??? Depreciation on top of Depreciation???

[CANCDN]

OMG, so many newbs on here. Its based on CAP RATE. If your cap rate drops due to abated rent, you have to depreciate the property. This isnt like a business depresciating a truck.