TORONTO — RioCan Real Estate Investment Trust reported a net loss in its latest quarter as it wrote down the value of some investments along with its joint venture with HBC.

The trust said it lost $120.3 million for the quarter ending Sept. 30, compared with a profit of $96.9 million in the same quarter a year earlier.

The loss came as it recognized $242.8 million in net valuation losses in the quarter, consisting of $148.2 million on investment properties and $94.6 million on its joint venture with HBC.

RioCan says the results worked out to a net loss of 41 cents per unit, compared with earnings of 32 cents per unit last year.

Funds from operations per unit was unchanged from last year at 46 cents each.

Revenue totalled $371.2 million, up from $286.3 million in the quarter last year.

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