RioCan Real Estate Investment Trust (TSE:REI.UN) Receives C$23.68 Average PT from Analysts

RioCan Real Estate Investment Trust (TSE:REI.UN) has earned an average rating of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is C$23.68.

REI.UN has been the topic of a number of research reports. TD lifted their price target on shares of RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. BMO Capital Markets increased their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Scotia raised their target price on RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the stock a “sector perform” rating in a research report on Wednesday, May 6th. National Bank Financial boosted their target price on RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Finally, Raymond James Financial upped their price target on RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the company an “outperform” rating in a research report on Wednesday, May 6th.

RioCan Real Estate Investment Trust Price Performance

Shares of TSE:REI.UN opened at C$22.61 on Friday. The company has a market capitalization of C$6.58 billion, a P/E ratio of 27.24 and a beta of 0.95. The company’s 50-day moving average is C$22.33 and its 200 day moving average is C$20.64. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. RioCan Real Estate Investment Trust has a fifty-two week low of C$17.49 and a fifty-two week high of C$23.25.

RioCan Real Estate Investment Trust (TSE:REI.UN) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported C$0.32 earnings per share (EPS) for the quarter. RioCan Real Estate Investment Trust had a net margin of 4.86% and a return on equity of 0.78%. The business had revenue of C$322.31 million during the quarter.

About RioCan Real Estate Investment Trust

Riocan Real Estate Investment Trust is a Canadian real estate investment trust which owns, develops, and operates Canada’s portfolio of retail-focused, increasingly mixed-use properties. The REIT’s property portfolio includes shopping centers and mixed-use developments, with most of its properties located in Ontario, Canada. Riocan’s tenants consist of grocery stores, supermarkets, restaurants, cinemas, pharmacies, and corporates. By geography, the company operates in Canada, which generates the majority of total revenue, and in the United States.