Desjardins Issues Positive Forecast for RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Price

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective boosted by investment analysts at Desjardins from C$24.00 to C$25.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Desjardins’ target price would suggest a potential upside of 16.44% from the stock’s current price.

Other research analysts also recently issued reports about the company. Royal Bank Of Canada upped their price target on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. TD lifted their price target on shares of RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Scotia upped their price objective on shares of RioCan Real Estate Investment Trust from C$22.25 to C$22.50 and gave the stock a “sector perform” rating in a report on Thursday. Raymond James Financial lifted their price objective on shares of RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Finally, Canaccord Genuity Group upped their target price on shares of RioCan Real Estate Investment Trust from C$21.50 to C$22.50 and gave the stock a “hold” rating in a report on Thursday. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, RioCan Real Estate Investment Trust has a consensus rating of “Moderate Buy” and an average target price of C$23.69.

RioCan Real Estate Investment Trust Trading Down 2.2%

REI.UN traded down C$0.48 during trading on Thursday, hitting C$21.47. The company’s stock had a trading volume of 653,362 shares, compared to its average volume of 711,006. The firm has a market capitalization of C$6.25 billion, a P/E ratio of 25.87 and a beta of 0.95. RioCan Real Estate Investment Trust has a twelve month low of C$17.51 and a twelve month high of C$23.25. The stock’s fifty day moving average price is C$22.60 and its 200-day moving average price is C$21.02. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37.

RioCan Real Estate Investment Trust (TSE:REI.UN) last released its earnings results on Tuesday, August 4th. The real estate investment trust reported C$0.52 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 company had revenue of C$304.36 million for the quarter.

RioCan Real Estate Investment Trust Company Profile

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.