RioCan Real Estate Investment Trust (TSE:REI.UN) has earned a consensus recommendation of “Buy” from the seven analysts that are currently covering the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is C$29.80.

A number of brokerages recently weighed in on REI.UN. CIBC raised their target price on shares of RioCan Real Estate Investment Trust from C$28.50 to C$29.50 in a report on Tuesday, August 2nd. TD Securities restated a “buy” rating and set a C$31.00 target price on shares of RioCan Real Estate Investment Trust in a report on Friday, November 4th. Canaccord Genuity cut shares of RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and raised their target price for the stock from C$28.50 to C$30.50 in a report on Wednesday, July 27th. Royal Bank Of Canada raised their target price on shares of RioCan Real Estate Investment Trust from C$28.00 to C$30.00 and gave the stock an “outperform” rating in a report on Wednesday, August 3rd. Finally, Raymond James Financial Inc. upgraded shares of RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating in a report on Friday, October 21st.

About RioCan Real Estate Investment Trust

RioCan Real Estate Investment Trust is a Canada-based closed-end real estate investment trust. The Company primarily owns, develops, manages and operates grocery-anchored retail centers and mixed-use developments located in Canada. The Company invests in, develops and manages approximately 300 properties, including shopping centers and mixed-use developments in over six markets in Canada.

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