RioCan Real Estate Investment Trust (TSE:REI.UN) Updates FY 2024 Earnings Guidance

RioCan Real Estate Investment Trust (TSE:REI.UN) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 1.790-1.820 for the period. The company issued revenue guidance of -.

RioCan Real Estate Investment Trust Stock Performance

Shares of REI.UN stock opened at C$17.53 on Monday. RioCan Real Estate Investment Trust has a 1-year low of C$16.26 and a 1-year high of C$19.93. The company has a current ratio of 0.26, a quick ratio of 0.08 and a debt-to-equity ratio of 93.99. The company has a market capitalization of C$5.27 billion, a price-to-earnings ratio of 103.12 and a beta of 1.30. The stock’s fifty day simple moving average is C$17.26 and its 200-day simple moving average is C$17.74.

Analyst Upgrades and Downgrades

REI.UN has been the topic of a number of recent research reports. TD Securities lowered their target price on RioCan Real Estate Investment Trust from C$22.00 to C$21.00 in a research note on Wednesday, April 24th. National Bankshares cut their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$20.50 and set an outperform rating for the company in a research report on Wednesday, April 24th. Finally, Scotiabank cut RioCan Real Estate Investment Trust from an outperform rating to a sector perform rating and cut their price objective for the stock from C$22.50 to C$20.50 in a research report on Tuesday, May 14th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of C$20.86.

RioCan Real Estate Investment Trust Company Profile

RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at December 31, 2023, our portfolio is comprised of 188 properties with an aggregate net leasable area of approximately 32.6 million square feet (at RioCan’s interest) including office, residential rental and 9 development properties.