RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$21.75

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target upped by Raymond James Financial from C$21.50 to C$21.75 in a research report released on Monday,BayStreet.CA reports. They currently have an outperform rating on the real estate investment trust’s stock.

A number of other brokerages have also weighed in on REI.UN. BMO Capital Markets upped their target price on RioCan Real Estate Investment Trust from C$20.00 to C$21.00 in a research report on Wednesday, November 19th. National Bank Financial boosted their price target on shares of RioCan Real Estate Investment Trust from C$22.50 to C$22.75 and gave the company an “outperform” rating in a research note on Friday, February 20th. Finally, Royal Bank Of Canada raised their price objective on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 and gave the company an “outperform” rating in a research note on Monday. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, RioCan Real Estate Investment Trust presently has an average rating of “Moderate Buy” and an average target price of C$21.00.

RioCan Real Estate Investment Trust Stock Up 0.3%

RioCan Real Estate Investment Trust stock opened at C$19.75 on Monday. The company has a market capitalization of C$5.83 billion, a PE ratio of 89.77 and a beta of 1.05. RioCan Real Estate Investment Trust has a 12-month low of C$15.46 and a 12-month high of C$20.23. The firm’s fifty day moving average is C$19.40 and its 200 day moving average is C$18.93. 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 posted its quarterly earnings results on Tuesday, February 17th. The real estate investment trust reported C$0.43 earnings per share for the quarter. RioCan Real Estate Investment Trust had a net margin of 4.86% and a return on equity of 0.78%. The firm had revenue of C$347.92 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.