Brokerages Set RioCan Real Estate Investment Trust (TSE:REI.UN) Target Price at C$23.81

RioCan Real Estate Investment Trust (TSE:REI.UN) has earned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$23.81.

REI.UN has been the topic of several analyst reports. National Bank Financial upped their price objective 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. BMO Capital Markets raised their target price on RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Raymond James Financial boosted 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 note on Wednesday, May 6th. Desjardins upped their price target on RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada increased their price objective on RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th.

RioCan Real Estate Investment Trust Price Performance

Shares of RioCan Real Estate Investment Trust stock opened at C$20.65 on Monday. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. The firm’s 50-day simple moving average is C$22.12 and its 200-day simple moving average is C$21.25. RioCan Real Estate Investment Trust has a twelve month low of C$18.06 and a twelve month high of C$23.25. The firm has a market cap of C$6.00 billion, a P/E ratio of 24.01 and a beta of 0.95.

RioCan Real Estate Investment Trust (TSE:REI.UN) last posted its earnings results on Tuesday, August 4th. The real estate investment trust reported C$0.52 earnings per share for the quarter. The business had revenue of C$304.36 million for the quarter. RioCan Real Estate Investment Trust had a net margin of 4.86% and a return on equity of 0.78%.

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.