RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$23.50

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price upped by BMO Capital Markets from C$21.00 to C$23.50 in a research report report published on Wednesday morning,BayStreet.CA reports. They currently have an outperform rating on the real estate investment trust’s stock.

Several other analysts have also issued reports on REI.UN. Raymond James Financial boosted their price target 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 research report on Wednesday. National Bank Financial boosted their price target on shares of RioCan Real Estate Investment Trust from C$22.75 to C$24.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Scotia boosted their price target on shares of RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the company a “sector perform” rating in a research report on Wednesday. Royal Bank Of Canada boosted their price target 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 report on Monday, February 23rd. Finally, TD boosted 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. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$23.68.

RioCan Real Estate Investment Trust Stock Up 0.5%

REI.UN opened at C$21.91 on Wednesday. The company’s 50-day moving average price is C$20.00 and its two-hundred day moving average price is C$19.41. RioCan Real Estate Investment Trust has a twelve month low of C$16.91 and a twelve month high of C$22.10. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37. The stock has a market cap of C$6.38 billion, a price-to-earnings ratio of 26.40 and a beta of 0.87.

RioCan Real Estate Investment Trust (TSE:REI.UN) last posted its quarterly earnings results on Monday, May 4th. The real estate investment trust reported C$0.32 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$322.31 million for 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.