RioCan Real Estate Investment Trust (TSE:REI.UN) Hits New 52-Week High – Here’s What Happened

RioCan Real Estate Investment Trust (TSE:REI.UN) shares hit a new 52-week high on Thursday . The company traded as high as C$22.95 and last traded at C$22.59, with a volume of 399435 shares trading hands. The stock had previously closed at C$22.77.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on REI.UN shares. Raymond James Financial lifted their target price 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 note on Wednesday, May 6th. National Bank Financial lifted their target price on shares of 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. Desjardins lifted their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada lifted their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, TD boosted their price objective on shares of RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$23.68.

RioCan Real Estate Investment Trust Price Performance

The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08. The firm’s 50 day moving average is C$21.27 and its 200 day moving average is C$19.92. The firm has a market cap of C$6.58 billion, a P/E ratio of 27.22 and a beta of 0.94.

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

RioCan Real Estate Investment Trust Company Profile

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.