Analysts Set RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target at C$23.68

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is C$23.68.

A number of equities research analysts have recently weighed in on REI.UN shares. TD boosted their price target on RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. BMO Capital Markets boosted their price target on RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Scotia boosted their price target on RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the company a “sector perform” rating in a 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 report on Wednesday, May 6th. Finally, National Bank Financial boosted their price target on RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the company an “outperform” rating in a report on Wednesday, May 6th.

RioCan Real Estate Investment Trust Price Performance

Shares of TSE REI.UN opened at C$22.75 on Tuesday. RioCan Real Estate Investment Trust has a twelve month low of C$17.35 and a twelve month high of C$23.25. The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37. The company has a market capitalization of C$6.62 billion, a price-to-earnings ratio of 27.41 and a beta of 0.94. The business has a 50 day simple moving average of C$21.71 and a 200-day simple moving average of C$20.10.

RioCan Real Estate Investment Trust (TSE:REI.UN) last issued its quarterly earnings results on Monday, May 4th. The real estate investment trust reported C$0.32 earnings per share for the quarter. RioCan Real Estate Investment Trust had a return on equity of 0.78% and a net margin of 4.86%.The business had revenue of C$322.31 million during 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.