RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$24.00

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target hoisted by National Bank Financial from C$22.75 to C$24.00 in a research report sent to investors on Monday,BayStreet.CA reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

Several other equities research analysts have also issued reports on the stock. Raymond James Financial increased their target price on shares of RioCan Real Estate Investment Trust from C$21.50 to C$21.75 and gave the stock an “outperform” rating in a report on Monday, February 23rd. Royal Bank Of Canada increased 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 report on Monday, February 23rd. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, RioCan Real Estate Investment Trust currently has an average rating of “Moderate Buy” and an average target price of C$21.03.

RioCan Real Estate Investment Trust Trading Down 0.4%

RioCan Real Estate Investment Trust stock opened at C$20.93 on Monday. The firm has a 50 day moving average of C$19.70 and a 200 day moving average of C$19.25. The firm has a market capitalization of C$6.15 billion, a price-to-earnings ratio of 91.00 and a beta of 0.81. RioCan Real Estate Investment Trust has a 12-month low of C$16.73 and a 12-month high of C$21.67. The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37.

RioCan Real Estate Investment Trust (TSE:REI.UN) last released its earnings results on Tuesday, February 17th. The real estate investment trust reported C$0.43 earnings per share (EPS) for the quarter. The company had revenue of C$347.92 million during the quarter. RioCan Real Estate Investment Trust had a net margin of 4.86% and a return on equity of 0.78%.

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.