RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$23.75 at Raymond James Financial

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target hoisted by investment analysts at Raymond James Financial from C$23.25 to C$23.75 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Raymond James Financial’s price target suggests a potential upside of 8.40% from the company’s current price.

A number of other equities analysts also recently weighed in on REI.UN. National Bank Financial lifted their target price on shares of RioCan Real Estate Investment Trust from C$22.75 to C$24.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Royal Bank Of Canada lifted their target price on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Monday, February 23rd. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, RioCan Real Estate Investment Trust has a consensus rating of “Moderate Buy” and a consensus price target of C$22.33.

RioCan Real Estate Investment Trust Trading Up 1.2%

Shares of REI.UN stock traded up C$0.25 during trading hours on Wednesday, hitting C$21.91. 346,609 shares of the company’s stock traded hands, compared to its average volume of 768,040. The stock’s 50 day simple moving average is C$19.92 and its 200 day simple moving average is C$19.37. The stock has a market cap of C$6.37 billion, a PE ratio of 95.26 and a beta of 0.87. RioCan Real Estate Investment Trust has a 12 month low of C$16.73 and a 12 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.

RioCan Real Estate Investment Trust (TSE:REI.UN) last released its quarterly earnings results on Monday, May 4th. The real estate investment trust reported C$0.32 earnings per share (EPS) for the quarter. The firm had revenue of C$322.31 million during 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.