RioCan Real Estate Investment Trust (TSE:REI.UN) Issues Earnings Results

RioCan Real Estate Investment Trust (TSE:REI.UN) released its quarterly earnings data on Tuesday. The real estate investment trust reported C$0.52 earnings per share (EPS) for the quarter, FiscalAI reports. RioCan Real Estate Investment Trust had a net margin of 4.86% and a return on equity of 0.78%. The firm had revenue of C$304.36 million for the quarter.

RioCan Real Estate Investment Trust Trading Down 1.8%

Shares of REI.UN opened at C$21.79 on Wednesday. The stock has a market capitalization of C$6.34 billion, a PE ratio of 26.25 and a beta of 0.95. The company’s fifty day moving average is C$22.61 and its 200 day moving average is C$21.01. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. RioCan Real Estate Investment Trust has a fifty-two week low of C$17.51 and a fifty-two week high of C$23.25.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on REI.UN shares. Royal Bank Of Canada raised 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. Desjardins boosted their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. BMO Capital Markets increased their price objective on shares of 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. Raymond James Financial raised their price objective on 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, May 6th. Finally, National Bank Financial lifted their target price on RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$23.68.

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.