RioCan Real Estate Investment Trust (TSE:REI.UN) Receives Consensus Rating of “Moderate Buy” from Brokerages

RioCan Real Estate Investment Trust (TSE:REI.UN) has received an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have 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 issued a report on the stock in the last year is C$23.81.

A number of brokerages recently weighed in on REI.UN. BMO Capital Markets boosted their price target on shares of RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Desjardins lifted their price objective on shares of RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Scotia boosted their target price on shares of RioCan Real Estate Investment Trust from C$22.25 to C$22.50 and gave the company a “sector perform” rating in a research note on Thursday, August 6th. Royal Bank Of Canada boosted their target price on shares of RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Finally, TD raised their price target 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.

RioCan Real Estate Investment Trust Stock Performance

Shares of REI.UN opened at C$21.54 on Thursday. The stock has a 50 day moving average of C$22.55 and a 200 day moving average of C$21.09. The company has a market capitalization of C$6.26 billion, a price-to-earnings ratio of 25.05 and a beta of 0.95. RioCan Real Estate Investment Trust has a 12 month low of C$17.71 and a 12 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.

RioCan Real Estate Investment Trust (TSE:REI.UN) last posted its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported C$0.52 earnings per share for the quarter. The business had revenue of C$304.36 million for the quarter. RioCan Real Estate Investment Trust had a return on equity of 0.78% and a net margin of 4.86%.

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.