RioCan Real Estate Investment Trust (TSE:REI.UN) Receives C$23.68 Average Target Price from Brokerages

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

Several research firms recently commented on REI.UN. Desjardins lifted their price target on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. TD lifted their price target on RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. BMO Capital Markets lifted their price target on RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Scotia lifted their price target on RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the stock a “sector perform” rating in a research report on Wednesday, May 6th. Finally, Raymond James Financial lifted their price target on RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th.

RioCan Real Estate Investment Trust Trading Down 0.3%

REI.UN opened at C$22.08 on Friday. The firm has a market cap of C$6.43 billion, a P/E ratio of 26.60 and a beta of 0.87. RioCan Real Estate Investment Trust has a 12 month low of C$17.11 and a 12 month high of C$22.25. 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 stock has a 50-day moving average of C$20.68 and a 200 day moving average of C$19.70.

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 EPS for the quarter. The company had revenue of C$322.31 million during 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.