RioCan Real Estate Investment Trust (TSE:REI.UN) Given Average Rating of “Moderate Buy” by Analysts

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$23.68.

A number of research firms have issued reports on REI.UN. Raymond James Financial increased their price objective on RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. BMO Capital Markets increased their price objective on 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. TD increased their price objective on RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Scotia increased their price objective on RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the stock a “sector perform” rating in a report on Wednesday, May 6th. Finally, Desjardins increased their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th.

RioCan Real Estate Investment Trust Stock Performance

Shares of REI.UN stock opened at C$22.65 on Tuesday. The stock has a fifty day moving average of C$21.77 and a 200 day moving average of C$20.14. RioCan Real Estate Investment Trust has a 52 week low of C$17.35 and a 52 week high of C$23.25. The firm has a market capitalization of C$6.59 billion, a price-to-earnings ratio of 27.29 and a beta of 0.94. 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 announced its quarterly earnings results on Monday, May 4th. The real estate investment trust reported C$0.32 EPS for the quarter. RioCan Real Estate Investment Trust had a return on equity of 0.78% and a net margin of 4.86%.The company had revenue of C$322.31 million during the quarter.

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.