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

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

REI.UN has been the topic of several recent analyst reports. Royal Bank Of Canada upped their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Scotia boosted their target price on RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the company a “sector perform” rating in a research report on Wednesday, May 6th. Raymond James Financial upped 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 note on Wednesday, May 6th. TD raised 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. Finally, National Bank Financial lifted their price objective on RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the company an “outperform” rating in a research note on Wednesday, May 6th.

RioCan Real Estate Investment Trust Trading Down 0.7%

TSE REI.UN traded down C$0.15 during trading hours on Friday, reaching C$22.50. The company had a trading volume of 463,554 shares, compared to its average volume of 724,875. The stock has a 50-day moving average of C$22.29 and a 200 day moving average of C$20.57. RioCan Real Estate Investment Trust has a 1-year low of C$17.49 and a 1-year 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. The stock has a market capitalization of C$6.55 billion, a P/E ratio of 27.11 and a beta of 0.95.

RioCan Real Estate Investment Trust (TSE:REI.UN) last announced its earnings results on Monday, May 4th. The real estate investment trust reported C$0.32 earnings per share for the quarter. RioCan Real Estate Investment Trust had a net margin of 4.86% and a return on equity of 0.78%. The company had revenue of C$322.31 million during the quarter.

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.