RioCan Real Estate Investment Trust (TSE:REI.UN) Receives C$23.81 Consensus Target Price from Analysts

RioCan Real Estate Investment Trust (TSE:REI.UN) has received a consensus rating of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is C$23.81.

A number of research analysts have issued reports on the stock. Canaccord Genuity Group upped their target price on shares of RioCan Real Estate Investment Trust from C$21.50 to C$22.50 and gave the company a “hold” rating in a report on Thursday, August 6th. Desjardins raised their price target on RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Scotia upped their price objective 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. Finally, Royal Bank Of Canada raised their target price on shares of RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th.

RioCan Real Estate Investment Trust Stock Performance

RioCan Real Estate Investment Trust stock opened at C$20.86 on Monday. RioCan Real Estate Investment Trust has a fifty-two week low of C$18.06 and a fifty-two week high of C$23.25. The company has a market capitalization of C$6.06 billion, a price-to-earnings ratio of 24.26 and a beta of 0.89. The stock has a fifty day moving average of C$22.03 and a two-hundred day moving average of C$21.25. 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 (TSE:REI.UN) last issued its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported C$0.52 earnings per share (EPS) 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%.

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.