RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$21.75

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price upped by investment analysts at Raymond James Financial from C$21.50 to C$21.75 in a report issued on Monday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Raymond James Financial’s target price would suggest a potential upside of 10.46% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on REI.UN. National Bank Financial lifted their target price on shares of RioCan Real Estate Investment Trust from C$22.50 to C$22.75 and gave the stock an “outperform” rating in a research note on Friday. BMO Capital Markets upped their price objective on shares of RioCan Real Estate Investment Trust from C$20.00 to C$21.00 in a research note on Wednesday, November 19th. Finally, Royal Bank Of Canada increased their price objective on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 and gave the company an “outperform” rating in a report on Monday. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, RioCan Real Estate Investment Trust has an average rating of “Moderate Buy” and a consensus target price of C$21.00.

RioCan Real Estate Investment Trust Price Performance

Shares of REI.UN traded up C$0.14 during trading hours on Monday, hitting C$19.69. 633,489 shares of the stock were exchanged, compared to its average volume of 713,855. 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 has a 12-month low of C$15.46 and a 12-month high of C$20.23. The company has a market cap of C$5.81 billion, a price-to-earnings ratio of 89.50 and a beta of 1.05. The stock’s 50-day moving average price is C$19.32 and its two-hundred day moving average price is C$18.89.

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.