Scotia Issues Positive Forecast for RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Price

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target hoisted by equities research analysts at Scotia from C$22.25 to C$22.50 in a report issued on Thursday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotia’s price target suggests a potential upside of 4.80% from the company’s previous close.

Several other equities analysts also recently commented on the stock. BMO Capital Markets boosted their target price on shares of 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. Desjardins lifted their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. TD boosted their price target on shares of RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. National Bank Financial increased their price objective on shares of RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Finally, Raymond James Financial raised their price objective on RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$23.69.

RioCan Real Estate Investment Trust Price Performance

Shares of RioCan Real Estate Investment Trust stock traded down C$0.48 during trading hours on Thursday, hitting C$21.47. The company’s stock had a trading volume of 653,362 shares, compared to its average volume of 711,006. The company has a market cap of C$6.25 billion, a PE ratio of 25.87 and a beta of 0.95. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. The business has a 50 day moving average price of C$22.60 and a two-hundred day moving average price of C$21.02. RioCan Real Estate Investment Trust has a 12-month low of C$17.51 and a 12-month high of C$23.25.

RioCan Real Estate Investment Trust (TSE:REI.UN) last issued its earnings results on Tuesday, August 4th. The real estate investment trust reported C$0.52 earnings per share (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$304.36 million for 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.