RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$22.00 at CIBC

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target hoisted by CIBC from C$21.00 to C$22.00 in a research report released on Wednesday,BayStreet.CA reports.

A number of other analysts also recently commented on the stock. TD Securities increased their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a report on Monday, September 30th. BMO Capital Markets raised their price target on shares of RioCan Real Estate Investment Trust from C$19.00 to C$20.50 in a report on Monday, October 28th. National Bankshares upped their price objective on RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a report on Wednesday, October 9th. Finally, Canaccord Genuity Group raised their target price on RioCan Real Estate Investment Trust from C$20.00 to C$21.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$21.71.

RioCan Real Estate Investment Trust Price Performance

Shares of RioCan Real Estate Investment Trust stock opened at C$19.00 on Wednesday. The stock has a market capitalization of C$5.70 billion, a P/E ratio of 95.00 and a beta of 1.31. The business has a 50 day simple moving average of C$19.69 and a two-hundred day simple moving average of C$18.27. RioCan Real Estate Investment Trust has a 12 month low of C$16.26 and a 12 month high of C$20.83. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08.

About RioCan Real Estate Investment Trust

RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at December 31, 2023, our portfolio is comprised of 188 properties with an aggregate net leasable area of approximately 32.6 million square feet (at RioCan’s interest) including office, residential rental and 9 development properties.