RioCan Real Estate Investment Trust (TSE:REI.UN) Issues Earnings Results

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

RioCan Real Estate Investment Trust Price Performance

REI.UN stock traded up C$0.34 during mid-day trading on Monday, reaching C$21.68. 1,178,684 shares of the company traded hands, compared to its average volume of 773,400. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08. The company has a market capitalization of C$6.30 billion, a P/E ratio of 94.26 and a beta of 0.87. RioCan Real Estate Investment Trust has a 52-week low of C$16.73 and a 52-week high of C$21.80. The company has a fifty day moving average price of C$19.88 and a 200-day moving average price of C$19.35.

Wall Street Analyst Weigh In

REI.UN has been the subject of a number of recent analyst reports. Royal Bank Of Canada lifted their target price on 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, February 23rd. Raymond James Financial lifted their target price on RioCan Real Estate Investment Trust from C$21.50 to C$21.75 and gave the company an “outperform” rating in a report on Monday, February 23rd. Finally, National Bank Financial lifted their target price on RioCan Real Estate Investment Trust from C$22.75 to C$24.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$21.03.

RioCan Real Estate Investment Trust Company Profile

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.