RioCan Real Estate Investment Trust (TSE:REI.UN) Given New C$24.00 Price Target at TD

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective boosted by TD from C$23.00 to C$24.00 in a report issued on Wednesday morning,BayStreet.CA reports. TD currently has a buy rating on the real estate investment trust’s stock.

REI.UN has been the subject of a number of other reports. Scotia boosted their price objective on shares of RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the stock a “sector perform” rating in a report on Wednesday. Raymond James Financial increased their price objective on shares of RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the company an “outperform” rating in a report on Wednesday. National Bank Financial increased their price target on shares of 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. Desjardins increased their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Royal Bank Of Canada raised their target price on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Monday, February 23rd. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$23.39.

RioCan Real Estate Investment Trust Stock Up 0.8%

REI.UN opened at C$21.83 on Wednesday. The company has a market cap of C$6.36 billion, a P/E ratio of 26.30 and a beta of 0.87. The business’s 50-day moving average price is C$19.96 and its 200-day moving average price is C$19.39. The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37. RioCan Real Estate Investment Trust has a 12 month low of C$16.73 and a 12 month high of C$22.10.

RioCan Real Estate Investment Trust (TSE:REI.UN) last posted its earnings results on Monday, May 4th. The real estate investment trust reported C$0.32 earnings per share (EPS) for the quarter. The company had revenue of C$322.31 million for 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 News Summary

Here are the key news stories impacting RioCan Real Estate Investment Trust this week:

• Positive Sentiment: Multiple broker upgrades and higher targets — Desjardins raised its target to C$24.00 and kept a “buy” rating (?10% upside). Desjardins Rating
• Positive Sentiment: TD increased its target to C$24.00 and maintained a “buy” rating (?10% upside). TD Rating
• Positive Sentiment: National Bank Financial nudged its target to C$24.25 and stayed “outperform” (?11% upside). National Bank Rating
• Positive Sentiment: Raymond James raised its target to C$23.75 and kept an “outperform” call (?8.8% upside). Raymond James Rating
• Positive Sentiment: BMO bumped its target to C$23.50 and stayed “outperform” (?7.7% upside). BMO Rating
• Positive Sentiment: Strong Q1 operational results — RioCan reported record 25.8% blended leasing spreads and commercial same?property NOI growth of 4.7%, reinforcing the upbeat analyst revisions. Q1 Results
• Neutral Sentiment: Scotia raised its target to C$22.25 but kept a “sector perform” rating (only ?2% upside), a more cautious view relative to other firms. Scotia Rating (BayStreet) Scotia Rating (TickerReport)
• Negative Sentiment: Balance?sheet/liquidity considerations remain — RioCan shows high leverage and low short?term liquidity (reported debt?to?equity ~95.4% and tight current/quick ratios), which could temper investor appetite despite operational momentum. Balance Sheet Context

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.