RioCan Real Estate Investment Trust (TSE:REI.UN) Hits New 52-Week High – Here’s What Happened

RioCan Real Estate Investment Trust (TSE:REI.UN)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$22.10 and last traded at C$22.03, with a volume of 95704 shares changing hands. The stock had previously closed at C$21.96.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. TD upped their target price on shares of RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. BMO Capital Markets upped their target price on shares of RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada upped their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Scotia upped their target price on shares of RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the company a “sector perform” rating in a research note on Wednesday, May 6th. Finally, Raymond James Financial upped their target price 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 research note on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, RioCan Real Estate Investment Trust has an average rating of “Moderate Buy” and an average price target of C$23.68.

RioCan Real Estate Investment Trust Trading Up 0.6%

The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37. The business’s 50-day moving average is C$20.40 and its two-hundred day moving average is C$19.58. The firm has a market cap of C$6.43 billion, a P/E ratio of 26.63 and a beta of 0.87.

RioCan Real Estate Investment Trust (TSE:REI.UN) last announced its quarterly earnings data on Monday, May 4th. The real estate investment trust reported C$0.32 earnings per share for the quarter. RioCan Real Estate Investment Trust had a net margin of 4.86% and a return on equity of 0.78%. The business had revenue of C$322.31 million during the quarter.

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.