RioCan Real Estate Investment Trust (TSE:REI.UN) Hits New 12-Month High – What’s Next?

RioCan Real Estate Investment Trust (TSE:REI.UN) shares hit a new 52-week high on Thursday . The stock traded as high as C$22.95 and last traded at C$22.59, with a volume of 399435 shares. The stock had previously closed at C$22.77.

Analyst Ratings Changes

Several research analysts have weighed in on REI.UN shares. TD upped their target price 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 report on Wednesday, May 6th. National Bank Financial upped their target price on shares of RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Raymond James Financial upped their price target 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, May 6th. Desjardins upped 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. Finally, Scotia upped their price target 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 report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$23.68.

RioCan Real Estate Investment Trust Stock Up 2.3%

The company has a market cap of C$6.74 billion, a PE ratio of 27.90 and a beta of 0.94. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37. The firm’s fifty day simple moving average is C$21.42 and its 200-day simple moving average is C$19.97.

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