RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$22.50

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target hoisted by equities research analysts at Canaccord Genuity Group from C$21.50 to C$22.50 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 4.80% from the company’s current price.

A number of other brokerages also recently commented on REI.UN. BMO Capital Markets lifted their target price on 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. Scotia increased their price target on RioCan Real Estate Investment Trust from C$22.25 to C$22.50 and gave the stock a “sector perform” rating in a research report on Thursday. National Bank Financial raised their price target on RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. TD boosted their price objective on RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Desjardins upped their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, RioCan Real Estate Investment Trust presently has an average rating of “Moderate Buy” and an average target price of C$23.69.

RioCan Real Estate Investment Trust Stock Performance

Shares of REI.UN stock traded down C$0.48 on Thursday, hitting C$21.47. 653,362 shares of the stock traded hands, compared to its average volume of 711,006. The company’s fifty day moving average is C$22.60 and its 200 day moving average is C$21.02. RioCan Real Estate Investment Trust has a 1-year low of C$17.51 and a 1-year high of C$23.25. The company has a market capitalization of C$6.25 billion, a PE ratio of 25.87 and a beta of 0.95. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08.

RioCan Real Estate Investment Trust (TSE:REI.UN) last issued its earnings results on Tuesday, August 4th. The real estate investment trust reported C$0.52 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 company had revenue of C$304.36 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.