RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$24.00

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price lifted by research analysts at Desjardins from C$22.00 to C$24.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Desjardins’ target price suggests a potential upside of 9.54% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Raymond James Financial lifted their target price on RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the company an “outperform” rating in a research report on Wednesday. Royal Bank Of Canada lifted their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 and gave the company an “outperform” rating in a research note on Monday, February 23rd. Finally, National Bank Financial lifted their price objective on RioCan Real Estate Investment Trust from C$22.75 to C$24.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$22.33.

RioCan Real Estate Investment Trust Trading Up 1.2%

TSE REI.UN traded up C$0.25 during trading on Wednesday, hitting C$21.91. The stock had a trading volume of 346,609 shares, compared to its average volume of 768,040. The company has a market capitalization of C$6.37 billion, a PE ratio of 95.26 and a beta of 0.87. 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 has a 50 day moving average price of C$19.92 and a 200 day moving average price of C$19.37. RioCan Real Estate Investment Trust has a twelve month low of C$16.73 and a twelve month high of C$22.10.

RioCan Real Estate Investment Trust (TSE:REI.UN) last released its earnings results on Monday, May 4th. The real estate investment trust reported C$0.32 earnings per share for the quarter. The company 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%.

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.