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

RioCan Real Estate Investment Trust (TSE:REI.UN) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$20.09 and last traded at C$20.09, with a volume of 580291 shares. The stock had previously closed at C$19.91.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on REI.UN shares. National Bankshares lifted their price objective on shares of RioCan Real Estate Investment Trust from C$19.75 to C$21.50 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. BMO Capital Markets raised their price target on RioCan Real Estate Investment Trust from C$20.00 to C$21.00 in a research note on Wednesday, November 19th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, RioCan Real Estate Investment Trust has an average rating of “Moderate Buy” and an average price target of C$20.61.

RioCan Real Estate Investment Trust Stock Up 0.3%

The firm’s 50-day moving average price is C$18.71 and its two-hundred day moving average price is C$18.50. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. The firm has a market cap of C$5.89 billion, a PE ratio of 90.77 and a beta of 1.09.

RioCan Real Estate Investment Trust (TSE:REI.UN) last announced its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported C($0.41) EPS for the quarter. RioCan Real Estate Investment Trust had a return on equity of 0.78% and a net margin of 4.86%.The company had revenue of C$371.17 million for the quarter.

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.