RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective lifted by equities researchers at Royal Bank Of Canada from C$21.00 to C$22.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 11.73% from the stock’s previous close.

Several other brokerages have also recently weighed in on REI.UN. National Bank Financial raised their price objective on RioCan Real Estate Investment Trust from C$22.50 to C$22.75 and gave the company an “outperform” rating in a report on Friday. BMO Capital Markets increased their price target on RioCan Real Estate Investment Trust from C$20.00 to C$21.00 in a research report on Wednesday, November 19th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$21.00.

RioCan Real Estate Investment Trust Stock Up 0.7%

RioCan Real Estate Investment Trust stock traded up C$0.14 during mid-day trading on Monday, reaching C$19.69. The company’s stock had a trading volume of 633,489 shares, compared to its average volume of 713,855. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. RioCan Real Estate Investment Trust has a 12 month low of C$15.46 and a 12 month high of C$20.23. The business’s 50 day simple moving average is C$19.32 and its 200 day simple moving average is C$18.89. The company has a market capitalization of C$5.81 billion, a price-to-earnings ratio of 89.50 and a beta of 1.05.

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.