RioCan Real Estate Investment Trust (TSE:REI.UN) Receives C$23.68 Consensus PT from Analysts

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) have been assigned an average rating of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$23.68.

REI.UN has been the topic of a number of analyst reports. Scotia increased their price objective on RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the company a “sector perform” rating in a research note on Wednesday, May 6th. BMO Capital Markets boosted their target price on shares of 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. Raymond James Financial upped their target price 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. National Bank Financial raised their price target 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 note on Wednesday, May 6th. Finally, Desjardins lifted their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th.

RioCan Real Estate Investment Trust Price Performance

REI.UN stock opened at C$22.94 on Friday. RioCan Real Estate Investment Trust has a 1 year low of C$17.49 and a 1 year high of C$23.25. 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 stock’s 50 day moving average price is C$22.37 and its 200 day moving average price is C$20.70. The firm has a market cap of C$6.68 billion, a P/E ratio of 27.64 and a beta of 0.95.

RioCan Real Estate Investment Trust (TSE:REI.UN) last released its quarterly earnings results on Monday, May 4th. The real estate investment trust reported C$0.32 earnings per share 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$322.31 million during 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.