RioCan Real Estate Investment Trust (TSE:REI.UN) Hits 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 Friday . The stock traded as high as C$22.10 and last traded at C$22.03, with a volume of 95704 shares traded. The stock had previously closed at C$21.96.

Analyst Upgrades and Downgrades

REI.UN has been the subject of a number of research analyst reports. Scotia upped their price target on shares of RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the stock a “sector perform” rating in a research note on Wednesday, May 6th. BMO Capital Markets increased their price objective 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 report on Wednesday, May 6th. National Bank Financial increased their price objective on shares of RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Raymond James Financial increased their price objective 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. Finally, TD increased their price objective on shares of RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$23.68.

RioCan Real Estate Investment Trust Trading Up 0.6%

The firm has a market capitalization of C$6.43 billion, a price-to-earnings ratio of 26.63 and a beta of 0.87. The firm’s 50 day moving average is C$20.40 and its 200 day moving average is C$19.58. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37.

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 EPS for the quarter. RioCan Real Estate Investment Trust had a net margin of 4.86% and a return on equity of 0.78%. The business had revenue of C$322.31 million during 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.