Canaccord Genuity Group Issues Positive Forecast for RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Price

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price lifted by analysts at Canaccord Genuity Group from C$21.50 to C$22.50 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 4.80% from the company’s previous close.

A number of other research firms have also issued reports on REI.UN. Raymond James Financial boosted their price target 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. 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. Scotia raised their target price on RioCan Real Estate Investment Trust from C$22.25 to C$22.50 and gave the stock a “sector perform” rating in a research report on Thursday. Desjardins upped their price target on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, National Bank Financial raised their price objective on RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$23.69.

RioCan Real Estate Investment Trust Price Performance

Shares of REI.UN traded down C$0.48 during trading hours on Thursday, hitting C$21.47. 653,362 shares of the company were exchanged, compared to its average volume of 711,006. The company has a market capitalization of C$6.25 billion, a PE ratio of 25.87 and a beta of 0.95. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08. The firm has a fifty day simple moving average of C$22.60 and a 200-day simple moving average of C$21.02. RioCan Real Estate Investment Trust has a one year low of C$17.51 and a one year high of C$23.25.

RioCan Real Estate Investment Trust (TSE:REI.UN) last announced its earnings results on Tuesday, August 4th. The real estate investment trust reported C$0.52 earnings per share (EPS) for the quarter. The company had revenue of C$304.36 million for the quarter. RioCan Real Estate Investment Trust had a return on equity of 0.78% and a net margin of 4.86%.

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.