RioCan Real Estate Investment Trust (TSE:REI.UN) Sets New 12-Month High – Time to Buy?

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$20.23 and last traded at C$20.22, with a volume of 317517 shares trading hands. The stock had previously closed at C$20.18.

Analysts Set New Price Targets

A number of equities analysts have issued reports on REI.UN shares. National Bank Financial boosted their price objective on shares of RioCan Real Estate Investment Trust from C$22.50 to C$22.75 and gave the company an “outperform” rating in a research report on Friday, February 20th. Royal Bank Of Canada lifted their target price on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 and gave the company an “outperform” rating in a research note on Monday, February 23rd. Finally, Raymond James Financial boosted their price objective on shares of RioCan Real Estate Investment Trust from C$21.50 to C$21.75 and gave the stock an “outperform” rating in a research note on Monday, February 23rd. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$20.88.

RioCan Real Estate Investment Trust Stock Up 1.4%

The company has a market cap of C$6.02 billion, a P/E ratio of 89.17 and a beta of 0.81. 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 company’s 50-day moving average is C$19.54 and its two-hundred day moving average is C$19.16.

RioCan Real Estate Investment Trust (TSE:REI.UN) last released its quarterly earnings data on Tuesday, February 17th. The real estate investment trust reported C$0.43 earnings per share (EPS) for the quarter. The business had revenue of C$347.92 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.