RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$22.25 at Scotia

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target upped by equities research analysts at Scotia from C$20.50 to C$22.25 in a report released on Wednesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotia’s price objective would indicate a potential upside of 1.55% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Raymond James Financial increased their price target on RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the stock an “outperform” rating in a research report on Wednesday. National Bank Financial upped their price objective on RioCan Real Estate Investment Trust from C$22.75 to C$24.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Royal Bank Of Canada upped their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a report on Monday, February 23rd. Finally, Desjardins upped their price objective on 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. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$22.33.

RioCan Real Estate Investment Trust Price Performance

TSE REI.UN traded up C$0.25 during trading hours on Wednesday, reaching C$21.91. 346,609 shares of the company’s stock were exchanged, compared to its average volume of 768,040. The stock has a market cap of C$6.37 billion, a PE ratio of 95.26 and a beta of 0.87. RioCan Real Estate Investment Trust has a one year low of C$16.73 and a one year high of C$22.10. The firm has a fifty day moving average of C$19.92 and a 200-day moving average of C$19.37. The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37.

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

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.