RioCan Real Estate Investment Trust (TSE:REI.UN) Sets New 52-Week High – Here’s Why

RioCan Real Estate Investment Trust (TSE:REI.UN) shares hit a new 52-week high during trading on Friday . The company traded as high as C$22.53 and last traded at C$22.53, with a volume of 275427 shares trading hands. The stock had previously closed at C$22.11.

Analysts Set New Price Targets

A number of brokerages have recently commented on REI.UN. Raymond James Financial raised their price target on 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. Scotia raised their price target on RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the company a “sector perform” rating in a report on Wednesday, May 6th. National Bank Financial raised their price target on 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. BMO Capital Markets lifted their target price on RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Finally, TD lifted their target price on RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, RioCan Real Estate Investment Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of C$23.68.

RioCan Real Estate Investment Trust Trading Up 2.0%

The business has a fifty day moving average of C$20.98 and a 200-day moving average of C$19.82. The stock has a market capitalization of C$6.56 billion, a price-to-earnings ratio of 27.17 and a beta of 0.94. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08.

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 earnings per share (EPS) for the quarter. The firm 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.