RioCan Real Estate Investment Trust (TSE:REI.UN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$23.81.

A number of analysts have recently issued reports on REI.UN shares. Desjardins raised their price target on shares of RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Canaccord Genuity Group boosted their price objective on shares of RioCan Real Estate Investment Trust from C$21.50 to C$22.50 and gave the company a “hold” rating in a report on Thursday, August 6th. TD raised their target price on shares of 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. Royal Bank Of Canada lifted their target price on shares of RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Scotia boosted their target price on shares of RioCan Real Estate Investment Trust from C$22.25 to C$22.50 and gave the company a “sector perform” rating in a research note on Thursday, August 6th.

RioCan Real Estate Investment Trust Stock Down 0.9%

REI.UN stock opened at C$21.54 on Thursday. RioCan Real Estate Investment Trust has a 1-year low of C$17.51 and a 1-year high of C$23.25. The business has a fifty day moving average price of C$22.58 and a 200-day moving average price of C$21.06. 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 stock has a market capitalization of C$6.26 billion, a P/E ratio of 25.05 and a beta of 0.95.

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

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.