RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Has Consensus Price Target of C$23.81 According to Brokerages

RioCan Real Estate Investment Trust (TSE:REI.UN) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$23.81.

Several analysts recently commented on REI.UN shares. Scotia lifted their price objective on RioCan Real Estate Investment Trust from C$22.25 to C$22.50 and gave the stock a “sector perform” rating in a report on Thursday, August 6th. Canaccord Genuity Group upped their target price on shares of RioCan Real Estate Investment Trust from C$21.50 to C$22.50 and gave the stock a “hold” rating in a report on Thursday, August 6th. Desjardins upped their target price on shares of RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada lifted their price objective on RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th.

RioCan Real Estate Investment Trust Price Performance

Shares of TSE:REI.UN opened at C$20.66 on Friday. RioCan Real Estate Investment Trust has a fifty-two week low of C$18.06 and a fifty-two week high of C$23.25. The business has a 50-day simple moving average of C$21.22 and a two-hundred day simple moving average of C$21.42. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. The firm has a market cap of C$6.01 billion, a price-to-earnings ratio of 24.02 and a beta of 0.89.

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