RioCan Real Estate Investment Trust (TSE:REI.UN) Updates FY 2024 Earnings Guidance

RioCan Real Estate Investment Trust (TSE:REI.UN) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 1.790-1.820 for the period. The company issued revenue guidance of -.

RioCan Real Estate Investment Trust Stock Performance

TSE REI.UN opened at C$17.53 on Monday. The company’s 50 day moving average is C$17.26 and its 200-day moving average is C$17.74. RioCan Real Estate Investment Trust has a 12-month low of C$16.26 and a 12-month high of C$19.93. The company has a quick ratio of 0.08, a current ratio of 0.26 and a debt-to-equity ratio of 93.99. The firm has a market cap of C$5.27 billion, a P/E ratio of 103.12 and a beta of 1.30.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on REI.UN shares. TD Securities cut their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$21.00 in a research note on Wednesday, April 24th. National Bankshares cut their price objective on shares of RioCan Real Estate Investment Trust from C$21.00 to C$20.50 and set an outperform rating for the company in a research note on Wednesday, April 24th. Finally, Scotiabank cut shares of RioCan Real Estate Investment Trust from an outperform rating to a sector perform rating and cut their price objective for the company from C$22.50 to C$20.50 in a research note on Tuesday, May 14th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of C$20.86.

About RioCan Real Estate Investment Trust

RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at December 31, 2023, our portfolio is comprised of 188 properties with an aggregate net leasable area of approximately 32.6 million square feet (at RioCan’s interest) including office, residential rental and 9 development properties.