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

RioCan Real Estate Investment Trust (TSE:REI.UN) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is C$21.67.

Several research firms have recently weighed in on REI.UN. CIBC increased their price objective on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research report on Wednesday, November 13th. TD Securities lifted their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research report on Monday, September 30th. BMO Capital Markets upgraded RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and cut their target price for the company from C$21.00 to C$20.50 in a research report on Wednesday, December 18th. National Bankshares lifted their target price on RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a report on Wednesday, October 9th. Finally, Canaccord Genuity Group increased their price target on RioCan Real Estate Investment Trust from C$20.00 to C$21.00 and gave the stock a “buy” rating in a report on Monday, September 16th.

Insider Buying and Selling at RioCan Real Estate Investment Trust

In related news, Senior Officer Jennifer Suess sold 2,104 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of C$19.02, for a total value of C$40,018.08. Also, Senior Officer Oliver Harrison sold 4,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of C$18.95, for a total value of C$75,804.00. Insiders own 0.31% of the company’s stock.

RioCan Real Estate Investment Trust Stock Performance

TSE:REI.UN opened at C$18.41 on Tuesday. The company has a market capitalization of C$5.52 billion, a PE ratio of 92.05 and a beta of 1.31. RioCan Real Estate Investment Trust has a fifty-two week low of C$16.26 and a fifty-two week high of C$20.83. 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 company has a 50 day simple moving average of C$18.66 and a two-hundred day simple moving average of C$18.60.

RioCan Real Estate Investment Trust Company Profile

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.