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

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) have received an average rating of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$23.68.

A number of analysts have weighed in on the stock. TD increased their target price on shares of RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. National Bank Financial increased their target price on shares of RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada increased their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Desjardins increased their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Scotia increased their price target on RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the stock a “sector perform” rating in a report on Wednesday, May 6th.

RioCan Real Estate Investment Trust Stock Performance

TSE:REI.UN opened at C$21.97 on Friday. The company has a market capitalization of C$6.40 billion, a PE ratio of 26.47 and a beta of 0.87. The company has a 50 day simple moving average of C$20.57 and a two-hundred day simple moving average of C$19.65. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. RioCan Real Estate Investment Trust has a fifty-two week low of C$17.11 and a fifty-two week high of C$22.15.

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 for the quarter. The business had revenue of C$322.31 million during the quarter. RioCan Real Estate Investment Trust had a net margin of 4.86% and a return on equity of 0.78%.

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.