RioCan Real Estate Investment Trust (TSE:REI.UN) Hits New 52-Week High – Here’s Why

RioCan Real Estate Investment Trust (TSE:REI.UN) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$22.25 and last traded at C$22.15, with a volume of 370964 shares. The stock had previously closed at C$21.97.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on REI.UN shares. Royal Bank Of Canada increased their target price on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Desjardins increased their target price on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. TD increased their target price on RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Scotia upped 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 research report on Wednesday, May 6th. Finally, National Bank Financial upped their price target on RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, RioCan Real Estate Investment Trust presently has an average rating of “Moderate Buy” and a consensus price target of C$23.68.

RioCan Real Estate Investment Trust Trading Up 0.8%

The company has a market cap of C$6.45 billion, a price-to-earnings ratio of 26.69 and a beta of 0.87. 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 fifty day moving average price of C$20.63 and a 200 day moving average price of C$19.68.

RioCan Real Estate Investment Trust (TSE:REI.UN) last released its quarterly earnings data on Monday, May 4th. The real estate investment trust reported C$0.32 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$322.31 million during the quarter.

RioCan Real Estate Investment Trust Company Profile

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.