RioCan Real Estate Investment Trust (TSE:REI.UN) Issues Quarterly Earnings Results

RioCan Real Estate Investment Trust (TSE:REI.UN) posted its quarterly earnings data on Tuesday. The real estate investment trust reported C$0.52 EPS for the quarter, FiscalAI reports. The company had revenue of C$304.36 million during the quarter. RioCan Real Estate Investment Trust had a net margin of 4.86% and a return on equity of 0.78%.

RioCan Real Estate Investment Trust Price Performance

TSE:REI.UN traded down C$0.39 during trading hours on Tuesday, reaching C$21.79. 1,102,356 shares of the company were exchanged, compared to its average volume of 711,614. The business has a 50 day moving average of C$22.61 and a 200 day moving average of C$20.99. RioCan Real Estate Investment Trust has a 1-year low of C$17.51 and a 1-year high of C$23.25. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08. The company has a market capitalization of C$6.34 billion, a P/E ratio of 26.25 and a beta of 0.95.

Wall Street Analysts Forecast Growth

REI.UN has been the subject of several research reports. Royal Bank Of Canada raised their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Raymond James Financial upped their price objective on RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Desjardins lifted 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 report on Wednesday, May 6th. National Bank Financial boosted 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. Finally, TD upped their price target 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 note on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$23.68.

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.