RioCan Real Estate Investment Trust (TSE:REI.UN) Given New C$25.00 Price Target at Royal Bank Of Canada

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective increased by Royal Bank Of Canada from C$24.00 to C$25.00 in a research note issued to investors on Friday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

Several other research analysts also recently weighed in on the stock. TD upped their price target on shares of RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. National Bank Financial lifted their price objective on RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Desjardins boosted their price objective on RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research note on Thursday. Canaccord Genuity Group increased their target price on RioCan Real Estate Investment Trust from C$21.50 to C$22.50 and gave the company a “hold” rating in a report on Thursday. Finally, BMO Capital Markets raised their target price on RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$23.81.

RioCan Real Estate Investment Trust Price Performance

RioCan Real Estate Investment Trust stock opened at C$21.73 on Friday. The company’s fifty day moving average price is C$22.59 and its 200 day moving average price is C$21.04. RioCan Real Estate Investment Trust has a 1 year low of C$17.51 and a 1 year high of C$23.25. The stock has a market capitalization of C$6.32 billion, a P/E ratio of 26.18 and a beta of 0.95. 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 (TSE:REI.UN) last posted its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported C$0.52 earnings per share for the quarter. 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 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.