RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$22.50

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price increased by Canaccord Genuity Group from C$21.50 to C$22.50 in a report released on Thursday,BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the real estate investment trust’s stock.

A number of other analysts have also issued reports on the stock. Royal Bank Of Canada lifted their price target 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 note on Friday, May 8th. 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 stock an “outperform” rating in a research report on Wednesday, May 6th. BMO Capital Markets upped their target price on shares of RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Desjardins upped 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 note on Wednesday, May 6th. Finally, Raymond James Financial increased their price target on shares of RioCan Real Estate Investment Trust from C$23.25 to C$23.75 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 two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$23.81.

RioCan Real Estate Investment Trust Price Performance

REI.UN stock opened at C$21.73 on Thursday. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37. RioCan Real Estate Investment Trust has a 52-week low of C$17.51 and a 52-week high of C$23.25. The stock’s 50 day moving average is C$22.59 and its two-hundred day moving average is C$21.04. The company has a market capitalization of C$6.32 billion, a PE ratio of 26.18 and a beta of 0.95.

RioCan Real Estate Investment Trust (TSE:REI.UN) last announced its earnings results on Tuesday, August 4th. The real estate investment trust reported C$0.52 earnings per share (EPS) for the quarter. The company had revenue of C$304.36 million for the quarter. RioCan Real Estate Investment Trust had a return on equity of 0.78% and a net margin of 4.86%.

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.