RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$22.75

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective lifted by National Bank Financial from C$22.50 to C$22.75 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. National Bank Financial’s price target would suggest a potential upside of 16.25% from the stock’s current price.

Separately, BMO Capital Markets boosted their price objective on shares of RioCan Real Estate Investment Trust from C$20.00 to C$21.00 in a research report on Wednesday, November 19th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$20.75.

RioCan Real Estate Investment Trust Stock Down 0.1%

REI.UN stock traded down C$0.01 during mid-day trading on Friday, hitting C$19.57. 522,628 shares of the company were exchanged, compared to its average volume of 709,489. 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 1-year low of C$15.46 and a 1-year high of C$20.23. The firm’s 50 day simple moving average is C$19.29 and its 200 day simple moving average is C$18.86. The firm has a market cap of C$5.77 billion, a P/E ratio of 88.95 and a beta of 1.05.

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.