RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$24.00

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target hoisted by TD from C$23.00 to C$24.00 in a research report released on Wednesday morning,BayStreet.CA reports. They currently have a buy rating on the real estate investment trust’s stock.

REI.UN has been the topic of several other reports. Raymond James Financial boosted their target price on RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the stock an “outperform” rating in a report on Wednesday. National Bank Financial boosted their target price on RioCan Real Estate Investment Trust from C$22.75 to C$24.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Royal Bank Of Canada boosted their target price on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a report on Monday, February 23rd. Scotia boosted their target price on RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Desjardins boosted 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. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, RioCan Real Estate Investment Trust currently has an average rating of “Moderate Buy” and a consensus price target of C$23.68.

RioCan Real Estate Investment Trust Stock Up 0.5%

TSE REI.UN opened at C$21.91 on Wednesday. The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37. The stock’s 50 day moving average is C$20.00 and its two-hundred day moving average is C$19.41. The company has a market capitalization of C$6.38 billion, a price-to-earnings ratio of 26.40 and a beta of 0.87. RioCan Real Estate Investment Trust has a 1-year low of C$16.91 and a 1-year high of C$22.10.

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 earnings per share for the quarter. The company had revenue of C$322.31 million for the quarter. RioCan Real Estate Investment Trust had a return on equity of 0.78% and a net margin of 4.86%.

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.