RioCan Real Estate Investment Trust (TSE:REI.UN) Given New C$23.50 Price Target at BMO Capital Markets

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target increased by equities researchers at BMO Capital Markets from C$21.00 to C$23.50 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. BMO Capital Markets’ price target points to a potential upside of 7.26% from the stock’s current price.

A number of other analysts have also recently commented on REI.UN. Desjardins lifted their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock a “buy” rating in a research report on Wednesday. National Bank Financial lifted their price objective on RioCan Real Estate Investment Trust from C$22.75 to C$24.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Royal Bank Of Canada lifted their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Monday, February 23rd. Raymond James Financial lifted their price objective on 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. Finally, TD lifted their price objective on 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. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$22.33.

RioCan Real Estate Investment Trust Price Performance

RioCan Real Estate Investment Trust stock traded up C$0.25 during midday trading on Wednesday, reaching C$21.91. 346,609 shares of the company were exchanged, compared to its average volume of 768,040. The company has a market capitalization of C$6.37 billion, a price-to-earnings ratio of 95.26 and a beta of 0.87. The firm’s 50-day simple moving average is C$19.92 and its 200-day simple moving average is C$19.37. RioCan Real Estate Investment Trust has a 1 year low of C$16.73 and a 1 year high of C$22.10. 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 Monday, May 4th. The real estate investment trust reported C$0.32 EPS for the quarter. The firm had revenue of C$322.31 million during 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.