RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$25.00

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target upped by Desjardins from C$24.00 to C$25.00 in a research note released on Thursday morning,BayStreet.CA reports. Desjardins currently has a buy rating on the real estate investment trust’s stock.

A number of other analysts have also recently issued reports on REI.UN. Royal Bank Of Canada lifted their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. TD increased 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 note on Wednesday, May 6th. Canaccord Genuity Group raised their price target on shares of 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. BMO Capital Markets lifted their price objective 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. Finally, National Bank Financial upped their price objective 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 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 stock. According to MarketBeat, RioCan Real Estate Investment Trust has an average rating of “Moderate Buy” and an average price target of C$23.81.

RioCan Real Estate Investment Trust Stock Up 0.6%

Shares of RioCan Real Estate Investment Trust stock opened at C$21.73 on Thursday. The firm has a market cap of C$6.32 billion, a price-to-earnings ratio of 26.18 and a beta of 0.95. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08. 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 has a 50-day simple moving average of C$22.59 and a 200-day simple moving average of C$21.04.

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

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.