RioCan Real Estate Investment Trust (TSE:REI.UN) Sets New 52-Week High – Here’s Why

RioCan Real Estate Investment Trust (TSE:REI.UN) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$22.25 and last traded at C$22.15, with a volume of 370964 shares changing hands. The stock had previously closed at C$21.97.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. TD lifted their price target on RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Desjardins boosted their price objective 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 report on Wednesday, May 6th. Scotia upped their price target on shares of 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, May 6th. Raymond James Financial boosted their price objective 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 note on Wednesday, May 6th. Finally, BMO Capital Markets upped 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 report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$23.68.

RioCan Real Estate Investment Trust Trading Up 0.5%

The company has a market cap of C$6.46 billion, a P/E ratio of 26.73 and a beta of 0.87. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08. The stock’s 50-day moving average is C$20.73 and its two-hundred day moving average is C$19.72.

RioCan Real Estate Investment Trust (TSE:REI.UN) last announced its earnings results on Monday, May 4th. The real estate investment trust reported C$0.32 EPS for the quarter. RioCan Real Estate Investment Trust had a net margin of 4.86% and a return on equity of 0.78%. The business had revenue of C$322.31 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.