RioCan Real Estate Investment Trust (TSE:REI.UN) Sets New 52-Week High – Still a Buy?

RioCan Real Estate Investment Trust (TSE:REI.UN)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$22.53 and last traded at C$22.53, with a volume of 275427 shares trading hands. The stock had previously closed at C$22.11.

Wall Street Analysts Forecast Growth

REI.UN has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price target on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Desjardins lifted their price target on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. 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 research note on Wednesday, May 6th. Scotia lifted their price target on RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the stock a “sector perform” rating in a research note on Wednesday, May 6th. Finally, BMO Capital Markets lifted their price target on RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, RioCan Real Estate Investment Trust presently has an average rating of “Moderate Buy” and a consensus target price of C$23.68.

RioCan Real Estate Investment Trust Stock Performance

The stock has a market cap of C$6.56 billion, a PE ratio of 27.16 and a beta of 0.94. The company has a fifty day moving average price of C$21.05 and a 200 day moving average price of C$19.84. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37.

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 EPS for the quarter. The firm 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.