RioCan Real Estate Investment Trust (TSE:REI.UN) Receives Average Rating of “Moderate Buy” from Brokerages

RioCan Real Estate Investment Trust (TSE:REI.UN) has earned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$23.68.

Several analysts recently commented on REI.UN shares. Desjardins increased their target price 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 note on Wednesday, May 6th. TD lifted 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 report on Wednesday, May 6th. Scotia upped their price target on RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the company a “sector perform” rating in a report on Wednesday, May 6th. National Bank Financial increased their price objective on RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Finally, BMO Capital Markets raised their price objective 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.

RioCan Real Estate Investment Trust Price Performance

Shares of RioCan Real Estate Investment Trust stock opened at C$22.77 on Tuesday. RioCan Real Estate Investment Trust has a 52 week low of C$17.35 and a 52 week high of C$23.25. 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 has a market cap of C$6.63 billion, a PE ratio of 27.43 and a beta of 0.94. The company’s 50-day moving average price is C$21.48 and its two-hundred day moving average price is C$20.01.

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

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.