TD Securities Raises RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target to C$23.00

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price hoisted by research analysts at TD Securities from C$22.00 to C$23.00 in a research report issued on Monday, BayStreet.CA reports. TD Securities’ target price indicates a potential upside of 12.25% from the stock’s current price.

Separately, Canaccord Genuity Group increased their price target on RioCan Real Estate Investment Trust from C$20.00 to C$21.00 and gave the company a “buy” rating in a report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$21.13.

RioCan Real Estate Investment Trust Stock Performance

Shares of TSE REI.UN traded up C$0.03 during trading on Monday, hitting C$20.49. The company had a trading volume of 298,882 shares, compared to its average volume of 844,411. The stock has a 50 day simple moving average of C$18.75 and a 200 day simple moving average of C$17.95. The firm has a market capitalization of C$6.16 billion, a P/E ratio of 102.30 and a beta of 1.30. RioCan Real Estate Investment Trust has a 12 month low of C$16.26 and a 12 month high of C$20.83. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30.

About RioCan Real Estate Investment Trust

RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at December 31, 2023, our portfolio is comprised of 188 properties with an aggregate net leasable area of approximately 32.6 million square feet (at RioCan’s interest) including office, residential rental and 9 development properties.