RioCan Real Estate Investment Trust (TSE:REI.UN) Receives C$21.71 Consensus Price Target from Analysts

RioCan Real Estate Investment Trust (TSE:REI.UN) has received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$21.71.

A number of equities research analysts recently commented on the stock. TD Securities raised their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research report on Monday, September 30th. National Bankshares raised their price target on RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a report on Wednesday, October 9th. CIBC increased their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research report on Wednesday, November 13th. Canaccord Genuity Group raised their target price 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. Finally, BMO Capital Markets upped their price target on shares of RioCan Real Estate Investment Trust from C$19.00 to C$20.50 in a research note on Monday, October 28th.

Insider Buying and Selling

In other RioCan Real Estate Investment Trust news, Senior Officer Jennifer Suess sold 2,104 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of C$19.02, for a total value of C$40,018.08. Insiders have sold 3,620 shares of company stock worth $69,337 in the last three months. Corporate insiders own 0.31% of the company’s stock.

RioCan Real Estate Investment Trust Stock Down 0.8 %

Shares of RioCan Real Estate Investment Trust stock opened at C$18.92 on Monday. RioCan Real Estate Investment Trust has a one year low of C$16.26 and a one year high of C$20.83. The company has a market cap of C$5.68 billion, a P/E ratio of 94.60 and a beta of 1.31. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. The firm has a fifty day moving average of C$19.64 and a two-hundred day moving average of C$18.30.

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.