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

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$21.67.

REI.UN has been the subject of a number of research analyst reports. CIBC lifted their price target on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research report on Wednesday, November 13th. TD Securities raised their price target on RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research report on Monday, September 30th. BMO Capital Markets upgraded RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from C$21.00 to C$20.50 in a report on Wednesday, December 18th. Canaccord Genuity Group raised their price objective 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, National Bankshares upped their target price on RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a research note on Wednesday, October 9th.

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. Also, Senior Officer Oliver Harrison sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of C$18.95, for a total value of C$75,804.00. 0.31% of the stock is currently owned by insiders.

RioCan Real Estate Investment Trust Price Performance

TSE:REI.UN opened at C$18.56 on Tuesday. RioCan Real Estate Investment Trust has a 52-week low of C$16.26 and a 52-week high of C$20.83. The stock has a fifty day moving average of C$18.70 and a 200 day moving average of C$18.56. 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 market capitalization of C$5.57 billion, a price-to-earnings ratio of 92.80 and a beta of 1.31.

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.