Canaccord Genuity Group Increases RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target to C$21.00

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective lifted by stock analysts at Canaccord Genuity Group from C$20.00 to C$21.00 in a research note issued on Monday, BayStreet.CA reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 3.14% from the company’s previous close.

Separately, TD Securities boosted their target price on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$21.00.

RioCan Real Estate Investment Trust Stock Down 0.5 %

Shares of RioCan Real Estate Investment Trust stock opened at C$20.36 on Monday. The stock’s 50-day moving average is C$18.20 and its 200 day moving average is C$17.81. RioCan Real Estate Investment Trust has a one year low of C$16.26 and a one year high of C$20.83. The firm has a market cap of C$6.12 billion, a price-to-earnings ratio of 101.80 and a beta of 1.30. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08.

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.