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

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$21.63.

A number of research analysts have recently commented on the company. 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 research note on Monday, September 16th. TD Securities raised their target price on RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research note on Monday, September 30th. National Bankshares raised 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. Finally, BMO Capital Markets raised their target price on RioCan Real Estate Investment Trust from C$19.00 to C$20.50 in a research note on Monday.

RioCan Real Estate Investment Trust Trading Up 0.5 %

REI.UN opened at C$19.42 on Thursday. The stock has a market cap of C$5.83 billion, a PE ratio of 97.10 and a beta of 1.31. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37. The business has a 50 day moving average of C$19.54 and a 200-day moving average of C$18.17. RioCan Real Estate Investment Trust has a 52 week low of C$16.26 and a 52 week high of C$20.83.

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.