CIBC Boosts RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target to C$22.00

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective upped by CIBC from C$21.00 to C$22.00 in a research note issued to investors on Wednesday morning,BayStreet.CA reports.

REI.UN has been the topic of a number of other reports. National Bankshares boosted their target price on RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a research report on Wednesday, October 9th. Canaccord Genuity Group boosted their price objective on RioCan Real Estate Investment Trust from C$20.00 to C$21.00 and gave the stock a “buy” rating in a report on Monday, September 16th. BMO Capital Markets raised their target price on shares of RioCan Real Estate Investment Trust from C$19.00 to C$20.50 in a report on Monday, October 28th. Finally, TD Securities boosted their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a report on Monday, September 30th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$21.71.

RioCan Real Estate Investment Trust Price Performance

TSE REI.UN opened at C$19.00 on Wednesday. RioCan Real Estate Investment Trust has a 1 year low of C$16.26 and a 1 year high of C$20.83. The business’s fifty day moving average is C$19.69 and its two-hundred day moving average is C$18.27. The stock has a market capitalization of C$5.70 billion, a P/E ratio of 95.00 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.

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.