RioCan Real Estate Investment Trust (TSE:REI.UN) Receives C$21.67 Average PT from Brokerages

RioCan Real Estate Investment Trust (TSE:REI.UN) has earned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$21.67.

A number of research analysts recently weighed in on REI.UN shares. BMO Capital Markets lifted their price objective on shares of RioCan Real Estate Investment Trust from C$19.00 to C$20.50 in a research note on Monday, October 28th. National Bankshares lifted their price objective on shares of RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a research note on Wednesday, October 9th. Canaccord Genuity Group lifted their price objective on shares of 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. CIBC lifted their price objective on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research note on Wednesday, November 13th. 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 research report on Monday, September 30th.

RioCan Real Estate Investment Trust Stock Up 2.1 %

RioCan Real Estate Investment Trust stock opened at C$18.64 on Friday. RioCan Real Estate Investment Trust has a 1-year low of C$16.26 and a 1-year high of C$20.83. The firm has a market capitalization of C$5.59 billion, a price-to-earnings ratio of 93.20 and a beta of 1.31. The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37. The firm has a 50 day simple moving average of C$19.08 and a 200 day simple moving average of C$18.44.

Insider Activity

In related news, Senior Officer Jennifer Suess sold 2,104 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of C$19.02, for a total value of C$40,018.08. Company insiders own 0.31% of the company’s stock.

RioCan Real Estate Investment Trust Company Profile

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.