RioCan Real Estate Investment Trust (TSE:REI.UN) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of RioCan Real Estate Investment Trust (TSE:REI.UN) from a market perform rating to an outperform rating in a research report sent to investors on Wednesday morning,BayStreet.CA reports. They currently have C$20.50 price objective on the real estate investment trust’s stock, down from their prior price objective of C$21.00.

A number of other equities analysts have also weighed in on the company. National Bankshares upped their price objective on RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a research note on Wednesday, October 9th. CIBC raised their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research report on Wednesday, November 13th. TD Securities increased their price target on RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research note on Monday, September 30th. Finally, Canaccord Genuity Group lifted 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 research note on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$21.67.

RioCan Real Estate Investment Trust Stock Performance

Shares of TSE REI.UN opened at C$18.45 on Wednesday. RioCan Real Estate Investment Trust has a 52-week low of C$16.26 and a 52-week high of C$20.83. 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 firm’s 50-day moving average price is C$19.01 and its 200-day moving average price is C$18.44. The company has a market cap of C$5.53 billion, a PE ratio of 92.25 and a beta of 1.31.

Insider Activity

In other RioCan Real Estate Investment Trust news, Senior Officer Oliver Harrison sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of C$18.95, for a total transaction of C$75,804.00. Also, Senior Officer Jennifer Suess sold 2,104 shares of RioCan Real Estate Investment Trust stock in a transaction on Friday, November 22nd. The stock was sold at an average price of C$19.02, for a total transaction of C$40,018.08. Company insiders own 0.31% of the company’s stock.

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.