RioCan Real Estate Investment Trust (TSE:REI.UN) Given Average Recommendation of “Moderate Buy” by Analysts

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

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

RioCan Real Estate Investment Trust Price Performance

Shares of REI.UN stock opened at C$19.18 on Thursday. The stock’s 50 day simple moving average is C$19.60 and its 200 day simple moving average is C$18.19. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. RioCan Real Estate Investment Trust has a twelve month low of C$16.26 and a twelve month high of C$20.83. The company has a market capitalization of C$5.75 billion, a price-to-earnings ratio of 95.90 and a beta of 1.31.

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.