Brokerages Set RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target at C$21.67

RioCan Real Estate Investment Trust (TSE:REI.UN) has been given an average rating of “Moderate Buy” by the six analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$21.67.

A number of research firms have recently commented on REI.UN. CIBC increased 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. TD Securities boosted their price target on RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research report on Monday, September 30th. Canaccord Genuity Group raised their target price 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. BMO Capital Markets raised shares of RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from C$21.00 to C$20.50 in a research report on Wednesday, December 18th. Finally, 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 report on Wednesday, October 9th.

RioCan Real Estate Investment Trust Price Performance

REI.UN stock opened at C$18.41 on Tuesday. The stock has a 50-day moving average price of C$18.66 and a two-hundred day moving average price of C$18.60. RioCan Real Estate Investment Trust has a 1 year low of C$16.26 and a 1 year high of C$20.83. The stock has a market cap of C$5.52 billion, a PE ratio of 92.05 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.

Insider Buying and Selling

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

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.