RioCan Real Estate Investment Trust (TSE:REI.UN) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst consensus is “Moderate Buy”: Six of eight analysts rate RioCan a buy, while two recommend holding the stock. The average 12-month price target is C$23.81.
• Several brokerages recently raised their price targets, including RBC to C$25.00, TD to C$24.00, and Raymond James to C$23.75; other firms maintained hold or sector-perform ratings.
• RioCan reported quarterly EPS of C$0.52 on revenue of C$304.36 million. Shares opened at C$20.94, compared with a 52-week range of C$18.06 to C$23.25.

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eight analysts that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is C$23.81.

Several equities research analysts have recently issued reports on REI.UN shares. TD raised their price target on shares of RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Royal Bank Of Canada upped their price objective on RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Canaccord Genuity Group increased their price objective on RioCan Real Estate Investment Trust from C$21.50 to C$22.50 and gave the company a "hold" rating in a report on Thursday, August 6th. Scotia raised their target price on RioCan Real Estate Investment Trust from C$22.25 to C$22.50 and gave the stock a "sector perform" rating in a research report on Thursday, August 6th. Finally, Raymond James Financial boosted their target price on RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the company an "outperform" rating in a research note on Wednesday, May 6th.

RioCan Real Estate Investment Trust Price Performance

Shares of TSE:REI.UN opened at C$20.94 on Monday. The company has a market capitalization of C$6.09 billion, a P/E ratio of 24.35 and a beta of 0.95. The company's 50-day moving average is C$22.24 and its 200 day moving average is C$21.23. 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 fifty-two week low of C$18.06 and a fifty-two week high of C$23.25.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported C$0.52 EPS for the quarter. The business had revenue of C$304.36 million for the quarter. RioCan Real Estate Investment Trust had a net margin of 4.86% and a return on equity of 0.78%.

RioCan Real Estate Investment Trust Company Profile

Riocan Real Estate Investment Trust is a Canadian real estate investment trust which owns, develops, and operates Canada's portfolio of retail-focused, increasingly mixed-use properties. The REIT's property portfolio includes shopping centers and mixed-use developments, with most of its properties located in Ontario, Canada. Riocan's tenants consist of grocery stores, supermarkets, restaurants, cinemas, pharmacies, and corporates. By geography, the company operates in Canada, which generates the majority of total revenue, and in the United States.

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