RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Has Average Price Target of C$23.81 According to Analysts

Key Points

• RioCan has a “Moderate Buy” consensus rating from eight analysts: six recommend buying the stock and two advise holding it. The average 12-month price target is C$23.81.
• Several analysts recently raised their targets, with RBC and Desjardins lifting theirs to C$25.00, while Canaccord Genuity and Scotia raised theirs to C$22.50.
• REI.UN opened at C$20.39, below its C$23.25 52-week high, and reported quarterly revenue of C$304.36 million and earnings of C$0.52 per share.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eight research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is C$23.81.

REI.UN has been the subject of several recent analyst reports. Royal Bank Of Canada raised their price objective on shares of RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Canaccord Genuity Group increased their price target on RioCan Real Estate Investment Trust from C$21.50 to C$22.50 and gave the stock a "hold" rating in a research report on Thursday, August 6th. Scotia raised their price target on RioCan Real Estate Investment Trust from C$22.25 to C$22.50 and gave the company a "sector perform" rating in a report on Thursday, August 6th. Finally, Desjardins raised their price target on RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the company a "buy" rating in a report on Thursday, August 6th.

RioCan Real Estate Investment Trust Stock Down 1.6%

REI.UN opened at C$20.39 on Friday. 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. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08. The firm's fifty day moving average price is C$21.44 and its two-hundred day moving average price is C$21.36. The company has a market capitalization of C$5.94 billion, a P/E ratio of 23.71 and a beta of 0.89.

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

About RioCan Real Estate Investment Trust

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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