National Bank Financial Forecasts Strong Price Appreciation for RioCan Real Estate Investment Trust (TSE:REI.UN) Stock

Key Points

• National Bank Financial raised its target price on RioCan to C$24.00 (from C$22.75) and maintained an "outperform" rating, implying about a 13.8% upside from the prior close.
• The stock carries a consensus "Moderate Buy" (five Buys, two Holds) with an average target of C$21.03, while shares traded at C$21.09 (down 1.8%), placing the market price roughly in line with analyst targets.
• Key fundamentals show a market cap of C$6.19B, a high P/E of 91.7 and a debt-to-equity of 95.37, alongside modest profitability (net margin 4.86%, ROE 0.78%), indicating elevated leverage and thin margins.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) had its target price lifted by equities researchers at National Bank Financial from C$22.75 to C$24.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the real estate investment trust's stock. National Bank Financial's price objective indicates a potential upside of 13.80% from the company's previous close.

A number of other equities analysts have also recently issued reports on the stock. Raymond James Financial upped their price target on shares of RioCan Real Estate Investment Trust from C$21.50 to C$21.75 and gave the stock an "outperform" rating in a research note on Monday, February 23rd. Royal Bank Of Canada upped their price target on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 and gave the stock an "outperform" rating in a research note on Monday, February 23rd. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$21.03.

RioCan Real Estate Investment Trust Stock Down 1.8%

Shares of TSE:REI.UN traded down C$0.38 during midday trading on Monday, reaching C$21.09. The company's stock had a trading volume of 646,446 shares, compared to its average volume of 776,710. The firm has a 50 day moving average of C$19.62 and a 200-day moving average of C$19.21. The firm has a market capitalization of C$6.19 billion, a P/E ratio of 91.70 and a beta of 0.81. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37. RioCan Real Estate Investment Trust has a 12-month low of C$16.73 and a 12-month high of C$21.67.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The real estate investment trust reported C$0.43 earnings per share (EPS) for the quarter. The company had revenue of C$347.92 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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