RioCan Real Estate Investment Trust (TSE:REI.UN) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• RioCan Real Estate Investment Trust received an average analyst rating of “Moderate Buy” from seven covering brokerages, with six buy recommendations and one hold. The average 12-month target price is C$23.68.
• Several firms raised their price targets on the stock, including BMO Capital Markets, Scotia, Raymond James, Desjardins, and National Bank Financial, with most maintaining positive ratings such as outperform or buy.
• The stock recently traded at C$22.50, near its 1-year high of C$23.25, while the company reported quarterly EPS of C$0.32 and revenue of C$322.31 million.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$23.68.

A number of brokerages have issued reports on REI.UN. BMO Capital Markets raised their target price on RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the stock an "outperform" rating in a research note on Wednesday, May 6th. Scotia upped their price objective on shares of RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the company a "sector perform" rating in a report on Wednesday, May 6th. Raymond James Financial raised their price objective on shares of RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Desjardins boosted their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Finally, National Bank Financial raised their price target on shares of RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the stock an "outperform" rating in a report on Wednesday, May 6th.

RioCan Real Estate Investment Trust Price Performance

Shares of RioCan Real Estate Investment Trust stock traded down C$0.15 on Friday, hitting C$22.50. 463,554 shares of the company were exchanged, compared to its average volume of 724,875. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37. The company has a 50-day moving average price of C$22.29 and a 200 day moving average price of C$20.57. The stock has a market capitalization of C$6.55 billion, a price-to-earnings ratio of 27.11 and a beta of 0.95. RioCan Real Estate Investment Trust has a 1-year low of C$17.49 and a 1-year high of C$23.25.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The real estate investment trust reported C$0.32 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 firm had revenue of C$322.31 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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