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

Key Points

• RioCan Real Estate Investment Trust (TSE:REI.UN) has received a consensus recommendation of "Moderate Buy" from ten brokerages, with eight analysts issuing buy recommendations and two indicating a hold.
• The average 12-month price target for RioCan shares among analysts is C$20.30, with some analysts setting higher targets of C$20.50 and C$19.00 following recent positive reports.
• Currently, RioCan's stock price is around C$18.94, with a 12-month trading range between C$15.46 and C$20.83, reflecting a market capitalization of C$5.59 billion.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$20.30.

REI.UN has been the subject of several recent analyst reports. Raymond James Financial set a C$20.50 price objective on shares of RioCan Real Estate Investment Trust and gave the stock an "outperform" rating in a report on Thursday, July 10th. National Bankshares raised shares of RioCan Real Estate Investment Trust from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from C$18.00 to C$19.00 in a report on Tuesday, July 15th.

RioCan Real Estate Investment Trust Stock Performance

Shares of REI.UN opened at C$18.94 on Friday. The company's fifty day moving average is C$18.03 and its 200-day moving average is C$17.67. RioCan Real Estate Investment Trust has a 12 month low of C$15.46 and a 12 month high of C$20.83. The firm has a market cap of C$5.59 billion, a price-to-earnings ratio of 19.94 and a beta of 1.06. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37.

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.

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