RioCan Real Estate Investment Trust (TSE:REI.UN) Given Consensus 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 analysts, with eight recommending a buy and two a hold.
• The average 1-year price target for RioCan shares is C$20.30, with recent adjustments from analysts raising and lowering their price targets.
• RioCan focuses on retail and mixed-use properties in Canada, holding a market cap of C$5.43 billion, and has a current stock price around C$18.10.

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

Several research analysts have issued reports on the company. Canaccord Genuity Group cut their price objective on RioCan Real Estate Investment Trust from C$19.50 to C$19.00 and set a "hold" rating for the company in a research report on Wednesday, May 7th. Raymond James Financial set a C$20.50 price objective on RioCan Real Estate Investment Trust and gave the stock an "outperform" rating in a report on Thursday, July 10th. National Bankshares raised RioCan Real Estate Investment Trust from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from C$18.00 to C$19.00 in a report on Tuesday, July 15th. Desjardins reduced their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$20.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, Scotiabank reduced their price objective on RioCan Real Estate Investment Trust from C$21.50 to C$20.50 and set a "sector perform" rating for the company in a report on Wednesday, May 7th.

RioCan Real Estate Investment Trust Price Performance

TSE:REI.UN traded up C$0.33 during trading hours on Wednesday, hitting C$18.38. The company's stock had a trading volume of 973,393 shares, compared to its average volume of 737,845. The business's 50-day moving average is C$17.76 and its two-hundred day moving average is C$17.73. The company has a market capitalization of C$5.51 billion, a PE ratio of 91.90 and a beta of 1.31. 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 52-week low of C$15.46 and a 52-week high of C$20.83.

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.