RioCan Real Estate Investment Trust (TSE:REI.UN) Given New C$23.50 Price Target at BMO Capital Markets

Key Points

• BMO Capital Markets raised its price target on RioCan to C$23.50 (from C$21.00) and kept an outperform rating, implying about a 7.3% upside; multiple other brokers also bumped targets, leaving a MarketBeat consensus of Moderate Buy with an average PT of C$22.33.
• Shares traded at C$21.91 mid-day with a market cap of C$6.37B and a PE of 95.26; RioCan reported Q1 EPS of C$0.32 on C$322.31M revenue and a modest net margin of 4.86%.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) had its target price raised by research analysts at BMO Capital Markets from C$21.00 to C$23.50 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the real estate investment trust's stock. BMO Capital Markets' price target would indicate a potential upside of 7.26% from the stock's previous close.

REI.UN has been the subject of several other reports. TD increased their price target on RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a "buy" rating in a report on Wednesday. National Bank Financial increased their price target on RioCan Real Estate Investment Trust from C$22.75 to C$24.00 and gave the stock an "outperform" rating in a report on Monday, April 20th. Raymond James Financial increased their price target on RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the stock an "outperform" rating in a report on Wednesday. Desjardins increased their price target on RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Scotia increased their price target on RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the stock a "sector perform" rating in a report on Wednesday. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$22.33.

RioCan Real Estate Investment Trust Stock Performance

Shares of REI.UN traded up C$0.25 during mid-day trading on Wednesday, reaching C$21.91. 346,609 shares of the company's stock were exchanged, compared to its average volume of 768,040. 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 stock has a market capitalization of C$6.37 billion, a PE ratio of 95.26 and a beta of 0.87. The business's fifty day simple moving average is C$19.92 and its 200-day simple moving average is C$19.37. RioCan Real Estate Investment Trust has a 52-week low of C$16.73 and a 52-week high of C$22.10.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) last announced its earnings results on Monday, May 4th. The real estate investment trust reported C$0.32 earnings per share (EPS) for the quarter. The business had revenue of C$322.31 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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