RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$21.50

Key Points

• RioCan Real Estate Investment Trust's price target has been raised by National Bankshares from C$19.75 to C$21.50, indicating a potential upside of 13.46% from the current stock price.
• Raymond James Financial has set a separate price objective of C$20.50, with both brokers giving an "outperform" rating for the stock.
• The stock currently holds a consensus rating of "Moderate Buy" with a target price of C$20.50 based on multiple analyst assessments.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) had its price target upped by equities researchers at National Bankshares from C$19.75 to C$21.50 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the real estate investment trust's stock. National Bankshares' target price points to a potential upside of 13.46% from the stock's current price.

Separately, Raymond James Financial set a C$20.50 price objective on shares of RioCan Real Estate Investment Trust and gave the company an "outperform" rating in a research report on Thursday, July 10th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, RioCan Real Estate Investment Trust currently has a consensus rating of "Moderate Buy" and a consensus target price of C$20.50.

RioCan Real Estate Investment Trust Price Performance

REI.UN stock traded down C$0.01 during trading on Wednesday, hitting C$18.95. 228,872 shares of the company's stock traded hands, compared to its average volume of 708,427. RioCan Real Estate Investment Trust has a 52 week low of C$15.46 and a 52 week high of C$20.08. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. The business has a fifty day simple moving average of C$18.43 and a 200 day simple moving average of C$17.71. The stock has a market capitalization of C$5.59 billion, a price-to-earnings ratio of 19.95 and a beta of 1.03.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.