RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$22.25 at Scotia

Key Points

• Scotia raised its price target on RioCan to C$22.25 (from C$20.50) and kept a "sector perform" rating, implying only about a 1.6% upside from the recent close.
• Several other brokers (Desjardins, Raymond James, National Bank, RBC) also lifted targets and issued mostly Buy/Outperform ratings, leaving MarketBeat's consensus as a "Moderate Buy" with an average target of C$22.33.
• Shares traded at C$21.91 (near the 52‑week high of C$22.10), while fundamentals show high leverage (debt/equity ~95.4), weak liquidity (current ratio 0.30), a high P/E (~95), and recent quarterly EPS of C$0.32 on C$322.3M revenue.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) had its price objective upped by equities research analysts at Scotia from C$20.50 to C$22.25 in a research note issued on Wednesday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the real estate investment trust's stock. Scotia's price objective would indicate a potential upside of 1.55% from the company's previous close.

Several other research firms have also recently commented on REI.UN. Desjardins upped their price target on 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. Raymond James Financial increased their price objective on shares of RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the company an "outperform" rating in a research note on Wednesday. National Bank Financial increased their price objective on shares of RioCan Real Estate Investment Trust from C$22.75 to C$24.00 and gave the company an "outperform" rating in a research note on Monday, April 20th. Finally, Royal Bank Of Canada increased their price objective on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 and gave the company an "outperform" rating in a research note on Monday, February 23rd. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, RioCan Real Estate Investment Trust currently has a consensus rating of "Moderate Buy" and an average price target of C$22.33.

RioCan Real Estate Investment Trust Stock Performance

RioCan Real Estate Investment Trust stock traded up C$0.25 during trading hours on Wednesday, hitting C$21.91. The stock had a trading volume of 346,609 shares, compared to its average volume of 768,040. The company has a 50-day moving average of C$19.92 and a two-hundred day moving average of C$19.37. 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 market cap of C$6.37 billion, a PE ratio of 95.26 and a beta of 0.87. RioCan Real Estate Investment Trust has a fifty-two week low of C$16.73 and a fifty-two week high of C$22.10.

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. The firm had revenue of C$322.31 million during the quarter. RioCan Real Estate Investment Trust had a return on equity of 0.78% and a net margin of 4.86%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.