RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$24.25 at National Bank Financial

Key Points

• National Bank Financial raised its price target to C$24.25 (from C$24.00) and kept an "outperform" rating, implying roughly a 10.7% upside from the current share price.
• Multiple brokers (BMO, Raymond James, RBC, TD, Scotia) also bumped targets this week; MarketBeat's consensus is a "Moderate Buy" with a mean price target of C$22.33 (7 Buy, 3 Hold).
• RioCan trades near C$21.91 with a market cap of C$6.37B, a high PE (~95) and a debt-to-equity ratio around 95%, after reporting quarterly EPS of C$0.32 on revenue of C$322.3M.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) had its price objective hoisted by National Bank Financial from C$24.00 to C$24.25 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the real estate investment trust's stock. National Bank Financial's target price points to a potential upside of 10.68% from the stock's current price.

REI.UN has been the subject of a number of other reports. BMO Capital Markets boosted their target price on RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the company an "outperform" rating in a research note on Wednesday. Raymond James Financial boosted their target price on 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. Royal Bank Of Canada boosted their target price on 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. TD boosted their target price on RioCan Real Estate Investment Trust from C$23.00 to C$24.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Scotia boosted their target price on RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the company a "sector perform" rating in a research note on Wednesday. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, RioCan Real Estate Investment Trust has a consensus rating of "Moderate Buy" and a consensus price target of C$22.33.

RioCan Real Estate Investment Trust Trading Up 1.2%

TSE:REI.UN traded up C$0.25 on Wednesday, reaching C$21.91. The company's stock had a trading volume of 346,609 shares, compared to its average volume of 768,040. RioCan Real Estate Investment Trust has a 1-year low of C$16.73 and a 1-year high of C$22.10. 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 firm has a market cap of C$6.37 billion, a PE ratio of 95.26 and a beta of 0.87. The business's 50-day moving average price is C$19.92 and its two-hundred day moving average price is C$19.37.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) last posted its earnings results on Monday, May 4th. The real estate investment trust reported C$0.32 earnings per share (EPS) for the quarter. RioCan Real Estate Investment Trust had a return on equity of 0.78% and a net margin of 4.86%.The firm had revenue of C$322.31 million during the quarter.

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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