RioCan Real Estate Investment Trust (TSE:REI.UN) Reaches New 1-Year High - Should You Buy?

Key Points

• RioCan hit a new 52-week high, trading up to C$21.69 (last C$21.58) as several analysts raised price targets — National Bank to C$24, Raymond James to C$21.75 and RBC to C$22 — and the stock carries a "Moderate Buy" consensus.
• Financial and valuation risks persist: the REIT shows low liquidity (current ratio 0.30, quick ratio 0.08), very high leverage (debt-to-equity 95.37) and a stretched P/E of 94.26 despite modest quarterly EPS (C$0.32) and a net margin of 4.86%.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$21.69 and last traded at C$21.58, with a volume of 447815 shares. The stock had previously closed at C$21.34.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Raymond James Financial raised their price target on shares of RioCan Real Estate Investment Trust from C$21.50 to C$21.75 and gave the stock an "outperform" rating in a report on Monday, February 23rd. National Bank Financial raised their price target on shares of 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. Finally, Royal Bank Of Canada raised their price target on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 and gave the stock an "outperform" rating in a report on Monday, February 23rd. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of C$21.03.

RioCan Real Estate Investment Trust Price Performance

The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37. The company's fifty day moving average is C$19.88 and its two-hundred day moving average is C$19.35. The stock has a market cap of C$6.30 billion, a price-to-earnings ratio of 94.26 and a beta of 0.87.

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 for the quarter. RioCan Real Estate Investment Trust had a net margin of 4.86% and a return on equity of 0.78%. 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.

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.