RioCan Real Estate Investment Trust (TSE:REI.UN) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• RioCan Real Estate Investment Trust (TSE:REI.UN) has received an average rating of "Moderate Buy" from ten brokerages, with eight analysts recommending a buy and two recommending a hold.
• The average 12-month price target for RioCan is C$20.30, while recent target price adjustments have seen estimates drop from C$23.00 to C$22.00, and as low as C$20.00 among various firms.
• RioCan's stock is currently trading at C$17.80, down 0.6%, with a 52-week range between C$15.46 and C$20.83, and it has a market capitalization of C$5.34 billion.

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$20.30.

Several equities research analysts recently weighed in on the stock. Canaccord Genuity Group dropped their price objective on shares of RioCan Real Estate Investment Trust from C$19.50 to C$19.00 and set a "hold" rating on the stock in a research note on Wednesday, May 7th. National Bankshares upgraded shares of RioCan Real Estate Investment Trust from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from C$18.00 to C$19.00 in a research note on Tuesday, July 15th. Desjardins dropped their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$20.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. CIBC dropped their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$20.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Finally, Raymond James Financial set a C$20.50 price objective on shares of RioCan Real Estate Investment Trust and gave the stock an "outperform" rating in a research note on Thursday, July 10th.

RioCan Real Estate Investment Trust Stock Up 1.2%

RioCan Real Estate Investment Trust stock traded up C$0.21 during trading on Friday, reaching C$17.88. 706,070 shares of the company's stock were exchanged, compared to its average volume of 737,143. RioCan Real Estate Investment Trust has a 52-week low of C$15.46 and a 52-week high of C$20.83. 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$5.36 billion, a price-to-earnings ratio of 89.40 and a beta of 1.31. The company's 50-day moving average is C$17.58 and its two-hundred day moving average is C$17.81.

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.