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

Key Points

• RioCan has a “Moderate Buy” consensus rating: Six of seven analysts recommend buying the REIT, while one recommends holding it. The average 12-month price target is C$23.68.
• Several firms recently raised their targets, including Desjardins and RBC to C$24.00, BMO to C$23.50, Scotia to C$22.25, and National Bank to C$24.25.
• RioCan shares opened at C$21.95, with a market capitalization of approximately C$6.39 billion. In its latest quarterly results, the REIT reported C$0.52 in EPS and C$304.36 million in revenue.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) has been given an average rating of "Moderate Buy" by the seven research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is C$23.68.

Several research firms have recently issued reports on REI.UN. Desjardins upped their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. BMO Capital Markets raised their price target on shares of RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the company an "outperform" rating in a research report on Wednesday, May 6th. Scotia boosted their price target on shares of RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the stock a "sector perform" rating in a report on Wednesday, May 6th. Royal Bank Of Canada upped their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Finally, National Bank Financial increased their price objective on shares of RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the company an "outperform" rating in a research note on Wednesday, May 6th.

RioCan Real Estate Investment Trust Stock Up 0.7%

Shares of TSE:REI.UN opened at C$21.95 on Thursday. The business's 50 day moving average is C$22.60 and its 200 day moving average is C$21.02. RioCan Real Estate Investment Trust has a 12-month low of C$17.51 and a 12-month high of C$23.25. The stock has a market cap of C$6.39 billion, a price-to-earnings ratio of 26.45 and a beta of 0.95. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported C$0.52 EPS for the quarter. The business had revenue of C$304.36 million during the quarter. RioCan Real Estate Investment Trust had a return on equity of 0.78% and a net margin of 4.86%.

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. 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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