RioCan Real Estate Investment Trust (TSE:REI.UN) Sets New 1-Year High - What's Next?

Key Points

• Shares hit a new 52-week high — RioCan traded as high as C$20.23 (last C$20.22) and several analysts (Raymond James, National Bank, RBC) raised targets, leaving a consensus price target of C$20.88 and an average rating of "Moderate Buy".
• Valuation and balance-sheet risks — the REIT has a market cap of C$5.94B, a high P/E of 87.91 and a heavy debt load (debt-to-equity ~95.37) with low liquidity (current ratio 0.30, quick ratio 0.08).
• Recent results and business focus — RioCan reported quarterly EPS of C$0.43 on C$347.9M revenue with a 0.78% ROE and 4.86% net margin, and operates a retail-focused, largely Ontario-based portfolio of shopping centers and mixed-use properties.

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as C$20.23 and last traded at C$20.22, with a volume of 317517 shares. The stock had previously closed at C$20.18.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Raymond James Financial raised their price objective 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 objective on shares of RioCan Real Estate Investment Trust from C$22.50 to C$22.75 and gave the stock an "outperform" rating in a report on Friday, February 20th. Finally, Royal Bank Of Canada lifted their price target 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 report on Monday, February 23rd. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$20.88.

RioCan Real Estate Investment Trust Trading Up 0.2%

The firm has a market cap of C$5.94 billion, a P/E ratio of 87.91 and a beta of 0.81. 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 fifty day moving average of C$19.51 and a 200-day moving average of C$19.14.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The real estate investment trust reported C$0.43 earnings per share (EPS) for the quarter. The business had revenue of C$347.92 million for 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.

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