RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised RioCan’s price target from C$24.00 to C$25.00 while maintaining an “outperform” rating, implying 15.26% upside from the prior close.
• Analyst sentiment is broadly positive: six analysts rate the REIT a Buy and two rate it Hold, producing a “Moderate Buy” consensus and an average price target of C$23.81.
• RioCan shares closed at C$21.69, with a market capitalization of C$6.31 billion; the REIT recently reported quarterly EPS of C$0.52 and revenue of C$304.36 million.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) had its price target lifted by investment analysts at Royal Bank Of Canada from C$24.00 to C$25.00 in a research note issued on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the real estate investment trust's stock. Royal Bank Of Canada's price objective would suggest a potential upside of 15.26% from the company's previous close.

A number of other research firms have also recently weighed in on REI.UN. National Bank Financial boosted their target price on shares of RioCan Real Estate Investment Trust from C$24.00 to C$24.25 and gave the stock an "outperform" rating in a research note on Wednesday, May 6th. BMO Capital Markets raised their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$23.50 and gave the company an "outperform" rating in a report on Wednesday, May 6th. Canaccord Genuity Group boosted their price objective on RioCan Real Estate Investment Trust from C$21.50 to C$22.50 and gave the stock a "hold" rating in a research report on Thursday. Scotia increased their target price on RioCan Real Estate Investment Trust from C$22.25 to C$22.50 and gave the company a "sector perform" rating in a research report on Thursday. Finally, Desjardins lifted their price target on RioCan Real Estate Investment Trust from C$24.00 to C$25.00 and gave the company a "buy" rating in a research note on Thursday. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, RioCan Real Estate Investment Trust has an average rating of "Moderate Buy" and an average price target of C$23.81.

RioCan Real Estate Investment Trust Price Performance

Shares of REI.UN stock traded up C$0.08 on Friday, reaching C$21.69. The company had a trading volume of 367,510 shares, compared to its average volume of 714,886. The stock has a market capitalization of C$6.31 billion, a PE ratio of 26.13 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 has a one year low of C$17.51 and a one year high of C$23.25. The business's 50-day moving average is C$22.59 and its 200 day moving average is C$21.03.

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

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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