TD Issues Positive Forecast for RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Price

Key Points

• TD raised its price target on RioCan from C$23 to C$24 and kept a buy rating, implying about a 9.54% upside; multiple other analysts also lifted targets and the consensus is a "Moderate Buy" with an average target of C$22.33.
• RioCan traded at C$21.91 (up 1.2%) with a market cap of C$6.37 billion, a PE of 95.26, and a 52‑week range of C$16.73–C$22.10.
• Latest quarter showed EPS of C$0.32 on C$322.31 million revenue, but the REIT has high leverage (debt‑to‑equity 95.37) and low liquidity (current ratio 0.30).

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) had its price target boosted by stock analysts at TD from C$23.00 to C$24.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has a "buy" rating on the real estate investment trust's stock. TD's target price would suggest a potential upside of 9.54% from the company's previous close.

A number of other equities analysts also recently commented on REI.UN. National Bank Financial upped their target price on RioCan Real Estate Investment Trust from C$22.75 to C$24.00 and gave the company an "outperform" rating in a report on Monday, April 20th. Desjardins lifted their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$24.00 and gave the company a "buy" rating in a research note on Wednesday. Royal Bank Of Canada boosted 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 research report on Monday, February 23rd. Scotia boosted their price target on shares of RioCan Real Estate Investment Trust from C$20.50 to C$22.25 and gave the company a "sector perform" rating in a research report on Wednesday. Finally, Raymond James Financial boosted their price target on shares of RioCan Real Estate Investment Trust from C$23.25 to C$23.75 and gave the company an "outperform" rating in a research report on Wednesday. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of C$22.33.

RioCan Real Estate Investment Trust Trading Up 1.2%

RioCan Real Estate Investment Trust stock traded up C$0.25 during trading hours on Wednesday, reaching C$21.91. The stock had a trading volume of 346,609 shares, compared to its average volume of 768,040. The stock has a market cap of C$6.37 billion, a PE ratio of 95.26 and a beta of 0.87. RioCan Real Estate Investment Trust has a 52 week low of C$16.73 and a 52 week high of C$22.10. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08. The company has a fifty day simple moving average of C$19.92 and a 200-day simple moving average of C$19.37.

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) last announced its earnings results on Monday, May 4th. The real estate investment trust reported C$0.32 EPS for the quarter. The company had revenue of C$322.31 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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