RioCan Real Estate Investment Trust (TSE:REI.UN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have given 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$21.63.

A number of research analysts recently issued reports on REI.UN shares. National Bankshares lifted their target price on RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a report on Wednesday, October 9th. Canaccord Genuity Group lifted their target price on RioCan Real Estate Investment Trust from C$20.00 to C$21.00 and gave the stock a “buy” rating in a report on Monday, September 16th. BMO Capital Markets lifted their target price on RioCan Real Estate Investment Trust from C$19.00 to C$20.50 in a report on Monday. Finally, TD Securities lifted their target price on RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a report on Monday, September 30th.

RioCan Real Estate Investment Trust Price Performance

Shares of REI.UN opened at C$19.18 on Thursday. The firm has a market capitalization of C$5.75 billion, a price-to-earnings ratio of 95.90 and a beta of 1.31. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. RioCan Real Estate Investment Trust has a one year low of C$16.26 and a one year high of C$20.83. The stock’s fifty day moving average is C$19.60 and its 200-day moving average is C$18.19.

About RioCan Real Estate Investment Trust

RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at December 31, 2023, our portfolio is comprised of 188 properties with an aggregate net leasable area of approximately 32.6 million square feet (at RioCan’s interest) including office, residential rental and 9 development properties.