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

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) have received an average rating of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is C$21.71.

REI.UN has been the topic of several analyst reports. TD Securities upped their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research report on Monday, September 30th. BMO Capital Markets upped their price target on shares of RioCan Real Estate Investment Trust from C$19.00 to C$20.50 in a research report on Monday, October 28th. CIBC upped their price target on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research report on Wednesday, November 13th. Canaccord Genuity Group upped their price target on shares of RioCan Real Estate Investment Trust from C$20.00 to C$21.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, National Bankshares upped their price target on shares of RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a research report on Wednesday, October 9th.

RioCan Real Estate Investment Trust Stock Performance

Shares of REI.UN stock opened at C$19.00 on Monday. The company’s fifty day simple moving average is C$19.69 and its 200-day simple moving average is C$18.27. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37. The firm has a market cap of C$5.70 billion, a PE ratio of 95.00 and a beta of 1.31. RioCan Real Estate Investment Trust has a 12 month low of C$16.26 and a 12 month high of C$20.83.

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.