RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$20.50

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective boosted by BMO Capital Markets from C$19.00 to C$20.50 in a research note released on Monday, BayStreet.CA reports.

A number of other brokerages also recently issued reports on REI.UN. TD Securities upped their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research report on Monday, September 30th. National Bankshares upped their target price on RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a report on Wednesday, October 9th. Finally, Canaccord Genuity Group lifted their price target 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$21.63.

RioCan Real Estate Investment Trust Stock Performance

TSE REI.UN opened at C$19.18 on Monday. The company has a fifty day moving average price of C$19.60 and a 200-day moving average price of C$18.19. The firm has a market cap 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 current ratio of 0.30 and a quick ratio of 0.08. RioCan Real Estate Investment Trust has a 1 year low of C$16.26 and a 1 year 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.