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

RioCan Real Estate Investment Trust (TSE:REI.UN) has been given an average rating of “Moderate Buy” by the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$21.67.

Several research analysts recently issued reports on the company. TD Securities raised their target price on RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research report on Monday, September 30th. CIBC raised their target price on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research report on Wednesday, November 13th. Canaccord Genuity Group raised 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 research report on Monday, September 16th. BMO Capital Markets raised their target price on RioCan Real Estate Investment Trust from C$19.00 to C$20.50 in a research report on Monday, October 28th. Finally, National Bankshares raised their target price on 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 Up 2.1 %

Shares of REI.UN opened at C$18.64 on Friday. RioCan Real Estate Investment Trust has a 52 week low of C$16.26 and a 52 week high of C$20.83. The stock has a market capitalization of C$5.59 billion, a price-to-earnings ratio of 93.20 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. The stock has a fifty day moving average of C$19.08 and a 200-day moving average of C$18.44.

Insider Activity at RioCan Real Estate Investment Trust

In other RioCan Real Estate Investment Trust news, Senior Officer Jennifer Suess sold 2,104 shares of RioCan Real Estate Investment Trust stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of C$19.02, for a total transaction of C$40,018.08. 0.31% of the stock is owned by insiders.

RioCan Real Estate Investment Trust Company Profile

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.