RioCan Real Estate Investment Trust (TSE:REI.UN) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of RioCan Real Estate Investment Trust (TSE:REI.UN) from a market perform rating to an outperform rating in a research note released on Wednesday morning,BayStreet.CA reports. The firm currently has C$20.50 target price on the real estate investment trust’s stock, down from their previous target price of C$21.00.

A number of other analysts also recently issued reports on the stock. Canaccord Genuity Group raised 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 report on Monday, September 16th. 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. TD Securities increased their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a report on Monday, September 30th. Finally, CIBC boosted their price target on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research note on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$21.67.

RioCan Real Estate Investment Trust Stock Up 2.4 %

Shares of REI.UN opened at C$18.45 on Wednesday. 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 has a market capitalization of C$5.53 billion, a price-to-earnings ratio of 92.25 and a beta of 1.31. The stock has a 50 day moving average price of C$19.01 and a 200 day moving average price of C$18.44. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30.

Insider Transactions at RioCan Real Estate Investment Trust

In related news, Senior Officer Jennifer Suess sold 2,104 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of C$19.02, for a total value of C$40,018.08. Also, Senior Officer Oliver Harrison sold 4,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of C$18.95, for a total value of C$75,804.00. Corporate insiders own 0.31% of the company’s stock.

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.