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

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$21.67.

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

Insiders Place Their Bets

In related news, Senior Officer Jennifer Suess sold 2,104 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of C$19.02, for a total transaction of C$40,018.08. Corporate insiders own 0.31% of the company’s stock.

RioCan Real Estate Investment Trust Trading Up 0.4 %

REI.UN opened at C$18.46 on Friday. The firm has a market capitalization of C$5.54 billion, a price-to-earnings ratio of 92.30 and a beta of 1.31. RioCan Real Estate Investment Trust has a fifty-two week low of C$16.26 and a fifty-two week high of C$20.83. The company’s 50 day moving average price is C$19.14 and its two-hundred day moving average price is C$18.41. 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 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.