RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$21.00

Posted by Samantha Reynolds on Sep 16th, 2024

RioCan Real Estate Investment Trust (TSE:REI.UN – Get Free Report) had its price target lifted by investment analysts at Canaccord Genuity Group from C$20.00 to C$21.00 in a research note issued on Monday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 2.44% from the company’s previous close.

Separately, TD Securities increased their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$21.00.

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RioCan Real Estate Investment Trust Stock Down 0.7 %

RioCan Real Estate Investment Trust stock traded down C$0.15 during trading hours on Monday, hitting C$20.50. The company had a trading volume of 412,745 shares, compared to its average volume of 848,593. The firm’s fifty day moving average is C$18.13 and its 200-day moving average is C$17.79. The firm has a market capitalization of C$6.16 billion, a P/E ratio of 102.30 and a beta of 1.30. 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 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

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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.