RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Rating Upgraded by 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,BayStreet.CA reports. BMO Capital Markets currently has C$20.50 price target on the real estate investment trust’s stock, down from their previous price target of C$21.00.

A number of other brokerages have also issued reports on REI.UN. Canaccord Genuity Group lifted 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 report on Monday, September 16th. CIBC boosted their price target on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research report on Wednesday, November 13th. TD Securities increased their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a report on Monday, September 30th. Finally, 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. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$21.67.

RioCan Real Estate Investment Trust Stock Down 1.1 %

Shares of REI.UN stock opened at C$18.43 on Wednesday. The firm has a fifty day moving average of C$19.03 and a 200-day moving average of C$18.44. RioCan Real Estate Investment Trust has a 12-month low of C$16.26 and a 12-month high of C$20.83. The company has a market capitalization of C$5.53 billion, a price-to-earnings ratio of 92.15 and a beta of 1.31. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37.

Insider Activity at RioCan Real Estate Investment Trust

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