CIBC Forecasts Strong Price Appreciation for RioCan Real Estate Investment Trust (TSE:REI.UN) Stock

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective boosted by research analysts at CIBC from C$21.00 to C$22.00 in a research note issued on Wednesday,BayStreet.CA reports. CIBC’s price target suggests a potential upside of 15.18% from the company’s current price.

A number of other equities analysts have also commented on the stock. TD Securities lifted 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. Canaccord Genuity Group lifted 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 report on Monday, September 16th. National Bankshares increased their price target on RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a research note on Wednesday, October 9th. Finally, BMO Capital Markets raised their price objective on RioCan Real Estate Investment Trust from C$19.00 to C$20.50 in a research report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$21.71.

RioCan Real Estate Investment Trust Price Performance

Shares of TSE REI.UN opened at C$19.10 on Wednesday. The company has a 50 day simple moving average of C$19.69 and a 200 day simple moving average of C$18.26. 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 has a 1 year low of C$16.26 and a 1 year high of C$20.83. The firm has a market cap of C$5.73 billion, a PE ratio of 95.50 and a beta of 1.31.

About RioCan Real Estate Investment Trust

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.