RioCan Real Estate Investment Trust (TSE:REI.UN) Receives C$21.67 Consensus Price Target from Analysts

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among analysts 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 research reports. Canaccord Genuity Group lifted their target price on shares of RioCan Real Estate Investment Trust from C$20.00 to C$21.00 and gave the company a “buy” rating in a report on Monday, September 16th. BMO Capital Markets lifted their price objective on shares of RioCan Real Estate Investment Trust from C$19.00 to C$20.50 in a research note on Monday, October 28th. National Bankshares increased their target price on shares of RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a research note on Wednesday, October 9th. CIBC raised their price target on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a report on Wednesday, November 13th. Finally, TD Securities upped their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research note on Monday, September 30th.

Insider Activity

In other news, Senior Officer Jennifer Suess sold 2,104 shares of RioCan Real Estate Investment Trust 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. Insiders own 0.31% of the company’s stock.

RioCan Real Estate Investment Trust Stock Performance

Shares of REI.UN stock opened at C$18.32 on Friday. The stock’s 50-day moving average is C$19.11 and its two-hundred day moving average is C$18.43. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. 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$5.50 billion, a price-to-earnings ratio of 91.60 and a beta of 1.31.

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.