RioCan Real Estate Investment Trust (TSE:REI.UN) PT Raised to C$23.00 at National Bankshares

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target increased by investment analysts at National Bankshares from C$20.00 to C$23.00 in a report issued on Wednesday, BayStreet.CA reports. National Bankshares’ price target would suggest a potential upside of 17.65% from the stock’s previous close.

A number of other brokerages have also recently commented on REI.UN. TD Securities upped their price target on RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research report on Monday, September 30th. Canaccord Genuity Group boosted their price objective 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. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, RioCan Real Estate Investment Trust has a consensus rating of “Moderate Buy” and an average target price of C$21.44.

RioCan Real Estate Investment Trust Stock Performance

Shares of TSE:REI.UN traded up C$0.11 during mid-day trading on Wednesday, reaching C$19.55. The company had a trading volume of 130,468 shares, compared to its average volume of 838,866. RioCan Real Estate Investment Trust has a one year low of C$16.26 and a one year high of C$20.83. The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37. The company’s 50-day moving average price is C$19.04 and its 200-day moving average price is C$18.06. The firm has a market cap of C$5.86 billion, a price-to-earnings ratio of 97.60 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.