RioCan Real Estate Investment Trust (TSE:REI.UN) Receives C$21.67 Average PT from Analysts

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) have received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is C$21.67.

A number of analysts have recently weighed in on REI.UN shares. BMO Capital Markets upgraded RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and lowered their target price for the company from C$21.00 to C$20.50 in a research note on Wednesday, December 18th. TD Securities boosted their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research note on Monday, September 30th. National Bankshares upped their target price on shares of RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a research report on Wednesday, October 9th. Canaccord Genuity Group raised their price target 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. Finally, CIBC upped their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a report on Wednesday, November 13th.

Insider Activity at RioCan Real Estate Investment Trust

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

RioCan Real Estate Investment Trust Price Performance

Shares of REI.UN stock opened at C$18.66 on Tuesday. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08. The stock’s fifty day simple moving average is C$18.67 and its 200 day simple moving average is C$18.57. RioCan Real Estate Investment Trust has a one year low of C$16.26 and a one year high of C$20.83. The firm has a market cap of C$5.60 billion, a price-to-earnings ratio of 93.30 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.