RioCan Real Estate Investment Trust (TSE:REI.UN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

RioCan Real Estate Investment Trust (TSE:REI.UN) has been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is C$21.67.

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

Insider Buying and Selling

In other RioCan Real Estate Investment Trust news, Senior Officer Oliver Harrison sold 4,000 shares of the 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. Also, Senior Officer Jennifer Suess sold 2,104 shares of the company’s 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 corporate insiders.

RioCan Real Estate Investment Trust Trading Up 0.1 %

Shares of TSE:REI.UN opened at C$18.56 on Tuesday. 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 stock has a market capitalization of C$5.57 billion, a PE ratio of 92.80 and a beta of 1.31. The firm has a fifty day moving average price of C$18.70 and a 200 day moving average price of C$18.56. RioCan Real Estate Investment Trust has a 1 year low of C$16.26 and a 1 year high of C$20.83.

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.