RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Price Expected to Rise, CIBC Analyst Says

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

REI.UN has been the subject of several other research reports. BMO Capital Markets raised their price target on RioCan Real Estate Investment Trust from C$19.00 to C$20.50 in a report on Monday, October 28th. National Bankshares raised 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. TD Securities upped their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research note on Monday, September 30th. Finally, Canaccord Genuity Group increased 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, RioCan Real Estate Investment Trust has a consensus rating of “Moderate Buy” and an average price target of C$21.71.

RioCan Real Estate Investment Trust Stock Performance

REI.UN opened at C$19.10 on Wednesday. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37. RioCan Real Estate Investment Trust has a 12-month low of C$16.26 and a 12-month high of C$20.83. The business has a 50 day moving average of C$19.69 and a 200-day moving average of C$18.26. The stock has a market cap of C$5.73 billion, a price-to-earnings ratio of 95.50 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.