Brokerages Set RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target at C$21.71

RioCan Real Estate Investment Trust (TSE:REI.UN) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is C$21.71.

REI.UN has been the subject of several analyst reports. Canaccord Genuity Group lifted 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. National Bankshares lifted 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 increased their price target on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research report on Wednesday, November 13th. TD Securities lifted their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research report on Monday, September 30th. Finally, BMO Capital Markets boosted their price objective on RioCan Real Estate Investment Trust from C$19.00 to C$20.50 in a research note on Monday, October 28th.

RioCan Real Estate Investment Trust Stock Down 0.8 %

Shares of TSE REI.UN opened at C$18.92 on Monday. RioCan Real Estate Investment Trust has a 52-week low of C$16.26 and a 52-week high of C$20.83. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. The business has a fifty day moving average of C$19.62 and a two-hundred day moving average of C$18.33. The stock has a market cap of C$5.68 billion, a PE ratio of 94.60 and a beta of 1.31.

Insider Activity

In other news, Senior Officer Jennifer Suess sold 2,104 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of C$19.02, for a total value of C$40,018.08. In the last ninety days, insiders sold 3,620 shares of company stock valued at $69,337. Company insiders own 0.31% of the company’s stock.

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.