RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Increased to C$21.00 by Analysts at Canaccord Genuity Group

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price raised by equities research analysts at Canaccord Genuity Group from C$20.00 to C$21.00 in a note issued to investors on Monday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Canaccord Genuity Group’s target price would indicate a potential upside of 2.44% from the stock’s previous close.

Separately, TD Securities upped their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$21.00.

RioCan Real Estate Investment Trust Stock Performance

REI.UN stock traded down C$0.15 during trading on Monday, hitting C$20.50. 412,745 shares of the company’s stock traded hands, compared to its average volume of 848,593. The stock has a market capitalization of C$6.16 billion, a price-to-earnings ratio of 102.30 and a beta of 1.30. RioCan Real Estate Investment Trust has a 52 week low of C$16.26 and a 52 week high of C$20.83. The stock has a fifty day moving average price of C$18.13 and a two-hundred day moving average price of C$17.79. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37.

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.