BMO Capital Markets Increases RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target to C$20.50

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price raised by research analysts at BMO Capital Markets from C$19.00 to C$20.50 in a research note issued on Monday, BayStreet.CA reports. BMO Capital Markets’ target price suggests a potential upside of 5.34% from the stock’s current price.

Several other research firms have also recently weighed in on REI.UN. TD Securities boosted 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. National Bankshares boosted their price objective on RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a research report on Wednesday, October 9th. Finally, 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 report on Monday, September 16th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, RioCan Real Estate Investment Trust presently has an average rating of “Moderate Buy” and a consensus price target of C$21.63.

RioCan Real Estate Investment Trust Stock Up 0.7 %

Shares of TSE:REI.UN traded up C$0.13 during mid-day trading on Monday, hitting C$19.46. 166,371 shares of the company traded hands, compared to its average volume of 817,062. The stock has a 50-day moving average price of C$19.51 and a two-hundred day moving average price of C$18.16. The company has a current ratio of 0.30, a quick ratio of 0.08 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 stock has a market cap of C$5.84 billion, a P/E ratio of 97.35 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.