RioCan Real Estate Investment Trust (TSE:REI.UN) Raised to Outperform at BMO Capital Markets

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) was upgraded by stock analysts at BMO Capital Markets from a "market perform" rating to an "outperform" rating in a report issued on Wednesday,BayStreet.CA reports. The firm presently has a C$20.50 target price on the real estate investment trust's stock, down from their previous target price of C$21.00. BMO Capital Markets' price target suggests a potential upside of 11.23% from the stock's previous close.

A number of other analysts have also recently weighed in on REI.UN. CIBC raised their target price on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a report on Wednesday, November 13th. Canaccord Genuity Group raised their price objective on RioCan Real Estate Investment Trust from C$20.00 to C$21.00 and gave the stock a "buy" rating in a research note on Monday, September 16th. TD Securities lifted their target price on RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a report on Monday, September 30th. Finally, National Bankshares upped their target price on RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a report on Wednesday, October 9th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$21.67.

RioCan Real Estate Investment Trust Price Performance

REI.UN traded down C$0.21 during trading on Wednesday, reaching C$18.43. The stock had a trading volume of 1,085,190 shares, compared to its average volume of 802,688. The stock has a 50 day moving average of C$19.03 and a two-hundred day moving average of C$18.44. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37. The firm has a market capitalization of C$5.53 billion, a price-to-earnings ratio of 92.15 and a beta of 1.31. RioCan Real Estate Investment Trust has a 1-year low of C$16.26 and a 1-year high of C$20.83.

Insiders Place Their Bets

In other RioCan Real Estate Investment Trust news, Senior Officer Jennifer Suess sold 2,104 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of C$19.02, for a total value of C$40,018.08. Also, 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 transaction of C$75,804.00. Corporate insiders own 0.31% of the company's stock.

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.