RioCan Real Estate Investment Trust (TSE:REI.UN) Receives Average Rating of "Moderate Buy" from Analysts

RioCan Real Estate Investment Trust (TSE:REI.UN - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is C$21.67.

A number of brokerages recently issued reports on REI.UN. BMO Capital Markets upgraded RioCan Real Estate Investment Trust from a "market perform" rating to an "outperform" rating and lowered their price target for the company from C$21.00 to C$20.50 in a report on Wednesday, December 18th. CIBC boosted their price target on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research note on Wednesday, November 13th. TD Securities raised their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a report on Monday, September 30th. Canaccord Genuity Group raised their price objective on shares of 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. Finally, National Bankshares increased 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.

RioCan Real Estate Investment Trust Stock Performance

Shares of RioCan Real Estate Investment Trust stock traded down C$0.11 during trading hours on Tuesday, reaching C$18.45. 566,977 shares of the stock traded hands, compared to its average volume of 635,248. RioCan Real Estate Investment Trust has a one year low of C$16.26 and a one year high of C$20.83. The company has a 50 day moving average price of C$18.69 and a 200 day moving average price of C$18.57. The firm has a market capitalization of C$5.53 billion, a price-to-earnings ratio of 92.25 and a beta of 1.31. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37.

Insider Buying and Selling

In related news, Senior Officer Jennifer Suess sold 2,104 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of C$19.02, for a total transaction of C$40,018.08. Also, Senior Officer Oliver Harrison sold 4,000 shares of RioCan Real Estate Investment Trust stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of C$18.95, for a total transaction of C$75,804.00. 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.