RioCan Real Estate Investment Trust (TSE:REI.UN) Upgraded by BMO Capital Markets to “Outperform” Rating

BMO Capital Markets upgraded shares of RioCan Real Estate Investment Trust (TSE:REI.UN) from a market perform rating to an outperform rating in a research report released on Wednesday morning,BayStreet.CA reports. BMO Capital Markets currently has C$20.50 price target on the real estate investment trust’s stock, down from their previous price target of C$21.00.

Other equities analysts have also issued reports about the company. 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. Canaccord Genuity Group lifted 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. TD Securities lifted their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a research report on Monday, September 30th. Finally, CIBC upped their price target on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, RioCan Real Estate Investment Trust has a consensus rating of “Moderate Buy” and a consensus price target of C$21.67.

RioCan Real Estate Investment Trust Stock Performance

Shares of REI.UN stock opened at C$18.43 on Wednesday. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08. The company’s fifty day moving average price is C$19.03 and its two-hundred day moving average price is C$18.44. The firm has a market capitalization of C$5.53 billion, a P/E ratio of 92.15 and a beta of 1.31. RioCan Real Estate Investment Trust has a 12 month low of C$16.26 and a 12 month high of C$20.83.

Insider Activity

In related news, Senior Officer Oliver Harrison sold 4,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of C$18.95, for a total value of C$75,804.00. Also, Senior Officer Jennifer Suess sold 2,104 shares of the business’s 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. 0.31% of the stock is owned by company insiders.

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.