RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Price Expected to Rise, CIBC Analyst Says

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective hoisted by stock analysts at CIBC from C$21.00 to C$22.00 in a research note issued on Wednesday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 15.00% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. TD Securities increased their price target on RioCan Real Estate Investment Trust from C$22.00 to C$23.00 in a report on Monday, September 30th. National Bankshares boosted their price target on shares of RioCan Real Estate Investment Trust from C$20.00 to C$23.00 in a research report on Wednesday, October 9th. 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 report on Monday, September 16th. Finally, BMO Capital Markets increased their price target on shares of RioCan Real Estate Investment Trust from C$19.00 to C$20.50 in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, RioCan Real Estate Investment Trust has an average rating of “Moderate Buy” and a consensus target price of C$21.71.

RioCan Real Estate Investment Trust Price Performance

TSE REI.UN traded up C$0.16 during trading hours on Wednesday, hitting C$19.13. 288,535 shares of the company’s stock traded hands, compared to its average volume of 803,984. The company has a market capitalization of C$5.74 billion, a PE ratio of 95.65 and a beta of 1.31. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08. RioCan Real Estate Investment Trust has a 52-week low of C$16.26 and a 52-week high of C$20.83. The firm’s 50-day moving average is C$19.68 and its 200-day moving average is C$18.25.

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.