RioCan Real Estate Investment Trust (TSE:REI.UN) Sets New 1-Year High – What’s Next?

RioCan Real Estate Investment Trust (TSE:REI.UN)’s stock price hit a new 52-week high on Monday . The stock traded as high as C$20.23 and last traded at C$20.22, with a volume of 317517 shares changing hands. The stock had previously closed at C$20.18.

Analyst Ratings Changes

Several brokerages recently weighed in on REI.UN. Raymond James Financial lifted their price objective on shares of RioCan Real Estate Investment Trust from C$21.50 to C$21.75 and gave the company an “outperform” rating in a research report on Monday, February 23rd. Royal Bank Of Canada lifted their price objective on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 and gave the company an “outperform” rating in a research report on Monday, February 23rd. Finally, National Bank Financial lifted their price objective on shares of RioCan Real Estate Investment Trust from C$22.50 to C$22.75 and gave the company an “outperform” rating in a research report on Friday, February 20th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$20.88.

RioCan Real Estate Investment Trust Stock Performance

The stock has a market capitalization of C$5.94 billion, a P/E ratio of 87.91 and a beta of 0.81. The company’s 50-day moving average is C$19.51 and its two-hundred day moving average is C$19.14. 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 (TSE:REI.UN) last issued its quarterly earnings data on Tuesday, February 17th. The real estate investment trust reported C$0.43 earnings per share for the quarter. The firm had revenue of C$347.92 million for the quarter. RioCan Real Estate Investment Trust had a net margin of 4.86% and a return on equity of 0.78%.

RioCan Real Estate Investment Trust Company Profile

Riocan Real Estate Investment Trust is a Canadian real estate investment trust which owns, develops, and operates Canada’s portfolio of retail-focused, increasingly mixed-use properties. The REIT’s property portfolio includes shopping centers and mixed-use developments, with most of its properties located in Ontario, Canada. Riocan’s tenants consist of grocery stores, supermarkets, restaurants, cinemas, pharmacies, and corporates. By geography, the company operates in Canada, which generates the majority of total revenue, and in the United States.