RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price increased by Royal Bank of Canada from C$26.50 to C$27.00 in a research note issued on Wednesday. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 7.83% from the stock’s previous close.
REI.UN has been the topic of a number of other reports. BMO Capital Markets reiterated an “outperform” rating and issued a C$27.00 price objective on shares of RioCan Real Estate Investment Trust in a research report on Monday. Raymond James decreased their target price on shares of RioCan Real Estate Investment Trust from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a research report on Thursday, November 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of C$27.08.
TSE:REI.UN traded down C$0.10 during midday trading on Wednesday, reaching C$25.04. The stock had a trading volume of 327,992 shares, compared to its average volume of 861,509. RioCan Real Estate Investment Trust has a 12-month low of C$23.06 and a 12-month high of C$26.67. The company has a debt-to-equity ratio of 78.51, a current ratio of 0.59 and a quick ratio of 0.13. The firm has a market cap of $7.61 billion and a price-to-earnings ratio of 13.56.
RioCan is one of Canada's largest real estate investment trust with a total enterprise value of approximately $13.7 billion at September 30, 2018. 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.
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