RioCan Real Estate Investment (RIOCF) Received its Third Buy in a Row
After CIBC and Canaccord Genuity gave RioCan Real Estate Investment (Other OTC: RIOCF) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Johann Rodrigues maintained a Buy rating on RioCan Real Estate Investment today and set a price target of C$30.00. The company’s shares closed last Monday at $20.69.
According to TipRanks.com, Rodrigues is ranked #562 out of 5976 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for RioCan Real Estate Investment with a $22.36 average price target, a 5.6% upside from current levels. In a report issued on February 20, CIBC also maintained a Buy rating on the stock with a C$30.00 price target.
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RioCan Real Estate Investment’s market cap is currently $6.61B and has a P/E ratio of 10.91. The company has a Price to Book ratio of 1.06.
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RioCan Real Estate Investment Trust engages in owning, development, management, and operation of shopping centers. Its property portfolio includes grocery anchored, new format retail, urban retail, mixed-use and non-grocery anchored centers. The company was founded by Edward Sonshine on July 10, 1981 and is headquartered in Toronto, Canada.