Scotiabank Reaffirms Their Hold Rating on RioCan Real Estate

By Jason Carr

RioCan Real Estate (TSX: REI.UN), the Financial sector company, has received a rating update from a Wall Street analyst yesterday. Analyst Mario Saric from Scotiabank rated RioCan Real Estate (TSX: REI.UN) a Hold, setting a C$28 price target.

According to TipRanks.com, Saric is ranked #1072 out of 4572 analysts.

RioCan Real Estate has an analyst consensus of Strong Buy, with a price target consensus of C$29.38.

RioCan Real Estate’s market cap is currently C$8.34B and has a P/E ratio of 9.9.

RioCan Real Estate Investment Trust operates as a real estate investment trust, which focuses on owning, developing and operating shopping centers. Its investment portfolio includes grocery anchored and new format retail centers. The company was founded by Edward Sonshine on July 10, 1981 and is headquartered in Toronto, Canada.

The company’s shares closed last Thursday at $25.52, close to its 52-week low of $25.06.