RBC Capital Sticks to Their Buy Rating for RioCan Real Estate Investment (RIOCF)

In a report released today, Pammi Bir from RBC Capital maintained a Buy rating on RioCan Real Estate Investment, with a price target of C$21.00.

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Bir covers the Real Estate sector, focusing on stocks such as Primaris Real Estate Investment Trust, RioCan Real Estate Investment, and Allied Properties Real Estate Investment Trust. According to TipRanks, Bir has an average return of 9.4% and a 62.86% success rate on recommended stocks.

In addition to RBC Capital, RioCan Real Estate Investment also received a Buy from TR | OpenAI – 4o’s Zoey Cartessa in a report issued on November 8. However, on November 12, Scotiabank maintained a Hold rating on RioCan Real Estate Investment (Other OTC: RIOCF).

Based on RioCan Real Estate Investment’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$372.48 million and a net profit of C$145.62 million. In comparison, last year the company earned a revenue of C$303.79 million and had a net profit of C$122.36 million

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RIOCF in relation to earlier this year.