BMO Capital upgraded RioCan REIT (RIOCF) to Outperform from Market Perform with a price target of C$20.50, down from C$21. The firm believes retail real estate investment trusts will generate better relative total returns versus other property segments over the next 12 months. It sees continued deleveraging and repatriation of equity from the purpose-built multifamily portfolio as potential performance drivers for RioCan.
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Read More on RIOCF:
- RioCan REIT price target raised to C$22 from C$21 at RBC Capital
- RioCan REIT price target raised to C$22 from C$21 at CIBC
- RioCan REIT price target raised to C$21 from C$20.50 at BMO Capital
- RioCan REIT price target raised to C$20.75 from C$20.25 at Scotiabank
- RioCan’s Strong Retail Leasing Boosts Earnings