RioCan Real Estate Investment, the Real Estate sector company, was revisited by a Wall Street analyst yesterday. Analyst Michael Markidis from BMO Capital reiterated a Buy rating on the stock and has a C$21.00 price target.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Michael Markidis has given his Buy rating due to a combination of factors that highlight both operational strength and financial discipline at RioCan. The core retail portfolio is showing robust momentum, with high tenant retention, strong leasing spreads, and new leases being signed at rents meaningfully above the existing in-place average, supporting a stable and growing income base.
At the same time, management is simplifying the business by selling non-core residential assets, nearly completing its mixed-use development cycle, and redeploying proceeds into unit buybacks under the NCIB. Coupled with solid liquidity, manageable leverage, and an unchanged outlook for Core FFO per unit through 2027, these actions underpin BMO’s $21 target price and justify maintaining a positive, Buy-oriented view on the units.
Markidis covers the Real Estate sector, focusing on stocks such as SmartCentres Real Estate Investment Trust, Primaris Real Estate Investment Trust, and RioCan Real Estate Investment. According to TipRanks, Markidis has an average return of 11.9% and a 71.97% success rate on recommended stocks.
In another report released yesterday, RBC Capital also maintained a Buy rating on the stock with a C$22.00 price target.