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RioCan REIT initiated with an Outperform at Raymond James

RioCan REIT initiated with an Outperform at Raymond James

Business Insider11 hours ago
Raymond James analyst Brad Sturges initiated coverage of RioCan REIT (RIOCF) with an Outperform rating and C$20.50 price target RioCan's identified ongoing and future development pipeline as of Q1-end ranked as the 2nd-largest underutilized urban land-banks among the Canadian retail REIT sector, and the firm believes that the underutilized urban land bank provides long-term mixed-use residential intensification development opportunities, the analyst tells investors in a research note. The REIT also offers a stable average economic occupancy rate of 95%-96%, the firm added.
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