Analyst Mark Rothschild of Canaccord Genuity maintained a Hold rating on RioCan Real Estate Investment, boosting the price target to C$19.50.
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Mark Rothschild has given his Hold rating due to a combination of factors impacting RioCan Real Estate Investment. The company’s Q3/25 results showed funds from operations per unit remained flat year-over-year, slightly exceeding expectations. Positive contributions came from increased income from condo sales and same-property net operating income growth, although these were offset by a decrease in joint venture income and the impact of refinancing debt at higher interest rates.
Despite the healthy operating performance, RioCan’s units are trading at a discount compared to its peers, with an implied cap rate of 6.4% and a cash flow multiple below the average for Canadian retail peers. The valuation reflects a cautious approach, as the fundamentals for apartment properties have softened due to increased supply and weakened demand. Given these mixed factors, Rothschild maintains a Hold rating, suggesting a balanced outlook on the stock’s potential performance.
According to TipRanks, Rothschild is a 5-star analyst with an average return of 9.0% and a 67.15% success rate. Rothschild covers the Real Estate sector, focusing on stocks such as RioCan Real Estate Investment, Canadian Apartment, and DREAM Un Cl A.