RioCan Real Estate Investment Trust (TSE:REI) Rating Increased to Strong-Buy at BMO Capital Markets

BMO Capital Markets upgraded shares of RioCan Real Estate Investment Trust (TSE:REI) from a hold rating to a strong-buy rating in a report published on Wednesday,Zacks.com reports.

RioCan Real Estate Investment Trust Stock Performance

RioCan Real Estate Investment Trust has a 52-week low of C$10.88 and a 52-week high of C$17.17.

RioCan Real Estate Investment Trust Announces Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, November 7th. Stockholders of record on Thursday, October 31st were given a $0.093 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of ∞.

About RioCan Real Estate Investment Trust

Ring Energy, Inc, an exploration and production company, engages in the acquisition, exploration, development, and production of oil and natural gas in Texas and New Mexico. As of December 31, 2021, the company’s proved reserves consisted of approximately 77.8 million barrel of oil equivalent. It also had interests in 18,882 net developed acres and 1,406 net undeveloped acres in Andrews and Gaines counties, Texas; 18,437 net developed acres in Culberson and Reeves counties, Texas; and 13,662 net developed acres and 11,993 net undeveloped acres in Yoakum, Runnels, and Coke Counties, Texas and Lea County, New Mexico.