Michael Giannini (pictured on the set of Real Estate Intelligence, a show he hosted) was shot dead on Saturday in a suspected targeted attack

A real estate broker was shot and killed while eating in a Toronto restaurant in what police believe was a targeted attack on Saturday night.

Simon Giannini, 53, was one of around 150 people eating at Michael's on Simcoe St on Saturday night when the masked gunman entered and shot him multiple times times before fleeing.

Giannini was taken to hospital but died there, CTV News reported - and now cops are hunting the assassin.

Giannini had been eating with another man in the lounge when he was shot, police said, although his dining companion was not identified.

As the shots - four, according to diner Frene DiMaso - rang out, diners leaped under their tables and staff told people to stay down.

Meanwhile, the gunman - wearing a gray hoodie with the hood pulled up to cover his face, and sweatpants - fled the restaurant and was last seen escaping in a white SUV down Pearl St.

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Giannini had been eating here, at Michael's in Toronto, along with 150 others when a gunman walked in and opened fire. At least four shots were fired; Giannini died in hospital

As paramedics rushed to the scene, one employee told said she ran into the lounge and tried to help the fatally wounded man.

'I applied pressure to his exit wound,' she said. 'It was pretty crazy.'

Police say they still don't know the motive for the attack, but believe it was targeted. They are asking anyone who witnessed the attack to come forward and join the others who have told their stories.

'It was a busy restaurant. I'm sure it was very frightening for the customers who were at the restaurant,' said Detective Shannon Dawson.

'And that is why we think many of them may have fled very quickly and perhaps those people haven't had a chance to speak to us.'

Giannini was a signature agent at Royal LePage Real Estate Services, and hosted the TV show Real Estate Intelligence.

Police said they didn't have a motive for the shooting and were asking to speak to witnesses, saying many fled the restaurant afterward

Michael's was the scene of another shooting in September 2015. In that incident a man and a woman were fired upon by two gunmen. Both victims survived but suffered serious injuries.

Police do not believe that incident is connected to Giannini's shooting.

Michael's owner Michael Dabic said that he was shocked that a second attack had taken place in his restaurant, and said his daughter was in there at the time.

Royal LePage spokesperson Sarah Louise Gardiner told CBC Toronto in an email: 'The company's deepest sympathies go out to Simon's friends, colleagues and loved ones.'

Giannini's is the 41st killing in Toronto this year.

Anyone with information is asked to call police on 416-808-7400 or Crime Stoppers anonymously on 416-222-TIPS (8477).

They can also submit tips anonymously online at www.222tips.com, or text TOR and a message to CRIMES (274637).