BMO Capital Markets Cuts RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target to C$20.00

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target lowered by BMO Capital Markets from C$21.50 to C$20.00 in a report issued on Monday,BayStreet.CA reports. BMO Capital Markets currently has an outperform rating on the real estate investment trust’s stock.

A number of other equities analysts have also weighed in on the stock. Scotiabank upped their target price on shares of RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. National Bankshares increased their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$22.25 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Desjardins cut their target price on shares of RioCan Real Estate Investment Trust from C$23.00 to C$22.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Finally, Canaccord Genuity Group cut RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and lowered their price target for the company from C$21.00 to C$19.50 in a report on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$21.36.

RioCan Real Estate Investment Trust Price Performance

REI.UN stock opened at C$17.10 on Monday. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. The firm has a 50 day moving average price of C$18.62 and a 200-day moving average price of C$18.98. RioCan Real Estate Investment Trust has a 52-week low of C$16.26 and a 52-week high of C$20.83. The firm has a market capitalization of C$5.13 billion, a price-to-earnings ratio of 85.50 and a beta of 1.31.

Insider Activity at RioCan Real Estate Investment Trust

In related news, Director Richard Dansereau purchased 4,005 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average price of C$19.47 per share, for a total transaction of C$77,977.35. 0.31% of the stock is currently owned by insiders.

RioCan Real Estate Investment Trust Company Profile

Riocan Real Estate Investment Trust is a Canadian real estate investment trust which owns, develops, and operates Canada’s portfolio of retail-focused, increasingly mixed-use properties. The REIT’s property portfolio includes shopping centers and mixed-use developments, with most of its properties located in Ontario, Canada.