Brokerages Set RioCan Real Estate Investment Trust (TSE:REI.UN) Target Price at C$21.47

RioCan Real Estate Investment Trust (TSE:REI.UN) has earned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is C$21.36.

A number of research firms recently commented on REI.UN. Royal Bank of Canada decreased their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$21.00 and set an “outperform” rating on the stock in a research note on Monday. Canaccord Genuity Group downgraded shares of RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$21.00 to C$19.50 in a report on Wednesday, March 19th. National Bankshares upped 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 note on Thursday, February 20th. BMO Capital Markets lowered their target price on shares of RioCan Real Estate Investment Trust from C$21.50 to C$20.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Desjardins reduced their price target on RioCan Real Estate Investment Trust from C$23.00 to C$22.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th.

Insider Activity

In other RioCan Real Estate Investment Trust news, Director Richard Dansereau purchased 4,005 shares of RioCan Real Estate Investment Trust stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average price of C$19.47 per share, with a total value of C$77,977.35. Insiders own 0.31% of the company’s stock.

RioCan Real Estate Investment Trust Price Performance

RioCan Real Estate Investment Trust stock opened at C$17.24 on Friday. The firm has a market capitalization of C$5.17 billion, a PE ratio of 86.20 and a beta of 1.31. 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’s 50-day simple moving average is C$18.60 and its 200 day simple moving average is C$18.96. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37.

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.