Royal Bank of Canada Lowers RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target to C$21.00

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price lowered by equities research analysts at Royal Bank of Canada from C$22.00 to C$21.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 21.18% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. BMO Capital Markets decreased their price objective on RioCan Real Estate Investment Trust from C$21.50 to C$20.00 and set an “outperform” rating for the company in a report on Monday. Canaccord Genuity Group downgraded shares of RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$21.00 to C$19.50 in a research note on Wednesday, March 19th. Scotiabank raised their price target on RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Desjardins reduced their price target on RioCan Real Estate Investment Trust from C$23.00 to C$22.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Finally, National Bankshares upped their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$22.25 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$21.36.

RioCan Real Estate Investment Trust Stock Performance

RioCan Real Estate Investment Trust stock traded up C$0.11 during mid-day trading on Monday, reaching C$17.33. 1,441,464 shares of the company traded hands, compared to its average volume of 706,962. The firm’s fifty day moving average is C$18.70 and its two-hundred day moving average is C$19.01. The company has a market capitalization of C$5.20 billion, a price-to-earnings ratio of 86.65 and a beta of 1.31. RioCan Real Estate Investment Trust has a fifty-two week low of C$16.26 and a fifty-two week high of C$20.83. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08.

Insiders Place Their Bets

In other RioCan Real Estate Investment Trust news, Director Richard Dansereau acquired 4,005 shares of the stock in a transaction dated Thursday, February 20th. The shares were purchased 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 owned by corporate 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.