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

RioCan Real Estate Investment Trust (TSE:REI.UN) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$21.36.

Several research analysts have issued reports on the stock. Desjardins dropped their target price on shares of RioCan Real Estate Investment Trust from C$23.00 to C$22.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Royal Bank of Canada dropped their price objective on shares of 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, March 24th. Scotiabank boosted their price objective on shares of 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. National Bankshares upped their target price 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. Finally, BMO Capital Markets cut their price target on RioCan Real Estate Investment Trust from C$21.50 to C$20.00 and set an “outperform” rating on the stock in a report on Monday, March 24th.

RioCan Real Estate Investment Trust Price Performance

RioCan Real Estate Investment Trust stock opened at C$17.20 on Friday. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08. The stock has a market cap of C$5.16 billion, a price-to-earnings ratio of 86.00 and a beta of 1.31. The firm has a 50-day moving average of C$18.58 and a two-hundred day moving average of C$18.96. RioCan Real Estate Investment Trust has a 1 year low of C$16.26 and a 1 year high of C$20.83.

Insider Transactions at RioCan Real Estate Investment Trust

In related news, Director Richard Dansereau bought 4,005 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average cost of C$19.47 per share, with a total value of C$77,977.35. Company insiders own 0.31% of the company’s stock.

About RioCan Real Estate Investment Trust

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.