RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Cut to C$22.00 by Analysts at TD Securities

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective cut by stock analysts at TD Securities from C$23.00 to C$22.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. TD Securities’ price objective suggests a potential upside of 28.21% from the company’s current price.

Other analysts have also issued research reports about the stock. BMO Capital Markets reduced 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, March 24th. Canaccord Genuity Group downgraded RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and cut their price target for the stock from C$21.00 to C$19.50 in a research note on Wednesday, March 19th. National Bankshares boosted their price objective on 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. Royal Bank of Canada reduced their target price on shares of RioCan Real Estate Investment Trust from C$22.00 to C$21.00 and set an “outperform” rating for the company in a research note on Monday, March 24th. Finally, Desjardins lowered 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. Two investment 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 an average target price of C$21.25.

RioCan Real Estate Investment Trust Stock Performance

REI.UN traded up C$0.06 during trading on Monday, hitting C$17.16. The stock had a trading volume of 360,014 shares, compared to its average volume of 748,985. 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 firm has a market cap of C$5.15 billion, a price-to-earnings ratio of 85.80 and a beta of 1.31. The company has a 50 day moving average price of C$18.58 and a 200-day moving average price of C$18.95. RioCan Real Estate Investment Trust has a one year low of C$16.26 and a one year high of C$20.83.

Insider Activity

In related 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 shares were acquired at an average cost of C$19.47 per share, for a total transaction of C$77,977.35. Corporate insiders own 0.31% of the company’s stock.

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.