RioCan Real Estate Investment Trust (TSE:REI.UN) Rating Lowered to Sector Perform at National Bankshares

RioCan Real Estate Investment Trust (TSE:REI.UN) was downgraded by equities researchers at National Bankshares from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Monday,BayStreet.CA reports. They presently have a C$18.00 price objective on the real estate investment trust’s stock, down from their previous price objective of C$22.25. National Bankshares’ target price points to a potential upside of 8.50% from the company’s current price.

Several other equities analysts have also recently weighed in on REI.UN. Canaccord Genuity Group cut shares of RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and dropped their price target for the company from C$21.00 to C$19.50 in a research report on Wednesday, March 19th. BMO Capital Markets cut their target price on RioCan Real Estate Investment Trust from C$21.50 to C$20.00 and set an “outperform” rating on the stock in a research report on Monday, March 24th. Desjardins cut their price objective 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. TD Securities dropped their price target 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 research report on Monday, March 31st. Finally, Royal Bank of Canada decreased their price objective 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. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$20.78.

RioCan Real Estate Investment Trust Stock Up 1.8 %

TSE:REI.UN traded up C$0.29 during trading hours on Monday, reaching C$16.59. The company had a trading volume of 335,002 shares, compared to its average volume of 811,823. The firm has a market cap of C$4.98 billion, a price-to-earnings ratio of 82.95 and a beta of 1.31. The business’s 50-day simple moving average is C$18.16 and its two-hundred day simple moving average is C$18.68. 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 has a twelve month low of C$15.46 and a twelve month high of C$20.83.

Insider Activity

In other RioCan Real Estate Investment Trust news, Director Richard Dansereau purchased 4,005 shares of the stock in a transaction on Thursday, February 20th. The shares were purchased at an average price 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.