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

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price decreased by Desjardins from C$23.00 to C$22.00 in a report published on Thursday morning,BayStreet.CA reports. Desjardins currently has a buy rating on the real estate investment trust’s stock.

A number of other brokerages have also recently commented on REI.UN. BMO Capital Markets upgraded shares of RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and cut their price target for the stock from C$21.00 to C$20.50 in a research note on Wednesday, December 18th. CIBC raised their price objective on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a report on Wednesday, November 13th. National Bankshares raised their price objective on shares of 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. Finally, Scotiabank raised 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 report on Thursday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, RioCan Real Estate Investment Trust has a consensus rating of “Moderate Buy” and a consensus price target of C$21.75.

RioCan Real Estate Investment Trust Stock Down 0.7 %

Shares of REI.UN opened at C$19.41 on Thursday. The stock has a market cap of C$5.82 billion, a price-to-earnings ratio of 97.05 and a beta of 1.31. 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 12 month low of C$16.26 and a 12 month high of C$20.83. The company has a 50-day moving average price of C$18.50 and a two-hundred day moving average price of C$18.87.

Insider Transactions at RioCan Real Estate Investment Trust

In related news, Director Richard Dansereau purchased 4,005 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average price of C$19.47 per share, with a total value of C$77,977.35. Also, Senior Officer Oliver Harrison sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of C$18.95, for a total transaction of C$75,804.00. Company 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.