Analysts Set RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target at C$21.75

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$21.75.

A number of brokerages have recently weighed in on REI.UN. National Bankshares raised 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 report on Thursday, February 20th. BMO Capital Markets raised shares of RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and lowered their price target for the company from C$21.00 to C$20.50 in a report on Wednesday, December 18th. CIBC increased their price target on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a report on Wednesday, November 13th. Desjardins lowered their price target on shares of 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, Scotiabank increased their price target on shares of RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the company a “sector perform” rating in a report on Thursday, February 20th.

Insiders Place Their Bets

In other RioCan Real Estate Investment Trust news, Senior Officer Oliver Harrison sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of C$18.95, for a total value of C$75,804.00. Also, Director Richard Dansereau acquired 4,005 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was purchased at an average cost of C$19.47 per share, with a total value of C$77,977.35. 0.31% of the stock is owned by insiders.

RioCan Real Estate Investment Trust Trading Down 0.7 %

Shares of RioCan Real Estate Investment Trust stock opened at C$19.20 on Wednesday. The firm has a market cap of C$5.76 billion, a price-to-earnings ratio of 96.00 and a beta of 1.31. The business has a 50-day moving average price of C$18.68 and a 200-day moving average price of C$18.97. 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$16.26 and a twelve month high of C$20.83.

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.