RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Lowered to C$21.00 at Royal Bank of Canada

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target lowered by Royal Bank of Canada from C$22.00 to C$21.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

Other equities research analysts have also issued research reports about the company. Scotiabank lifted their price objective on RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. National Bankshares lifted their price target 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 research note on Thursday, February 20th. Canaccord Genuity Group cut shares of RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$21.00 to C$19.50 in a report on Wednesday, March 19th. BMO Capital Markets reduced their price objective on shares of 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. 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 for the company in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$21.36.

RioCan Real Estate Investment Trust Stock Down 1.2 %

Shares of TSE REI.UN opened at C$17.10 on Monday. The stock has a market cap of C$5.13 billion, a P/E ratio of 85.50 and a beta of 1.31. The business’s fifty day simple moving average is C$18.62 and its 200-day simple moving average is C$18.98. 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 current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37.

Insider Activity

In other news, Director Richard Dansereau bought 4,005 shares of the firm’s stock in a transaction that occurred 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. 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.