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

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective reduced by TD Securities from C$23.00 to C$22.00 in a research note published on Monday morning,BayStreet.CA reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other equities research analysts also recently weighed in on the stock. National Bankshares increased their target price on shares of 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. Desjardins reduced 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 research report on Thursday, February 20th. Canaccord Genuity Group downgraded shares of RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and decreased their price objective for the stock from C$21.00 to C$19.50 in a research note on Wednesday, March 19th. Royal Bank of Canada cut their target price on RioCan Real Estate Investment Trust from C$22.00 to C$21.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. Finally, BMO Capital Markets decreased their price target on 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$21.25.

RioCan Real Estate Investment Trust Price Performance

REI.UN stock opened at C$17.28 on Monday. RioCan Real Estate Investment Trust has a 52 week low of C$16.26 and a 52 week high of C$20.83. The firm has a market capitalization of C$5.18 billion, a P/E ratio of 86.40 and a beta of 1.31. The company has a fifty day simple moving average of C$18.52 and a two-hundred day simple moving average of C$18.91. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37.

Insider Buying and Selling

In related news, Director Richard Dansereau acquired 4,005 shares of the firm’s stock in a transaction dated 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. 0.31% of the stock is owned by corporate insiders.

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.