RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$21.50

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target increased by Scotiabank from C$20.75 to C$21.50 in a research report sent to investors on Thursday morning,BayStreet.CA reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

A number of other brokerages have also weighed in on REI.UN. BMO Capital Markets raised RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from C$21.00 to C$20.50 in a report on Wednesday, December 18th. CIBC upped their price objective on RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, RioCan Real Estate Investment Trust has a consensus rating of “Moderate Buy” and a consensus target price of C$21.75.

RioCan Real Estate Investment Trust Stock Performance

Shares of REI.UN stock opened at C$19.41 on Thursday. The company has a current ratio of 0.30, a quick ratio of 0.08 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. The company has a market capitalization of C$5.82 billion, a P/E ratio of 97.05 and a beta of 1.31. The business’s 50 day moving average is C$18.53 and its two-hundred day moving average is C$18.88.

Insider Buying and Selling

In other news, Director Richard Dansereau purchased 4,005 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was bought at an average cost of C$19.47 per share, for a total transaction of C$77,977.35. Also, Senior Officer Oliver Harrison sold 4,000 shares of the 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. 0.31% of the stock is currently owned by company 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.