RioCan Real Estate Investment Trust (TSE:REI.UN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is C$21.47.

REI.UN has been the topic of several research reports. National Bankshares upped 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, February 20th. Canaccord Genuity Group lowered shares of RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$21.00 to C$19.50 in a research note on Wednesday. Desjardins reduced 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. BMO Capital Markets upgraded shares of RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from C$21.00 to C$20.50 in a research note on Wednesday, December 18th. Finally, Scotiabank upped their target price 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 research note on Thursday, February 20th.

RioCan Real Estate Investment Trust Stock Performance

REI.UN opened at C$17.22 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37. The company’s fifty day moving average price is C$18.70 and its two-hundred day moving average price is C$19.01. RioCan Real Estate Investment Trust has a 1-year low of C$16.26 and a 1-year high of C$20.83. The company has a market cap of C$5.17 billion, a price-to-earnings ratio of 86.10 and a beta of 1.31.

Insider Activity at RioCan Real Estate Investment Trust

In other RioCan Real Estate Investment Trust news, Director Richard Dansereau bought 4,005 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was purchased at an average price of C$19.47 per share, for a total transaction of C$77,977.35. 0.31% of the stock is 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.