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 decreased by Royal Bank of Canada from C$22.00 to C$21.00 in a report published on Monday morning,BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the real estate investment trust’s stock.

Several other analysts have also issued reports on the company. BMO Capital Markets dropped their target price on 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. Scotiabank increased 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 report on Thursday, February 20th. 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 on the stock 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 dropped their price target for the stock from C$21.00 to C$19.50 in a research report on Wednesday, March 19th. Finally, National Bankshares lifted their price objective 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 report on Thursday, February 20th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, RioCan Real Estate Investment Trust presently has a consensus rating of “Moderate Buy” and an average price target of C$21.36.

RioCan Real Estate Investment Trust Stock Performance

Shares of REI.UN opened at C$17.23 on Monday. 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 12 month low of C$16.26 and a 12 month high of C$20.83. The firm has a fifty day simple moving average of C$18.68 and a 200 day simple moving average of C$19.00. The stock has a market capitalization of C$5.17 billion, a price-to-earnings ratio of 86.15 and a beta of 1.31.

Insider Buying and Selling

In related news, Director Richard Dansereau bought 4,005 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were bought 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.

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.