National Bankshares Forecasts Strong Price Appreciation for RioCan Real Estate Investment Trust (TSE:REI.UN) Stock

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target upped by National Bankshares from C$22.00 to C$22.25 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. National Bankshares’ price target suggests a potential upside of 14.63% from the stock’s previous close.

REI.UN has been the topic of a number of other research reports. Scotiabank boosted 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 report on Thursday. BMO Capital Markets upgraded RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and lowered their price target for the company from C$21.00 to C$20.50 in a research note on Wednesday, December 18th. Finally, CIBC increased their price objective on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, RioCan Real Estate Investment Trust has a consensus rating of “Moderate Buy” and a consensus price target of C$21.75.

RioCan Real Estate Investment Trust Stock Performance

Shares of TSE:REI.UN opened at C$19.41 on Thursday. The company has a market cap of C$5.82 billion, a P/E ratio of 97.05 and a beta of 1.31. The stock’s 50-day moving average is C$18.53 and its 200-day moving average is C$18.87. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. RioCan Real Estate Investment Trust has a 52-week low of C$16.26 and a 52-week high of C$20.83.

Insider Activity

In other news, Director Richard Dansereau acquired 4,005 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were purchased 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 business’s stock in a transaction dated Wednesday, December 18th. The stock was 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 corporate 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.