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

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price lifted by Scotiabank from C$20.75 to C$21.50 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective indicates a potential upside of 10.77% from the company’s current price.

Several other research analysts have also commented on the stock. CIBC raised their price target on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a report on Wednesday, November 13th. BMO Capital Markets raised shares of 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 research report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$21.75.

RioCan Real Estate Investment Trust Price Performance

Shares of RioCan Real Estate Investment Trust stock opened at C$19.41 on Thursday. The business’s fifty day moving average price is C$18.53 and its 200 day moving average price is C$18.87. 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 current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37. The stock has a market capitalization of C$5.82 billion, a P/E ratio of 97.05 and a beta of 1.31.

Insider Buying and Selling

In related news, Senior Officer Oliver Harrison sold 4,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of C$18.95, for a total value of C$75,804.00. Also, Director Richard Dansereau acquired 4,005 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were bought at an average cost of C$19.47 per share, with a total value of C$77,977.35. 0.31% of the stock is currently owned by 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.