RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Cut to C$20.00 by Analysts at BMO Capital Markets

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective reduced by BMO Capital Markets from C$21.50 to C$20.00 in a research note issued to investors on Monday morning,BayStreet.CA reports. They currently have an outperform rating on the real estate investment trust’s stock.

A number of other brokerages have also issued reports on REI.UN. Desjardins dropped their price target 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 research note on Thursday, February 20th. Scotiabank boosted their target price on 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, February 20th. Canaccord Genuity Group cut RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and reduced their price target for the company from C$21.00 to C$19.50 in a report on Wednesday, March 19th. Finally, National Bankshares upped their price objective on 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$21.36.

RioCan Real Estate Investment Trust Price Performance

Shares of REI.UN opened at C$17.23 on Monday. 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 fifty-two week low of C$16.26 and a fifty-two week high of C$20.83. The firm has a 50-day simple moving average of C$18.68 and a 200-day simple moving average of C$19.00. The company has a market capitalization of C$5.17 billion, a price-to-earnings ratio of 86.15 and a beta of 1.31.

Insider Activity

In related news, Director Richard Dansereau purchased 4,005 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were bought at an average price of C$19.47 per share, with a total value of C$77,977.35. Company insiders own 0.31% of the company’s stock.

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.