RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Cut to C$21.00 by Analysts at Royal Bank of Canada

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective reduced by Royal Bank of Canada from C$22.00 to C$21.00 in a research report sent to investors on Monday,BayStreet.CA reports. They currently have an outperform rating on the real estate investment trust’s stock.

Several other brokerages have also commented on REI.UN. Desjardins decreased their price target on 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 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 report on Thursday, February 20th. National Bankshares increased their target price 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 research 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 price target for the company from C$21.00 to C$19.50 in a research report on Wednesday, March 19th. Finally, BMO Capital Markets dropped their price objective on shares of RioCan Real Estate Investment Trust from C$21.50 to C$20.00 and set an “outperform” rating for the company in a report on Monday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$21.36.

RioCan Real Estate Investment Trust Stock Performance

TSE:REI.UN opened at C$17.23 on Monday. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37. The firm has a 50-day moving average price of C$18.68 and a 200 day moving average price of C$19.00. The firm has a market capitalization of C$5.17 billion, a PE ratio of 86.15 and a beta of 1.31. RioCan Real Estate Investment Trust has a 12-month low of C$16.26 and a 12-month high of C$20.83.

Insider Transactions 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 shares were bought at an average cost 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.