RioCan Real Estate Investment Trust (TSE:REI.UN) Given New C$22.00 Price Target at TD Securities

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective cut by TD Securities from C$23.00 to C$22.00 in a research report released on Monday morning,BayStreet.CA reports. They currently have a buy rating on the real estate investment trust’s stock.

Other equities analysts have also issued reports about the company. Royal Bank of Canada cut their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$21.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. Desjardins dropped their price objective 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. BMO Capital Markets cut 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, March 24th. Scotiabank lifted their price target on RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. 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 stock an “outperform” rating in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, RioCan Real Estate Investment Trust currently has an average rating of “Moderate Buy” and an average target price of C$21.25.

RioCan Real Estate Investment Trust Stock Performance

Shares of RioCan Real Estate Investment Trust stock opened at C$17.15 on Monday. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08. 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 market capitalization of C$5.14 billion, a P/E ratio of 85.75 and a beta of 1.31. The company’s 50 day moving average price is C$18.55 and its two-hundred day moving average price is C$18.94.

Insiders Place Their Bets

In other news, Director Richard Dansereau purchased 4,005 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was purchased at an average price of C$19.47 per share, with a total value of C$77,977.35. Corporate 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.