Desjardins Has Lowered Expectations for RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Price

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price reduced by analysts at Desjardins from C$23.00 to C$22.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Desjardins’ price target would indicate a potential upside of 13.34% from the stock’s current price.

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

RioCan Real Estate Investment Trust Price Performance

Shares of TSE REI.UN opened at C$19.41 on Thursday. The company has a market capitalization of C$5.82 billion, a PE ratio of 97.05 and a beta of 1.31. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37. RioCan Real Estate Investment Trust has a twelve month low of C$16.26 and a twelve month high of C$20.83. The firm has a fifty day simple moving average of C$18.53 and a 200 day simple moving average of C$18.87.

Insider Activity

In other RioCan Real Estate Investment Trust news, Director Richard Dansereau purchased 4,005 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average price of C$19.47 per share, with a total value of C$77,977.35. Also, Senior Officer Oliver Harrison sold 4,000 shares of RioCan Real Estate Investment Trust stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of C$18.95, for a total value of C$75,804.00. 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.