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 Desjardins from C$23.00 to C$22.00 in a research report report published on Thursday morning,BayStreet.CA reports. They currently have a buy rating on the real estate investment trust’s stock.

A number of other research firms have also commented on REI.UN. BMO Capital Markets raised shares of RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from C$21.00 to C$20.50 in a report on Wednesday, December 18th. Scotiabank lifted their price target 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 research report on Thursday. CIBC lifted their price target on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research report on Wednesday, November 13th. Finally, National Bankshares lifted their price target 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. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, RioCan Real Estate Investment Trust has an average rating of “Moderate Buy” and a consensus target price of C$21.75.

RioCan Real Estate Investment Trust Price Performance

REI.UN opened at C$19.41 on Thursday. The company has a fifty day moving average price of C$18.50 and a two-hundred day moving average price of C$18.87. 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 52 week low of C$16.26 and a 52 week high of C$20.83. The firm has a market capitalization of C$5.82 billion, a PE ratio of 97.05 and a beta of 1.31.

Insider Activity at RioCan Real Estate Investment Trust

In related news, Director Richard Dansereau acquired 4,005 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average cost 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 the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of C$18.95, for a total transaction of C$75,804.00. 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.