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

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price dropped by Royal Bank of Canada from C$22.00 to C$21.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 21.18% from the stock’s previous close.

REI.UN has been the topic of several other reports. Desjardins decreased 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. Scotiabank raised their target price on RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the company a “sector perform” rating in a report on Thursday, February 20th. BMO Capital Markets decreased their price target 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 research note on Monday. 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 company an “outperform” rating in a research note on Thursday, February 20th. Finally, Canaccord Genuity Group lowered RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$21.00 to C$19.50 in a research note on Wednesday, March 19th. 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, the stock has a consensus rating of “Moderate Buy” and an average target price of C$21.36.

RioCan Real Estate Investment Trust Stock Up 0.6 %

Shares of REI.UN traded up C$0.11 during mid-day trading on Monday, hitting C$17.33. The company’s stock had a trading volume of 1,441,464 shares, compared to its average volume of 706,962. The firm has a market capitalization of C$5.20 billion, a price-to-earnings ratio of 86.65 and a beta of 1.31. The company’s 50-day moving average is C$18.70 and its 200-day moving average is C$19.01. The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37. RioCan Real Estate Investment Trust has a 52-week low of C$16.26 and a 52-week high of C$20.83.

Insiders Place Their Bets

In other RioCan Real Estate Investment Trust news, Director Richard Dansereau purchased 4,005 shares of the 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. 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.