RioCan Real Estate Investment Trust (TSE:REI.UN) Sets New 1-Year Low – What’s Next?

RioCan Real Estate Investment Trust (TSE:REI.UN)’s share price reached a new 52-week low on Monday . The stock traded as low as C$15.81 and last traded at C$15.96, with a volume of 216755 shares changing hands. The stock had previously closed at C$16.61.

Analysts Set New Price Targets

REI.UN has been the subject of several research reports. Scotiabank lifted their price target on RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Desjardins cut their target price on shares of RioCan Real Estate Investment Trust from C$23.00 to C$22.00 and set a “buy” rating for the company 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 lowered their price target for the company from C$21.00 to C$19.50 in a research report on Wednesday, March 19th. TD Securities cut their price objective on RioCan Real Estate Investment Trust from C$23.00 to C$22.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Finally, BMO Capital Markets lowered 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$21.25.

RioCan Real Estate Investment Trust Trading Up 2.9 %

The company has a market cap of C$4.99 billion, a PE ratio of 83.15 and a beta of 1.31. The company has a current ratio of 0.30, a quick ratio of 0.08 and a debt-to-equity ratio of 95.37. The business has a 50 day simple moving average of C$18.32 and a two-hundred day simple moving average of C$18.80.

Insider Buying and Selling

In related news, Director Richard Dansereau purchased 4,005 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were bought at an average price of C$19.47 per share, for a total transaction of C$77,977.35. 0.31% of the stock is currently 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.