National Bankshares Downgrades RioCan Real Estate Investment Trust (TSE:REI.UN) to Sector Perform

RioCan Real Estate Investment Trust (TSE:REI.UN) was downgraded by equities researchers at National Bankshares from an “outperform” rating to a “sector perform” rating in a research note issued on Monday,BayStreet.CA reports. They currently have a C$18.00 target price on the real estate investment trust’s stock, down from their previous target price of C$22.25. National Bankshares’ price objective would indicate a potential upside of 8.50% from the company’s previous close.

Several other equities research analysts also recently commented on REI.UN. Canaccord Genuity Group downgraded RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$21.00 to C$19.50 in a report on Wednesday, March 19th. Desjardins lowered their price target on 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 upped their price objective 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 report on Thursday, February 20th. BMO Capital Markets dropped 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 research report on Monday, March 24th. Finally, Royal Bank of Canada reduced their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$21.00 and set an “outperform” rating for the company in a research report on Monday, March 24th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, RioCan Real Estate Investment Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of C$20.78.

RioCan Real Estate Investment Trust Stock Up 1.8 %

TSE:REI.UN traded up C$0.29 during trading hours on Monday, reaching C$16.59. 335,002 shares of the company traded hands, compared to its average volume of 811,823. 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’s 50-day moving average price is C$18.16 and its two-hundred day moving average price is C$18.68. RioCan Real Estate Investment Trust has a 1 year low of C$15.46 and a 1 year high of C$20.83. The stock has a market capitalization of C$4.98 billion, a P/E ratio of 82.95 and a beta of 1.31.

Insider Activity

In related news, Director Richard Dansereau purchased 4,005 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average price of C$19.47 per share, for a total transaction of C$77,977.35. Company insiders own 0.31% of the company’s stock.

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.