RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Cut to C$21.00

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective reduced by research analysts at TD Securities from C$22.00 to C$21.00 in a research note issued on Wednesday, BayStreet.CA reports. TD Securities’ price objective suggests a potential upside of 19.73% from the stock’s previous close.

Several other equities analysts have also recently issued reports on REI.UN. CIBC reduced their target price on RioCan Real Estate Investment Trust from C$22.00 to C$21.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. BMO Capital Markets boosted their target price on RioCan Real Estate Investment Trust from C$18.50 to C$19.00 and gave the company a “market perform” rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$21.21.

RioCan Real Estate Investment Trust Price Performance

REI.UN opened at C$17.54 on Wednesday. The company has a debt-to-equity ratio of 92.72, a quick ratio of 0.08 and a current ratio of 0.31. RioCan Real Estate Investment Trust has a 52-week low of C$16.32 and a 52-week high of C$21.28. The stock has a market capitalization of C$5.27 billion, a PE ratio of 134.92 and a beta of 1.26. The stock’s 50 day moving average price is C$18.18 and its 200-day moving average price is C$18.08.

Insiders Place Their Bets

In other RioCan Real Estate Investment Trust news, Director Rocky Kim sold 1,671 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$18.66, for a total value of C$31,180.86. Corporate insiders own 0.26% of the company’s stock.

About RioCan Real Estate Investment Trust

RioCan is one of Canada's largest real estate investment trusts with a total enterprise value of approximately $13.2 billion as at December 31, 2018. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work.