RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target Raised to C$21.50

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price upped by investment analysts at Scotiabank from C$20.75 to C$21.50 in a report issued on Thursday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target suggests a potential upside of 10.77% from the stock’s previous close.

Several other equities analysts have also commented on REI.UN. CIBC upped 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. BMO Capital Markets upgraded shares of RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from C$21.00 to C$20.50 in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$21.75.

RioCan Real Estate Investment Trust Stock Performance

TSE:REI.UN opened at C$19.41 on Thursday. The firm has a market capitalization of C$5.82 billion, a P/E ratio of 97.05 and a beta of 1.31. The business has a 50 day simple moving average of C$18.53 and a 200 day simple moving average of C$18.87. The company has a debt-to-equity ratio of 95.37, a current ratio of 0.30 and a quick ratio of 0.08. RioCan Real Estate Investment Trust has a 12-month low of C$16.26 and a 12-month high of C$20.83.

Insider Activity at RioCan Real Estate Investment Trust

In other news, Senior Officer Oliver Harrison sold 4,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of C$18.95, for a total value of C$75,804.00. Also, Director Richard Dansereau bought 4,005 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average cost of C$19.47 per share, with a total value of C$77,977.35. 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.