Desjardins Issues Pessimistic Forecast for RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Price

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target cut by Desjardins from C$23.00 to C$22.00 in a research note published on Thursday,BayStreet.CA reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other research analysts have also commented on REI.UN. BMO Capital Markets upgraded shares of RioCan Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from C$21.00 to C$20.50 in a research note on Wednesday, December 18th. National Bankshares upped their price target 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. Scotiabank upped their price target on shares of RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the company a “sector perform” rating in a research note on Thursday. Finally, CIBC upped their price target on shares of RioCan Real Estate Investment Trust from C$21.00 to C$22.00 in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$21.75.

RioCan Real Estate Investment Trust Stock Performance

TSE:REI.UN opened at C$19.41 on Thursday. RioCan Real Estate Investment Trust has a one year low of C$16.26 and a one year high of C$20.83. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. The firm has a market cap of C$5.82 billion, a P/E ratio of 97.05 and a beta of 1.31. The firm has a 50-day simple moving average of C$18.53 and a 200-day simple moving average of C$18.88.

Insider Buying and Selling at RioCan Real Estate Investment Trust

In other news, Senior Officer Oliver Harrison sold 4,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were 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 RioCan Real Estate Investment Trust stock in a transaction dated Thursday, February 20th. The stock was acquired at an average price of C$19.47 per share, with a total value of C$77,977.35. 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.