BMO Capital Markets 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 reduced by BMO Capital Markets from C$21.50 to C$20.00 in a research report released on Monday morning,BayStreet.CA reports. BMO Capital Markets currently has an outperform rating on the real estate investment trust’s stock.

A number of other brokerages have also issued reports on REI.UN. National Bankshares lifted their target price on RioCan Real Estate Investment Trust from C$22.00 to C$22.25 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Scotiabank lifted their price objective on RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Desjardins reduced their target price 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 note on Thursday, February 20th. Finally, Canaccord Genuity Group downgraded shares of RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$21.00 to C$19.50 in a research report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, RioCan Real Estate Investment Trust presently has an average rating of “Moderate Buy” and an average target price of C$21.36.

RioCan Real Estate Investment Trust Price Performance

Shares of REI.UN stock opened at C$17.23 on Monday. RioCan Real Estate Investment Trust has a twelve month low of C$16.26 and a twelve month high of C$20.83. The company has a market capitalization of C$5.17 billion, a PE ratio of 86.15 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 firm has a fifty day simple moving average of C$18.68 and a 200-day simple moving average of C$19.00.

Insider Buying and Selling at RioCan Real Estate Investment Trust

In other news, Director Richard Dansereau bought 4,005 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average price of C$19.47 per share, with a total value of C$77,977.35. 0.31% of the stock is owned by company 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.