Royal Bank of Canada Has Lowered Expectations for RioCan Real Estate Investment Trust (TSE:REI.UN) Stock Price

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price dropped by equities researchers at Royal Bank of Canada from C$22.00 to C$21.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 21.32% from the stock’s current price.

A number of other equities research analysts have also commented on REI.UN. Desjardins dropped their price objective on shares of 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 increased their price objective on shares of RioCan Real Estate Investment Trust from C$20.75 to C$21.50 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Canaccord Genuity Group downgraded RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and cut their price objective for the company from C$21.00 to C$19.50 in a report on Wednesday, March 19th. BMO Capital Markets decreased their price objective on shares of RioCan Real Estate Investment Trust from C$21.50 to C$20.00 and set an “outperform” rating for the company in a research report on Monday. Finally, National Bankshares raised their price target on RioCan Real Estate Investment Trust from C$22.00 to C$22.25 and gave the company an “outperform” rating in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, RioCan Real Estate Investment Trust currently has an average rating of “Moderate Buy” and an average target price of C$21.36.

RioCan Real Estate Investment Trust Stock Performance

REI.UN opened at C$17.31 on Monday. The company has a debt-to-equity ratio of 95.37, a quick ratio of 0.08 and a current ratio of 0.30. RioCan Real Estate Investment Trust has a 52-week low of C$16.26 and a 52-week high of C$20.83. The stock has a 50-day moving average of C$18.65 and a 200-day moving average of C$18.99. The company has a market cap of C$5.19 billion, a PE ratio of 86.55 and a beta of 1.31.

Insider Activity

In other RioCan Real Estate Investment Trust news, Director Richard Dansereau bought 4,005 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was bought 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 company insiders.

RioCan Real Estate Investment Trust Company Profile

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.