Scotiabank Cuts RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target to C$20.50

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price objective reduced by Scotiabank from C$21.50 to C$20.50 in a research note published on Wednesday,BayStreet.CA reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Other analysts also recently issued research reports about the company. Desjardins dropped their price target on RioCan Real Estate Investment Trust from C$23.00 to C$22.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. National Bankshares cut RioCan Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and cut their target price for the company from C$22.25 to C$18.00 in a research note on Monday, April 14th. TD Securities decreased their price target on shares of 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 Monday, March 31st. CIBC cut their price objective on shares of RioCan Real Estate Investment Trust from C$22.00 to C$20.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Canaccord Genuity Group downgraded shares of RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and decreased their target price for the company from C$21.00 to C$19.50 in a research report on Wednesday, March 19th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, RioCan Real Estate Investment Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of C$20.17.

RioCan Real Estate Investment Trust Stock Performance

Shares of REI.UN opened at C$17.19 on Wednesday. The firm has a market cap of C$5.16 billion, a P/E ratio of 85.95 and a beta of 1.31. RioCan Real Estate Investment Trust has a twelve month low of C$15.46 and a twelve month 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’s 50 day moving average price is C$17.33 and its two-hundred day moving average price is C$18.28.

Insider Activity

In related news, Director Richard Dansereau acquired 4,005 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was purchased at an average cost of C$19.47 per share, for a total transaction of C$77,977.35. Insiders own 0.31% of the company’s stock.

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.