Canaccord Genuity Group Cuts RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target to C$19.00

RioCan Real Estate Investment Trust (TSE:REI.UN) had its target price lowered by Canaccord Genuity Group from C$19.50 to C$19.00 in a report issued on Wednesday morning,BayStreet.CA reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

Other research analysts also recently issued reports about the stock. 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 on the stock in a research note on Monday, March 31st. Royal Bank of Canada cut their price target on shares of RioCan Real Estate Investment Trust from C$22.00 to C$21.00 and set an “outperform” rating for the company in a research report on Monday, March 24th. National Bankshares lowered RioCan Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$22.25 to C$18.00 in a research note on Monday, April 14th. Scotiabank reduced their price target on RioCan Real Estate Investment Trust from C$21.50 to C$20.50 and set a “sector perform” rating on the stock in a research report on Wednesday. Finally, CIBC lowered their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$20.00 and set an “outperform” rating for the company in a research report on Wednesday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, RioCan Real Estate Investment Trust presently has an average rating of “Moderate Buy” and a consensus price target of C$20.17.

RioCan Real Estate Investment Trust Stock Up 0.9 %

REI.UN opened at C$17.19 on Wednesday. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37. The business’s fifty day simple moving average is C$17.33 and its 200 day simple moving average is C$18.28. RioCan Real Estate Investment Trust has a 52 week low of C$15.46 and a 52 week high of C$20.83. The stock has a market cap of C$5.16 billion, a PE ratio of 85.95 and a beta of 1.31.

Insider Transactions at RioCan Real Estate Investment Trust

In other news, Director Richard Dansereau purchased 4,005 shares of the stock in a transaction dated 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. 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.