Royal Bank of Canada Cuts RioCan Real Estate Investment Trust (TSE:REI.UN) Price Target to C$21.00

RioCan Real Estate Investment Trust (TSE:REI.UN) had its price target reduced by Royal Bank of Canada from C$22.00 to C$21.00 in a research note issued to investors on Monday,BayStreet.CA reports. They currently have an outperform rating on the real estate investment trust’s stock.

A number of other research analysts have also weighed in on REI.UN. Canaccord Genuity Group lowered shares of RioCan Real Estate Investment Trust from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$21.00 to C$19.50 in a research note on Wednesday, March 19th. BMO Capital Markets reduced their price objective on RioCan Real Estate Investment Trust from C$21.50 to C$20.00 and set an “outperform” rating on the stock in a research report on Monday. National Bankshares boosted their price objective on RioCan Real Estate Investment Trust from C$22.00 to C$22.25 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Scotiabank raised their target price on 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. Finally, Desjardins lowered 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 report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, RioCan Real Estate Investment Trust has a consensus rating of “Moderate Buy” and an average price target of C$21.36.

RioCan Real Estate Investment Trust Price Performance

Shares of TSE REI.UN opened at C$17.10 on Monday. The stock has a market capitalization of C$5.13 billion, a price-to-earnings ratio of 85.50 and a beta of 1.31. RioCan Real Estate Investment Trust has a 52 week low of C$16.26 and a 52 week high of C$20.83. The firm has a 50-day simple moving average of C$18.62 and a 200-day simple moving average of C$18.98. The company has a quick ratio of 0.08, a current ratio of 0.30 and a debt-to-equity ratio of 95.37.

Insider Transactions at RioCan Real Estate Investment Trust

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