John Ballantyne Purchases 4,900 Shares of RioCan Real Estate Investment Trust (TSE:REI.UN) Stock
RioCan Real Estate Investment Trust (TSE:REI.UN – Get Rating) Senior Officer John Ballantyne purchased 4,900 shares of the stock in a transaction that occurred on Tuesday, June 21st. The shares were purchased at an average cost of C$20.47 per share, with a total value of C$100,278.50. Following the completion of the acquisition, the insider now owns 68,992 shares in the company, valued at approximately C$1,411,921.28.
REI.UN stock opened at C$20.24 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.53 and a debt-to-equity ratio of 83.89. RioCan Real Estate Investment Trust has a fifty-two week low of C$19.41 and a fifty-two week high of C$26.11. The firm’s 50-day simple moving average is C$22.39 and its 200 day simple moving average is C$23.28. The stock has a market cap of C$6.43 billion and a PE ratio of 9.79.
A number of research firms have commented on REI.UN. TD Securities increased their objective price on shares of RioCan Real Estate Investment Trust from C$27.00 to C$28.00 and gave the company a “buy” rating in a research note on Thursday, February 24th. BMO Capital Markets increased their price objective on shares of RioCan Real Estate Investment Trust from C$25.75 to C$26.50 in a research note on Friday, February 25th. National Bankshares reduced their objective price on shares of RioCan Real Estate Investment Trust from C$27.50 to C$27.00 and set an “outperform” rating on the stock in a research note on Thursday, May 12th. Royal Bank of Canada reduced their objective price on shares of RioCan Real Estate Investment Trust from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a research note on Thursday, May 12th. Finally, Canaccord Genuity Group downgraded shares in RioCan Real Estate Investment Trust to a “hold” rating and set a C$26.50 price target on the stock. in a research report on Wednesday, April 6th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$26.06.
About RioCan Real Estate Investment Trust (Get Rating)
RioCan is one of Canada’s largest real estate investment trusts with a total enterprise value of approximately $13.2 billion as at December 31, 2018. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit- oriented areas where Canadians want to shop, live and work.
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