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Real Estate News 24

RioCan Real Estate Investment Trust (OTCMKTS:RIOCF) Sees Significant Growth in Short Interest

Beth McCandry

RioCan Real Estate Investment Trust (OTCMKTS:RIOCF – Get Rating) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 2,925,400 shares, a growth of 26.1% from the June 15th total of 2,320,200 shares. Based on an average daily volume of 8,800 shares, the days-to-cover ratio is currently 332.4 days.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Canaccord Genuity Group reduced their price objective on RioCan Real Estate Investment Trust from C$25.25 to C$24.75 in a research report on Wednesday, May 11th. Royal Bank of Canada reduced their price target on RioCan Real Estate Investment Trust from C$27.00 to C$26.00 in a research report on Thursday, May 12th. National Bank Financial reduced their price target on RioCan Real Estate Investment Trust from C$27.00 to C$23.00 in a research report on Wednesday. Finally, Scotiabank reduced their price target on RioCan Real Estate Investment Trust from C$27.00 to C$26.50 in a research report on Thursday, May 12th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, RioCan Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and an average target price of $25.72.

RioCan Real Estate Investment Trust Trading Up 0.2%

OTCMKTS RIOCF opened at $15.61 on Thursday. RioCan Real Estate Investment Trust has a fifty-two week low of $14.68 and a fifty-two week high of $20.63. The stock has a 50 day simple moving average of $16.32 and a two-hundred day simple moving average of $18.04.

RioCan Real Estate Investment Trust Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, August 8th. Shareholders of record on Friday, July 29th will be issued a $0.0646 dividend. This represents a yield of 5.1%. The ex-dividend date of this dividend is Thursday, July 28th.

RioCan Real Estate Investment Trust Company Profile

(Get Rating)

RioCan is one of Canada’s largest real estate investment trusts. 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. As at September 30, 2020, our portfolio is comprised of 221 properties with an aggregate net leasable area of ​​approximately 38.4 million square feet (at RioCan’s interest) including office, residential rental and 16 development properties.

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